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Friendshoring has replaced nearshoring after the invasion of Ukraine, benefiting Western-aligned states but causing a shift away from Serbia.
Benefiting from its geographic proximity and historic ties, Italy is already one of the top investors and trading partners of the Western Balkan countries.
Region is ideally positioned as a nearshoring destination for West European companies but reforms are needed if it is to attract potentially billions of euros in foreign direct investment.
Plan will only be effective if region works together Oliver Varhelyi tells summit marred by verbal clash between prime ministers of Serbia and Kosovo.
Pace of reform will determine whether it takes decades or centuries for living standards in the Western Balkans 6 countries to converge with those in the EU, a new EBRD report shows.
EU enlargement strategy "not changed with the decision of the UK”, German Chancellor Merkel told Paris summit.