Regional Cooperation Council

Economic and Social Development

The Regional Cooperation Council recognizes that the development of prosperous market economies underpinned by adequate social systems and policies represents a cornerstone of peace and stability in South East Europe.

During the past nine years, and working under the auspices of the RCC’s predecessor – the Stability Pact for South East Europe – the countries of South East Europe have constructively engaged in a significant number of joint initiatives aimed at fostering economic development and social cohesion in the region. The financial and technical support of International Financial Institutions, including the World Bank, the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), and the Council of Europe Development Bank (CEB) – to name but a few – as well as the support of bilateral donors has been essential in this regard.

The RCC plays an active role in coordinating, facilitating, and providing political support to regional economic initiatives aimed at investment facilitation, SME development, and trade liberalization. In the realm of social issues, the RCC focuses on supporting the reform and streamlining of the region’s employment policies, public health services and, to a lesser degree, housing and urban management practice. Bearing in mind the essential linkages existing between the various areas of activity grouped under the umbrella of economic and social development, the RCC pays special attention to fostering dialogue and synergy between inter-dependent regional endeavours.

Some of the key initiatives in the realm of economic and social development include the Investment Compact for South East Europe which supports the implementation and evaluation of investment reform in South East Europe; the enlarged Central European Free Trade Agreement (CEFTA) which liberalizes trade relations between Albania, Bosnia and Herzegovina, Croatia, The Former Yugoslav Republic of Macedonia, Moldova, Montenegro, Serbia, and UNMIK on behalf of Kosovo in accordance with UN Security Council Resolution 1244; the Bucharest Employment Process which supports the review of national labour policies; and the South Eeast European Health Network – an initiative aimed at improving public health services in the region.

The governments of South East Europe have formally acknowledged the central role of information and communication technologies (ICT) in promoting further economic and social development and catching up with European Union standards and practice. The Electronic South Eastern Europe (eSEE) Initiative, also conducted under the umbrella of social and economic development, promotes the introduction of information and communication technologies across the diverse sectors of government, commerce, education, and public life.

The initiative recently received a special boost with the establishment of the Centre for eGovernance Development in Ljubljana – a public-private partnership that will serve as a single coordination point for eGoverance activities in the region, also providing a network for the creation and dissemination of knowledge regarding eGovernance, eCommerce, and the overall development of modern public administration in South East Europe.