Challenges of Enlargement in the Western Balkans - TEPSA
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
Challenges of Enlargement in the Western Balkans
Danijela Jaćimović*, Joel I. Deichmann**, Kong Tianping***
of states in the interest of mutual benefit, best
exemplified by the European Union (EU).
Abstract European integration is an ongoing project
Political and economic reforms in the that began in the wake of the unprecedented
Western Balkans have stalled recently. The human suffering and material destruction of
reasons include diminishing interest among World War II. Initially, formal cooperation
political elites in the region, expansion between states was intended to prevent future
fatigue in the EU and its Member States, conflicts, but as peace returned to the
severe economic effects of recent crises, and continent, the realisation of economic benefits
the growing role of geopolitics. Actions are rose to the forefront of integration goals1.
needed to reinvigorate democratisation and
Economic integration eases restrictions on
EU integration in the region. These include
trade and foreign direct investment (FDI),
strategic cooperation with the EU and China,
alongside improving investment climates which in turn has the potential to promote
and policies. EU-guided reforms should be economic development2.
harmonized and parallel across the Western The Western Balkan countries continue to
Balkans. petition for full EU membership3, although the
assumption that the EU will improve the lives
of its citizens is sometimes challenged
(consider, for example, Norway’s 1995
Introduction
referendum and the Brexit vote of 2016).
Through the technology-enabled processes of Concurrently, EU Member States have grown
globalisation, the world has effectively grown increasingly cautious of expansion following
smaller, introducing levels of interaction the addition of Romania and Bulgaria just prior
between countries that until recently were to the Global Financial Crisis (GFC) of 2008,
unimaginable. One aspect of globalisation is which also hit Mediterranean countries
the formal political and economic integration disproportionately hard, ultimately fueling
1 Martin, P., Mayer, T. and Thoenig, M. (2012) “The 3 Western Balkan countries had different levels of success
geography of conflicts and regional trade ranging from Croatia’s 2013 full EU accession to arms-
agreements“, American Economic Journal: length Stabilization and Association Agreement (SAA)
Macroeconomics, 4(4), pp. 1-35. signed by Bosnia and Herzegovina in 2015 and Kosovo in
2 Alfaro, L. (2017) “Gains from foreign direct investment: 2016, the latter remaining unrecognized by five EU
Macro and micro approaches“, World Bank Economic members.
Review, 30, Supplement 1, pp. 2-15.
* Danijela Jaćimović is Professor of International Economics and Globalization and Economic Policy at the Faculty of Economics of the University
of Montenegro.
** Joel I. Deichmann is Professor of Economic Geography in the Global Studies Department at Bentley University in Waltham, Massachusetts,
USA.
*** Kong Tianpin is Senior Research Fellow of the Institute of European Studies, Chinese Academy of Social Sciences and Professor of University
of Chinese Academy of Social Sciences.Challenges of Enlargement in the Western
TEPSA Briefs – January 2022
Balkans
Euroscepticism across the continent. integration. Finally, the role of geopolitics is
Presently, sentiments against integraton are increasing in the region, with international
compounded by the closure of borders as tensions rising between the United States and
governments struggle to protect their citizens China, concurrent to the EU’s ascent as a
from successive variants of COVID-19. geopolitical player.
While the EU struggles with these distractions, The recent reform of EU enlargement policy
China has re-emerged as a global player, both brought the introduction of new approaches
politically and economically. Over the past and mechanisms in negotiation methodology.
decade, China has made overtures to the This has created a certain fear among the
Central and Eastern European countries (CEEC) countries of the Western Balkans that they will
through major projects such as the 17+ 1 remain outside the EU permanently. The goal
framework and the Belt and Road Initiative was to create a more dynamic process by
(BRI). The 17+1 framework is intended to clustering the chapters of the acquis
complement existing bilateral relations communautaire in the negotiation process and
between China and CEEC. The BRI is a grand placing its essentials, notably the rule of law
infrastructure project that will better link China and fundamental rights, in the centre of the
with the rest of Asia as well as Europe and process. This also involves providing clear
Africa to promote trade, investment, and conditions and decisive measures that would
cultural exchange. sanction non-fulfilment. Concurrently, tangible
benefits for citizens and opportunities for
For the Western Balkans, it has become clear
gradual integration into EU policies and
that a return to the pre-COVID integration
programmes – including possible observer
momentum is unlikely to happen soon 4. The
statuses in EU institutions – are emphasised as
European Commission’s 2021 reports on EU
a means of increasing the political appeal of
enlargement for the Western Balkan region
the process across the Western Balkans.
