Fostering Economic Cooperation for Enhanced Benefits in the Western Balkans: Needs, Practices and Values

Abstract

The Western Balkan nations continue to face formidable challenges on their path towards integration with the European Union (EU) and the transformation of their political, economic, and social landscapes. Despite numerous regional initiatives and collective efforts, meaningful progress has remained elusive, leaving these countries among the least economically developed in Europe. This paper underscores the critical importance of implementing structural reforms to foster robust economic cooperation and enhance collaboration among institutions within the Western Balkans. By prioritizing the creation of an open labor market and advancing collaborative endeavors, the region can strengthen its integration with the EU and improve the quality of life for its citizens. Recognizing the urgency of these reforms, this study advocates for concerted action to address the persistent economic stagnation and social upheaval plaguing the Western Balkans, positioning them as vital partners in the broader European Economic Area.

Received: 12 February 2024 / Accepted: 20 July 2024 / Published: 05 September 2024