Sitemap

Lorry Drivers Lose 3,000 Years Annually Waiting at Western Balkans Borders

CorD Recommends

Albania to Utilize Drones in Anti-Cannabis Campaign

Albania is set to enhance its anti-cannabis...

Maserati’s Balkan Expansion: New Showroom Opens in Belgrade

Delta Auto Group has unveiled an exclusive...

Serbia, Slovenia, and Hungary Merge Power Exchanges in Energy Pact

In a significant move to streamline and...

Peter Pellegrini Wins Slovak Presidential Election

Peter Pellegrini, the candidate from the ruling...

Modine Expands Serbian Operations with New Facility

Modine, a global leader in thermal management technology, has inaugurated a new 18,000-square-metre production plant in Sremska Mitrovica, Serbia,...

Novak Djokovic Wins Laureus Award for World’s Best Sportsman for Record Fifth Time

Novak Djokovic has won the Laureus award for the world's best sportsman for a record fifth time at a...

Serbia’s Gaming Industry Sees Significant Growth and Employment Surge in 2023

In 2023, Serbia's gaming industry earned more than 175 million euros, marking a 17 percent increase from 2022, and...

Galenika Strengthens Market Position with New Strategic Partnerships

Galenika has significantly expanded its presence in the pharmaceutical sector by securing an exclusive distribution agreement with Cantabria Labs,...

HDZ Claims Victory in Croatian Elections but Lacks Majority

The Croatian Democratic Union (HDZ), the country's ruling party, emerged as the winner in Wednesday's parliamentary elections. Despite their...

Lorry drivers currently squander approximately 26 million hours – equating to nearly 3,000 years – waiting at the border crossings of the Western Balkans nations, a staggering statistic revealed by Antonela Basani, the World Bank’s Vice President for the Europe and Central Asia region. She presented this information to leaders of Albania, Bosnia and Herzegovina, Montenegro, North Macedonia, and Serbia at the Berlin Process Summit in Tirana.

According to a new World Bank report discussed during the Berlin Process meetings, reducing the average border waiting time by three hours – the difference between the typical waiting time in the Western Balkans and countries of the Organisation for Economic Co-operation and Development (OECD) – could contribute up to three percent of the gross national income.

The World Bank suggests that joining the European Union could enhance these benefits by an additional six percent. Moreover, EU neighbouring countries like Romania, Hungary, and Bulgaria could see gains of around 0.2% due to increased trade with the Western Balkans.

“The Western Balkans holds the immense potential to tap into the market of 450 million people in the European Union. Global experiences, including those in the Western Balkans, show that access to international markets is vital for business growth and achieving economies of scale,” said Antonela Basani. She further added:

Read more...

Novak Djokovic Wins Laureus Award for World’s Best Sportsman for Record Fifth Time

Novak Djokovic has won the Laureus award for the world's best sportsman for a record fifth time at a ceremony in Madrid. Djokovic concluded 2023...

Serbia’s Gaming Industry Sees Significant Growth and Employment Surge in 2023

In 2023, Serbia's gaming industry earned more than 175 million euros, marking a 17 percent increase from 2022, and also saw a rise in...

“Economic integration provides a swift path to adopting new technologies, flowing in new ideas and innovations, and transitioning to higher productivity supporting growth in middle-income economies.”

The World Bank is already collaborating with partners to facilitate trade and transport in the region through investments and reforms. They’re also supporting Western Balkans’ economies to align their payment systems with European Union standards and meet criteria for integration into the Single Euro Payments Area (SEPA).

Related Articles

Novak Djokovic Wins Laureus Award for World’s Best Sportsman for Record Fifth Time

Novak Djokovic has won the Laureus award for the world's best sportsman for a record fifth time at a ceremony in Madrid. Djokovic concluded 2023...

Serbia’s Gaming Industry Sees Significant Growth and Employment Surge in 2023

In 2023, Serbia's gaming industry earned more than 175 million euros, marking a 17 percent increase from 2022, and also saw a rise in...

French Embassy and Institute in Serbia Launch ‘Rhythm of French Culture’ Event Series

The French Embassy and the French Institute in Serbia are organising an event called Rhythm of French Culture. This year, as Paris hosts the Olympic...

Crypto12 Hosts Buzzing Crypto Conference

The "Crypto Potential in Serbia 2024" conference has significantly exceeded expectations, drawing a crowd of 270 participants—far above the anticipated 200.  Held in Belgrade, this...

Albania to Utilize Drones in Anti-Cannabis Campaign

Albania is set to enhance its anti-cannabis efforts by deploying advanced drone technology, announced Interior Minister Taulant Bala. Starting next week, Bayraktar drones will...

Serbian Red Cross Launches Pioneering Migration Platform

Responding to a significant increase in migrant numbers, the Serbian Red Cross has unveiled a cutting-edge digital platform, earning accolades as the premier digital...

Serbia, Slovenia, and Hungary Merge Power Exchanges in Energy Pact

In a significant move to streamline and enhance energy trading in the region, Serbia, Slovenia, and Hungary have unified their electric power exchanges. This...

Strategic Energy Partnership Established Between Serbia and France

The Serbian Government adopted a Memorandum of Understanding between the Government of Serbia and French Electric Power Company (EDF), on establishing a framework for...