The CEFTA agreement and european integration of the Western Balkan countries Cover Image

CEFTA споразум и европске интеграције земаља Западног Балкана
The CEFTA agreement and european integration of the Western Balkan countries

Author(s): Birsena Duljevic
Subject(s): EU-Legislation
Published by: Институт за међународну политику и привреду
Keywords: Regional cooperation;Western Balkans;CEFTA;economic;Southeast Europe;Serbia;European Union

Summary/Abstract: The process of globalisation of the world economy has initiated the need to include the majority of countries inworld economic flows. In this sense, the need for a more intensive exchange of goods, services, labour, and capital has grown. For the countries of the Western Balkans, this process has been a major challenge in the process of joining the European Union. The challenge was to harmonize customs and other policies, and existing institutions, as well as to adapt the economic systems of countries in transition to market conditions. Starting from the assumption that the countries of the Western Balkans region are committed to joining the European Union, the present paper discusses the conceptual outcomes of cooperation between the countries of the region and the implementation of the CEFTA agreement. The aim of the research in this regard is to scientifically consider the basic postulates of regional economic cooperation in the context of European integration. Since the CEFTA agreement was supposed to lead to greater and faster market liberalization but also greater economic growth in the Western Balkans, countries had to adjust their economic policies to the new business conditions in the world market, which were largely affected by the 2008 economic crisis, and for the purpose of realising the envisaged trade facilitation, which abolished import and export duties and enabled the free movement of goods and capital.

  • Issue Year: 2022
  • Issue No: 77-78
  • Page Range: 407-423
  • Page Count: 17
  • Language: Serbian