Čadež: United Business from Ljubljana to Tirana

The European Union should offer a new path to the Western Balkans through the urgent creation of a European economic community through which the region should become a part of the single market, which is the first step towards full membership in the Union, said Marko Čadež, President of the Chamber of Commerce and Industry of Serbia at Investor Day organized by NLB - Komercijalna Banka.

"Only together can we do miracles. Our message to decision-makers in Brussels and other European capitals is that we need to be creative in the process that began 10 years ago in a world that has changed a lot since then. The EU must find new mechanisms, and we already have proposals, which will enable us to operate from Ljubljana to Tirana and beyond, without barriers to creating the economic community of Europe, "the president of the CCIS explained.

Congratulating the successful start of NLB's business in Serbia, Čadež pointed out that, despite all the risks and challenges, Serbia is still a place worth investing in, attracting 60% of foreign direct investments arriving in the region. He reminded that around 6,000 companies from the region operate in Serbia today, which is the best confirmation that Serbia is worth the investment.

Despite the risks and the latest challenges due to the Ukrainian crisis, Serbia is holding up well while preserving growth, production, exports, macroeconomic and exchange rate stability, and keeping inflation under control, the CCIS President pointed out.

He cites two major business challenges - rising prices of energy and money that will no longer be as cheap as before the pandemic and the Ukrainian crisis. According to the President of the CCIS, regional cooperation is an adequate response to these challenges. "We can use the opportunity to attract new foreign investments in the best way only if we work together, act as one region - one economy, as a common regional market and a single investment destination," said Čadež, adding that the most important thing is connecting through European integration.

He reminded that the business community of the Western Balkans is asking for faster implementation of the plan for the common regional market and removing obstacles in doing business with the EU, which is in the interest of companies from the region and the EU companies operating in our markets. Two initiatives have recently been launched - a joint initiative of the Chamber of Commerce and Industry of Serbia and the Croatian Chamber of Economy (HGK) regarding the facilitation of the trade at road and rail border crossings, reducing waiting at EU entry. The second initiative was a recently held meeting in Brussels with the European Commission where it was pointed out that removing obstacles to doing business with Western Balkan companies with EU partners is a necessity.

All the more important is the Open Balkan Initiative, which should contribute to companies in the region receiving the same treatment as companies from the European Union, even before formal EU membership. This is our way of accelerating internally regional integration. In less than a year since the launch of this initiative, Serbia, Albania, and Northern Macedonia have taken the first and most important steps in facilitating mutual trade, and a common labor market - the system of single work permits - should start functioning soon. The issuance of the first work permits is planned at the Summit in Ohrid, on June 9th and 10th announced Čadež.

This will enable local and foreign companies to find suitable workers and experts in other countries of the Open Balkan and hire them more easily without bureaucratic procedures.