SARADNJA JEDINICA LOKALNE SAMOUPRAVE I LOKALNI EKONOMSKI RAZVOJ
COOPERATION OF LOCAL SELF-GOVERNMENT UNITS AND LOCAL ECONOMIC DEVELOPMENT

Summary/Abstract: Local self-government represents the right and ability of local self-government units to regulate and manage certain public affairs within the established competencies, based on their own responsibility and in the interest of the local population. The establishment of strong local authorities ensures the dispersion of power in the state along a vertical line. Local self-government units are becoming the most important segment in globalization, and this requires strengthening the position of local self-government. The European Charter of Local Self-Government contains standards for the establishment and development of local self-government in the European environment. The right to cooperation and association in the interest of the common needs of local self-government units is one of the standards of the European Charter of Local Self-Government. In the Member States of the European Union, local and regional self-government has a particularly important role. Local economic development includes any intervention by which local actors and local authorities seek to use local resources in order to increase the volume of economic activities and create a favorable business environment. The primary goal of local economic development is to use the comparative advantages of the local community in the most efficient way: location, natural resources, the entrepreneurial ability of local self-government, sectoral structure and competitive advantages of existing companies, level of infrastructure, level of education, demography, business environment and socio-cultural situation, etc. Local authorities have a number of opportunities at their disposal to take the initiative in creating the business environment. International cooperation is a way to collect and apply good practices in creating the business environment. The relations of sister cities can also be an international bridge for economic development activities, through business partnerships that encourage development and raise the profile of their city as an international destination.

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