June 1 (SeeNews) - The European Union plans to increase pre-accession funding for the Western Balkan countries and bring them closer to its single market as part of a new growth plan aimed at speeding up their EU accession, European Commission president Ursula von der Leyen said.
Under this newly proposed initiative, the Commission also plans to deepen regional economic integration and accelerate fundamental reforms, von der Leyen said in a speech at the GLOBSEC 2023 Bratislava Forum on Wednesday.
The Western Balkans could join the EU's digital single market in areas such as e-commerce or cybersecurity or facilitate trade in goods and payments, von der Leyen added.
The plan proposes a common regional market based on EU rules and standards to help accelerate accession to the Union.
"A common regional market is crucial to unlock the economic potential of the region. It is crucial to make the Western Balkans a more attractive place for European investors," the Commission president said.
At the same time, Western Balkan countries will have to meet some requirements of membership in advance.
"Think about building an independent and efficient judiciary, ensuring sound public procurement and stepping up the fight against corruption. Or think about the energy market. The Western Balkan region has a huge potential to diversify away from Russian fossil fuels. But it needs to increase energy efficiency, step up diversification and accelerate the deployment of more renewables," von der Leyen said.
North Macedonia, Montenegro, Serbia, Albania and Bosnia and Herzegovina are recognized candidates for membership of the EU. Kosovo submitted its application to join the EU in December 2022.