W. Balkan countries to cut transaction fees in EU single market push

Leaders from the six Western Balkan countries - Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, and Serbia - met in Tirana on Thursday to discuss reforms required as a condition for accessing the single EU market.

The European Commission in November adopted the new growth plan for the Western Balkans, supported by a proposed 6 billion euro ($6.5 billion) reform and growth facility, aiming to advance membership benefits, spur economic growth, and help the enlargement process.

In order to be able to take advantage of the growth plan, the countries must address lingering issues with their neighbours.

The proposed financial package, which will comprise some 2 billion euro in grants and 4 billion euro in concessional loans, covers the period 2024-2027.

One of the key issues the Western Balkan countries need to resolve are transaction fees. Albania's prime minister Edi Rama, who hosted the summit, said they are currently six times higher in the region compared with EU countries.

The region will also continue its efforts to enhance and expedite border crossings across all countries. Additionally, they have agreed to establish a joint research and innovation hub and implement a project to provide free wi-fi in public spaces across the region as part of an EU facilitated growth plan, Varhelyi said.

North Macedonia, Montenegro, Serbia, Albania, and Bosnia and Herzegovina are officially recognised as EU membership candidates. Kosovo submitted its EU membership application in December 2022.

($ = 0.925 euro)