The third meeting of the Western Balkans Six 6 (WB6) Working Group on Capital/Financial Markets, organized by the Regional Cooperation Council (RCC) is to take place in Podgorica on 11 December 2018. 

This meeting will deliberate on the possibilities of advancing this work towards the overall financial markets development and start discussing possible deliverables for the next WB6 PM Summit (July 2019 in Poland). 

2017 and 2018 represented important milestones for the development of capital markets of the Western Balkans, within the context of the Multi Annual Action Plan for Regional Economic Area (MAP REA). A regional Working Group on Capital Markets has been established and prepared a sound proposal for regional programme on capital markets development, which has been forwarded for consideration to our region’s Prime Ministers within the context of the “Berlin Process” and WB6 Summit in London, July 2018. Given the work previously done on capital markets, the meeting will also aim to continue with this work in order not to lose the momentum and advance the capital markets chapter of the overall financial markets strategy.

The RCC will continue to coordinate this holistic approach towards greater benefits of broader financial sector diversification in boosting growth, jobs and economic convergence, including also other players in this field in addition to the capital markets, such as insurance funds, investment funds, pension funds, venture capital, and others. The work will entail diagnostics of main challenges to financial sector development, prepare adequate measures for addressing those challenges, and implementation of agreed measures through the RCC’s coordinating mechanism (Working Group on Financial Markets) including the region’s relevant authorities and other stakeholders and partners (World Bank and others).