ECONOMIC AND SOCIAL DEVELOPMENT
 

In recent years, efforts for economic and social development in South East Europe have been dominated by reform agendas supporting strong economic growth and EU integration.

There is an important number of regional organizations, initiatives and networks in this priority area. CEFTA 2006 is one of the most important achievements of cooperation in the region. It has established a free trade area and is working to deepen it, but is presently faced with challenges related to the participation of all parties to the agreement. The OECD -managed SEE Investment Committee (SEEIC) is the main regional forum for deliberating reform and disseminating policy analysis and advice. The Electronic South East Europe Initiative (eSEE) aims at supporting the development of the Information Society in the region. Other initiatives and networks cover areas such as chambers of commerce, investment promotion agencies, public private partnerships, women entrepreneurs, employment and social policy, trade unions and public health.


Regional priorities for 2011-2013


For the coming period 2011-2013, the assessed regional priorities in the area of economic and social development are:

CEFTA 2006 and overcoming present challenges due to protectionist trends and obstacles in ensuring its inclusiveness. These tasks should be principally carried out by CEFTA’s own structures.

Transferring the South East European Investment Committee (SEEIC) to regional ownership and developing its activity. The SEEIC should play a key role in creating a single investment space in the region which would provide for much needed economies of scale, while preparing regional economies for the prospect of an EU investment market.

Exploring and developing ways to  improve access to finance. Insufficient access to favourable finance remains a key impediment to private sector growth in the South East Europe. Early- stage and risk-capital finance is almost nonexistent. Regional capital markets are currently fragmented through nine stock exchanges in the Western Balkans. More intensive cooperation of South East European capital markets and possible establishment of new regional financing vehicles (ideas for the creation of a South East European Investment Bank, a Western Balkans Technology Fund and a Credit Line for Women Entrepreneurs) should be explored.

Ensuring that economic reforms and  social agendas go hand-in-hand. The full impact of the global economic downturn has reinforced the need for further integrating social agendas into the economic reform deliberations. In line with the renewed EU social agenda, promoting job creation for inclusive economic growth, decent working conditions, and equal opportunities are major priorities for the region. In line with the EU 2020 strategy, a major aim for the region would be to modernise labour markets while enabling people to develop their skills throughout the lifecycle with a view to increase labour participation and better match labour supply and demand.

Pursuing the establishment of the  Information Society by promoting implementation of the Electronic South East Europe Initiative (eSEE) Agenda Plus as defined by the Ministerial Conference in Sarajevo in October 2007.