European Commissioner for Enlargement and Neighborhood Policy, Johannes Hahn, supported the idea floated by the new Serbian President Aleksandar Vučić, about creating a single market in the region. Mr Hahn believes this would improve economic efficiency of the region with 20 million inhabitants.

Hahn stressed that this initiative cannot derail European integration of countries in the region. Au contraire, “this is about preparing the region for accession to the Union and the single market, so the idea makes a lot of sense”. “The fragmented region is not particularly attractive to foreign investors, but creation of a common market would only increase this attractiveness. This means new jobs, new opportunities.” Hahn estimated that there are unused potentials in the region and that the rate of growth exceeds that of the EU, so it is “important to remain focused on that”.

He also noted that the Berlin Plus, a new German plan for Western Balkans, is not a substitute for EU membership, but that it “demonstrates firm commitment of the EU, and Germany in particular, to further investment and engagement in the region.”

Vučić offered Serbia’s gratitude for any and all assistance granted by the EU, and reminded that the EU is Serbia’s largest trading partner accounting for 67% of all Serbian exports. He raised the idea of a single economic area because “we are all small”.

The EC is expected to open two more chapters in Serbia’s accession negotiations next week when the negotiators meet in Bruxelles.