Investments and Trade
RCC’s agenda is to improve investment environment in the region
- Reduce the region’s trade deficit
- Increase the rate of creation of new businesses
- Create more jobs
- Increase Foreign Direct Investments (FDI) in SEE by 160%
- Manufacture and construct new production plants, as a share of total FDI in SEE
- We set the grounds for development and establishment of regional investment reform agenda
- We raised awareness on importance of regional market integration
- We initiated regional dialogue on how to improve business and investment climate, so as to attract more investments and business
- We put forward the idea of promoting SEE as a single investment space in the global business environment
- We increased participation of business in public-private sector dialogue
The RCC’s investment and trade agenda foresees improvement of investment environment in the region by putting in place a regional investment reform agenda seeking to harmonise the rules for investment entry, treatment, and protection across the region and complement the free trade agenda already in place; and formalising this investment reform agenda in the best possible manner by establishing a regional investment instrument among the participating economies.
The focus of the RCC’s activities for the upcoming three-year period will be to enhance investment environment in the region, and further integrate pertinent policies internally and with the EU, particularly in areas related to investor entry, mutual protection and incentive schemes.
RCC will work towards harmonising the approaches to investment through an agreed regional investment agenda among the economies, complementing the existing trade agenda and ongoing efforts in trade facilitation and liberalization. This activity will be conducted through a structured regional dialogue of the involved economies, supported by the private sector and relevant regional and international partners. Joint Working Group on Investment has already been set up and the Ministers in charge of investment have already mandated the RCC to explore the possible legal and policy basis for the regional investment agenda.
To support these activities, the RCC and CEFTA will engage with the World Bank in this area to solicit support and technical assistance in investment policy-related activities that would back the overall process. This assistance should become available through an EU-funded action during 2017. In addition to facilitating and managing the process, RCC will also be providing specific analysis and assistance to the process with a view of agreeing a regional investment instrument by 2019.
In the endeavours of improving the business environment, the RCC will work with the region’s governments and its partners in improvement of licensing procedures, taxation systems, and ensuring fair and transparent competition rules
The RCC activities in this agenda are mostly being implemented through the following:
Our Next Steps
In the forthcoming period the RCC will:
- Enable consensus on regional investment agenda, in order to enhance further market integration;
- Assist the region in promoting itself as a single investment destination and a reliable partner to the global business community;
- Help improve local services to businesses and create one-stop-shops for investors;
- Ensure regional ownership through regional platforms of SEE Investment Committee, both in decision-making on priority areas and in expert analytical work;
- Coordinate regional activities with the individual Economic Reform Programmes;
- Identify and prioritise common issues and challenges hindering investment activities;
- Facilitate concrete and tangible projects related to promoting investments.