REGIONAL COOPERATION AND ECONOMIC INTEGRATION
REGIONAL COOPERATION AND ECONOMIC INTEGRATION REGIONAL COOPERATION AND ECONOMIC INTEGRATION
CEFTA-2006 TRADE COOPERATION between 13-29% of the Gross Material Product (European Commission, 2006, p.39). It was shown that in the 1990s history induced trade diversion to the Region and for many SEE countries other country “in the group” was not important trading partner (Sekulovska- Gaber 2003, p.300). Attempts to revive economic integration in the region only gained momentum after the end of the Kosovo War with the creation of the Stability Pact for SEE in 1999. Hence, the recent adoption of the more acceptable term of “South East Europe”, to replace the charged term “Balkans”, guided by the EU, managed to come up with a more consistent regional policy, based on the SAP, financial assistance and a reassured political presence in the region. In accordance with the Stability Pact’s “Memorandum of Understanding on Trade Facilitation and Liberalization”, as the most prominent regional initiative involving SEE, a free trade area in the Region of SEE through the CEFTA agreement was established. The analysis showed that this free trade agreement which started operating in January 2007 already shows positive results, since trade volumes exchanged between the neighbours appear to be increasing. So, the lastly signed CEFTA-2006 agreement finally started promoting regional cooperation between the neighbours. The same conclusion could be drown when the geographical concentration of imports and exports of the Republic of Macedonia are computed. In other words, since those coefficients diminished in 2006 and 2007 in comparison with the period 2000-2004, it might be concluded that the neighbours of the Republic of Macedonia, after signing the CEFTA-2006 agreement, started to come back. On the other hand, the results from the analysis of the latest level of openness of each of the economies in question showed mild openness, present only in the case of Macedonia, which means that the actual exploitation of the opportunities given by the agreement is far below the real potential of the Region. Thus, in the long run, in order to be truly globalizing nations, SEE countries need to increase their exports substantially. And finally, concerning the potential for cooperation in the region of Southeast Europe, no matter the limits, it is expected that the mentioned measures will be important, not only for development of joint trade relations, attracting foreign direct investment and fostering intra-regional trade, but especially for further integrating the region into the global trading environment. Since the gradual implementation of a free trade area and the harmonization of national legislation with EU standards are part of the already signed SAAs, regional cooperation could also help facilitation and acceleration of the process of integrating the Region with the EU countries. Furthermore, this can be a clear signal of the commitment of the SEE countries towards their EU membership. REFERENCES Atanassova Roumiana (2006), Southeast Europe Economic Development and Trade Links in 3 rd International Conference: Regional Economic Cooperation in South Eastern Europe, May 11-14, 2006, Bankya, Bulgaria, pp.173-188. 179
PART II: Commission of the European Communities (2009), Commission Staff Working Paper: EU regionally relevant activities in the Western Balkans 2008/09, Brussels, 3.2.2009, SEC (2009) 128 final. European Commission (2006), Western Balkans in transition, European Economy, Enlargement papers, No.30, December 2006. Falcetti, Elisabetta, Sanfey, Peter and Tepic Sladjana (2005), South-East Europe: opportunities and potential for investment and growth in European Economic Integration and South-East Europe, Challenges and Prospects. Edward Elgar Publ. Inc., pp. 47-61. Jentisch-Muller, Daniel (2007), Deeper Integration and Trade in Services in the Western Balkans – Building Blocks for a Trade-Driven Growth Strategy, EC-WB Office for South East Europe, February 2007. Naghspour, Shahdad and Sergi,Bruno, S. (2008), The Economics of international trade in south-eastern Europe, South-East Europe Review, 2/2008, pp.199-218. Qerimi, Qerim and Sergi, Bruno, S. (2007), The process of EU enlargement towards south-eastern Europe: current challenges and perspectives, South-East Europe Review for Labour and Social Affairs, 02/2007, pp.57-65. Секуловска-Габер, Билјана, Ристески, Славе (2004), Економска статистика, анализа и моделирање на статистичките податоци, Економски факултет, Скопје, 2004. Sekulovska-Gaber, Biljana (2003), The effects of Regional Integration on Exports, International and Monetary Aspects of Transition in South-eastern Europe. SEED- University of Thessaly Press 2003, pp.297-307. The World Bank (2008), Labor Costs and Labor Taxes in the Western Balkans, WB, February 2008 Report. The World Bank (2008). World Development Indicators 180
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PART II:<br />
Commission of the European Communities (2009), Commission Staff Working Paper: EU<br />
regionally relevant activities in the Western Balkans 2008/09, Brussels, 3.2.2009, SEC<br />
(2009) 128 final.<br />
European Commission (2006), Western Balkans in transition, European Economy,<br />
Enlargement papers, No.30, December 2006.<br />
Falcetti, Elisabetta, Sanfey, Peter and Tepic Sladjana (2005), South-East Europe:<br />
opportunities and potential for investment and growth in European Economic Integration<br />
and South-East Europe, Challenges and Prospects. Edward Elgar Publ. Inc., pp. 47-61.<br />
Jentisch-Muller, Daniel (2007), Deeper Integration and Trade in Services in the Western<br />
Balkans – Building Blocks for a Trade-Driven Growth Strategy, EC-WB Office for<br />
South East Europe, February 2007.<br />
Naghspour, Shahdad and Sergi,Bruno, S. (2008), The Economics of international trade in<br />
south-eastern Europe, South-East Europe Review, 2/2008, pp.199-218.<br />
Qerimi, Qerim and Sergi, Bruno, S. (2007), The process of EU enlargement towards<br />
south-eastern Europe: current challenges and perspectives, South-East Europe Review for<br />
Labour and Social Affairs, 02/2007, pp.57-65.<br />
Секуловска-Габер, Билјана, Ристески, Славе (2004), Економска статистика, анализа<br />
и моделирање на статистичките податоци, Економски факултет, Скопје, 2004.<br />
Sekulovska-Gaber, Biljana (2003), The effects of Regional Integration on Exports,<br />
International and Monetary Aspects of Transition in South-eastern Europe. SEED-<br />
University of Thessaly Press 2003, pp.297-307.<br />
The World Bank (2008), Labor Costs and Labor Taxes in the Western Balkans, WB,<br />
February 2008 Report.<br />
The World Bank (2008). World Development Indicators<br />
180
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