Albania submitting draft economic reform agenda to EC

The reforms will be supported by the EU’s new Growth Plan, a 6-billion-euro ($6.5 million) initiative that aims to accelerate the accession process by supporting the convergence of the Western Balkan countries with the Union. A reviewed draft will be awaiting the European Commission's endorsement by the end of May, Kamenica said during a roundtable discussion on reforms.

The proposed reforms must focus on bolstering regional cooperation, and ensure implementation of a common regional market while also introducing the EU's single market regulations, the European Commission said earlier. Each country’s financial envelope will be proportional to its population and GDP.

A financing facility arrangement will be signed by June, following a potential endorsement of the reform agenda by the EU, Kamenica added.

Albania applied for EU membership in April 2009 and was granted EU candidate country status in June 2014.

($ = 0.923 euro)