The region’s governments must promote innovation to increase competitiveness

Photo: PKCG

The governments of the region’s countries must promote innovation and the use of technologies, as competitiveness in the European Union market cannot be achieved without technological transformation, it was said at the “Montenegro 2026” Economy Conference.

The Director of the CEFTA Secretariat, Pranvera Kastrati, stressed that trade among Western Balkan countries has grown 3.2 times over the last decade, reaching an increase of around 3 billion euros, while she also mentioned the centralised customs platform C+ which has saved around 12,000 hours of waiting at borders.

She warned that the transition to digital certificates, paperless trade and recognition of professional qualifications will reduce business time and costs and facilitate the movement of the workforce in the region.

The European Commission representative, Giorgio Zecca, said regional economic cooperation and European integration must move in parallel, while strengthening economic ties requires quality infrastructure, reforms, harmonisation of procedures and standards with the EU and strengthening of administrative capacities.

At the conference it was also stressed that border waits and complicated procedures increase transport costs and affect companies’ competitiveness, while business representatives asked for faster checks and full digitalisation of processes.

Within the conference, memoranda of understanding were also signed between seven industrial parks and business zones from the Western Balkans and partners from the EU, officially creating the Western Balkans and EU Industrial Parks Partnership, aiming to strengthen business ties, include the region’s companies in European value chains and exchange green practices.