REGIONAL COOPERATION AND ECONOMIC INTEGRATION

PART II:
Adriatic gas pipeline is conceived as the project that should connect and facilitate the
gasification for all countries in the region (HGK, 2009).
According to Croatian National Bank data, Croatia has from 2000 to 2008 invested 50.5
million EUR in Macedonia. That is just about 6.1% of Croatian FDI outflows to the region
or 2.6% of total Croatian FDI outflows. From 1993 to 2005 Macedonian firms have
invested 0.71 million EUR in Croatian economy. About 40 Croatian companies operated in
Macedonia in 2008 – half the number than in Kosovo. Lately, interest of Croatian investors
has increased. Firstly, the company INGRA (for construction of investment facilities, import,
export and representation) has paid for Macedonian construction company Mavrovo 7.0
million EUR in 2008, what is equal to the Croatian FDI outflows to Macedonia from 1993
to 2005. Furthermore, in the same year INGRA has purchased Mavrovo Engineering, the
company that is not proprietary associated to construction company Mavrovo. Macedonian
farmers expect a lot from Croatian tourism as a chance for the placement of their agricultural
products. Macedonian agricultural products are of good quality and relatively cheap, plus
they meet European eco standards. Another possible Croatian interest is the placement of
Macedonian wines, which are sold as Macedonian products, or as the brand of a Croatian
distributor. The overall investment 40 million EUR worth is planned to increase production
of vegetables in greenhouses. Besides the interest for the network of redemption centers
for vegetables and fruits, Agrokor is interested in opening even 25 supermarkets (Mlakar
and Ranogajec, 2008). The newest investment in Macedonia is in the field of insurance.
In June 2009, Croatia’s largest insurer Croatia Osiguranje has opened 3.25 million EUR
worth society of non-life insurance.
Albania has so far attracted 8.6 million EUR (2001-2008) which is 1% of total Croatian
FDI outflows to the region in the same period. According to Croatian Chamber of
Economy there has not been any registered Albanian investment to Croatian economy.
Nevertheless, possible areas of cooperation can be identified. They include energetics
(electro energetics and petroleum and gas exploration); machinery, electro industry and
electronics; pharmaceutical industry; construction and investment works (infrastructure,
hydro energetic objects) (HGK, 2009).
Croatian FDI outflow 2000-2008 to Montenegro was 5.8 million EUR which is 0.3% of total
Croatian FDI outflow in the same observed period. Potential branches for investment into
Montenegro are tourism, electric power industry, banks and companies and real estate.
3. Croatian merchandise trade with CEFTA 2006 countries
Table 7 and table 8 show Croatian volumes of export and import with CEFTA members,
respectively, while table 9 shows balance of trade of already mentioned sides.
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