The Republic of North Macedonia has set up a medium-term policy for stronger economic resilience based on multiple platforms for the period 2021-2025. Policies include smart growth for recovery and sustainable economic development, fiscal consolidation, Economic and Investment Plan, green agenda and revision of existing free trade agreements, said Economy Minister Kreshnik Bekteshi on Thursday addressing the meeting of SEE trade ministers.
The meeting entitled “Challenges and opportunities for trade in post COVID-19 pandemic in Southeast Europe”, this year is chaired by the Republic of Turkey.
“The Economic and Investment Plan is a key document for the Western Balkans, developing new initiatives and projects for creating stronger connections and networks in infrastructure, digitalization and connection of energy and transport, as a new stimulus for economic growth. The common position in this plan is better connection of the economies in the region in fundamental reforms for the development of a common regional market based on the EU rules and standards, in order to make the region a more attractive investment area,” Bekteshi noted.
As an opportunity to facilitate trade in the region, he said that the country has established a joint border control – one-stop shop system with Serbia and integrated border Tabanovce – Presevo crossing for faster flow of passengers, goods, and added that way joint controls will soon be introduced with Albania at the Kafasan border crossing, where a completely new terminal was recently built.
“We have already started activities to expand the green corridors to Bulgaria and Greece. This concept makes the corridors more efficient for export, import and transit of goods, as lanes that ensure faster flow of goods,” Bekteshi said.
Bekteshi said the Republic of North Macedonia had recently begun the process of revising free trade agreements with some of the country’s trading partners, allowing for higher preferential treatment and trade liberalization.
He reminded that the COVID-19 pandemic caused the biggest health and economic crisis in the world so far, which disrupted the normal flow of trade, affected the country’s export sector and reduced economic activity. Pandemic impact on the global economy will be felt this year, until the mass vaccination of the population is over.
He said that country’s foreign trade is mostly conducted within the framework of free trade agreements. So far, the preferential trade network includes 41 countries, all covered by six agreements, with CEFTA countries, EFTA countries and EU members, and bilateral agreements with Turkey, Ukraine and the United Kingdom and Northern Ireland. All these trade partners participate with 75 percent in the total trade of the Republic of North Macedonia in 2020.
“Our trade flow continues in the same way this year, due to the higher system of preferential trading, despite the uncertainty and high risks in times of pandemic,” Bekteshi added.
