RAČIĆ: THE WESTERN BALKANS SHOULD BE BUILT ON KNOWLEDGE-BASED ECONOMY

JAHORINA, MAY 12 /SRNA/ – The Western Balkans today faces a choice whether to remain a region of cheap labour and youth emigration or become a region built on a knowledge-based economy, technology and sustainable resources, said Goran Račić, the chair of the Jahorina Economic Forum.

Opening this year's forum, Račić emphasized that at a time of global changes that are occurring faster than ever, the forum's theme "Western Balkans: Economic Integration, Innovation and Sustainable Development" represents a question of the course which the region will move in. "A region with nearly 18 million people, access to a market of more than 600 million inhabitants, natural resources, energy potential and a favourable geostrategic position must not remain Europe's economic periphery," Račić stressed, adding that the region has the capacity to create an integrated regional market through its own efforts. He pointed out that a unified regional market, faster movement of goods and services, mutual recognition of qualifications and diplomas, and technological connectivity are concrete steps that can deliver better results and provide a future for the Western Balkans. Račić stressed the need to establish a one-stop border crossing system, meaning a single platform for customs, inspections and documentation within Western Balkan countries. "In the next 30 days, we will launch an initiative and call on all relevant ministers from the Western Balkan countries to open dialogue on establishing a unified one-stop border system. The goal is clear - less waiting, less bureaucracy, more investment and more trade," Račić emphasized. He noted that the Jahorina Economic Forum exists as a place for dialogue, exchange of ideas and creation of concrete solutions, adding that the results of previous forums have shown that dialogue makes sense, as some initiatives have found their way into institutions and practical solutions. "Reform of secondary education, the introduction of dual education, free economic zones, and VAT refunds on the purchase of a first property are just some of the ideas that originated from this forum," Račić recalled. He expressed hope that this year's forum would also contribute to creating policies that accelerate regional development. Dragan Šagovnović, director general of the Economic Institute Belgrade, pointed out that the Jahorina Economic Forum has positioned itself as a regional forum. Šagovnović proposed that the next forum address the topic of the so-called silver economy, which focuses on the elderly population and how their experience can significantly contribute to the economy. He added that development in the energy sector must take a regional approach, recalling that the Economic Institute Belgrade proposed in 2008 the integration of the power industries of Republika Srpska and Serbia.