​Vesović: We are Putting Joint Efforts to Increase Youth Employment in the Western Balkans

Paris, May 17th, 2022

Strengthening the labor market, youth employment, support, and the engagement of talent can significantly accelerate economic and overall development in Southeast Europe, it was pointed out in Paris at the conference "Human Capital - Shaping the Future Together". This high-level event brought together representatives of the Western Balkan Chambers of Commerce who agree that the region has great potential, quality human resources, and talented young people whose skills and engagement can significantly contribute to the prosperity and competitiveness of Southeast Europe.

Mihailo Vesović, Director of the Sector for Strategic Analysis, Services, and Internationalization of the Chamber of Commerce and Industry of Serbia, pointed out the importance of introducing dual education and greater cooperation between the economy and educational institutions, which contributes to creating adequate professionals for new technologies, as well as for creating highly sophisticated products.

"We should especially work on improving the quality of life, encouraging young people to stay in the country after school, improving the possibility of employment in the profession," Vesović added. Unemployment in the region has never been lower, but he said youth employment remains a challenge in all Western Balkan economies.

At the same time, our economies are facing a lack of qualified staff which is why it is extremely important to improve dual education as a means of leveling supply and demand in the labor market, Vesović added.

He reminded us how important is to build a common regional market in the Western Balkans and continue the implementation of initiatives such as the Berlin Process and the Open Balkan, within which a common labor market will soon be established, thus contributing to the free flow of labor. The common regional market will expand the space for domestic businessmen, and thus employ more young people in all six economies of the Western Balkans, which is a prerequisite for them to continue living in the region.

The conference in Paris, held on May 17th at the OECD Headquarters brought together ministers for economic affairs and development and high representatives from Southeast Europe, OECD and EU member states, the European Commission, international partner organizations, chambers of commerce and NGOs, as well as other regional interested parties. The sessions were based on OECD analytical insights and policy recommendations, including a Study on labor migration in the Western Balkans (2022) and a Study on the competitiveness perspective of Southeast Europe (2021).