openly highlight concerns about the lack of
progress in a number of areas, particularly the While the EU sees political criteria to be
rule of law and fundamental rights. These crucially important to the integration
concerns echo reservations about expansion aspirations of the Western Balkans, it is also
among some influential members states. interesting to investigate from the bottom-up
the reasons underlying political and
The inhibitors to Western Balkan integration
democratic setbacks in the region. This brief
with the EU are numerous. They include
suggests ways to move the political agenda
declining commitment among political elites to
forward in the region and create a dynamic
make the necessary radical reforms that are
that will take both political and economic
both painful and difficult to begin with, and
needs into consideration. The brief argues
ultimately, they do not guarantee EU
that: i) Political consolidation is needed as a
accession. At the same time, a clear reluctance
precondition for integration, ii) Mutual
by both the EU and its Member States to
political and economic convergence with the
become more actively engaged in political and
EU must be a continuous and parallel process,
economic processes in the Western Balkans
and iii) Investment is an essential tool for the
also plays a role. Moreover, the powerful
integration and development of the Western
negative economic impacts experienced
Balkans, through EU funding as well as China's
during the GFC and COVID-19 pandemic
BRI initiative.
exacerbate the challenge of further
4 Ruge, M. (2021) “Six Principles to Guide EU Action in the
Western Balkans“, IAI Commentaries, Rome: Istituto
Affari Internazionali.Challenges of Enlargement in the Western
TEPSA Briefs – January 2022
Balkans
compounded by the problematic behaviour of
two new Member States that have
Sustained political reform is essential experienced the most rapid autocratic
The need to strengthen the rule of law and transition in the last decade (2010-2020).
protect fundamental rights are key pillars of These countries are shaking the EU's internal
any stable liberal democracy. This is especially political scene. The problematic policies and
true when we consider the fact that the rhetoric of these governments not only pose a
modern world is experiencing a rise in threat to the EU's internal democratic
populism, polarisation, and authoritarian foundations, but also spread scepticism
tendencies. towards further EU enlargement to the
Western Balkans because some candidate
Usually, a significant crisis (whether financial or
countries are viewed as potential hiers to such
in relation to health) is seen as a major game
rule of law problems6.
changer, most notably in recent economic
history. In our globalised world, the impacts of Western Balkan countries were devastated by
crises have become more rapid and extensive, the GFC of 2008, which challenged the weak
and are especially dangerous for weak and fiscal systems of their economies. At the same
less-developed systems. Where economic time, EU countries, and especially Eurozone
instability exists, such crises are usually countries, received generous financial help
accompanied by political and geopolitical that contributed to a significantly faster
tensions. Such is the case in the Western recovery. The small and less-developed
Balkans, although the effects of past and neighbouring countries received minimal
current crises are visible everywhere. financial assistance from the EU, which is
especially notable given that both Montenegro
and Kosovo use the Euro as their official
currency. Additionally, the situation worsened
Usually, a significant crisis (whether over time, with the withdrawal of some EU-
financial or in relation to health) is seen as a based FDI projects during the crisis period.
major game changer, most notably in recent Downsizing economic activity ultimately
economic history. In our globalised world, resulted in higher social and political tensions
the impacts of crises have become more in the region. In sum, the GFC hampered
Western Balkan development in several ways
rapid and extensive, and are especially
over the past twelve years. These include: i)
dangerous for weak and less-developed people lost hope for prosperity and began
systems. Where economic instability exists, seeking EU working permits, ii) the appeal of
such crises are usually accompanied by right-wing populist and authoritarian leaders
political and geopolitical tensions. has increased, and iii) the region has
progressively looked to Turkey, the Arab
states, and China to fill the void in investment
from EU origins7.
While the EU continues to face the negative
economic consequences of major global crises, In addition, the ongoing COVID-19 crisis has
Alizada et al.5 argue that the situation is caused immeasurable damage. It will take
years to rebuild and recover from the
5 Alizada, N., et al. (2021) Autocratization Turns Viral. 7Deichmann, J. (2021) (ed.) Foreign Direct Investment in
Democracy Report 2021, University of Gothenburg: V- the Successor States of Yugoslavia: A Comparative
Dem Institute. Economic Geography 25 Years Later, Basel, Switzerland:
6 Böttger, K. and Maugeais, D. (2021): “Countering the Springer Nature.
Rule of Law Backsliding in the Western Balkans“, ÖgfE
Policy Brief, No 11 (Accessed 15 November 2021).Challenges of Enlargement in the Western
TEPSA Briefs – January 2022
Balkans
economic devastation and to restore jobs and Ambassador of the European Union to
growth in the region. The GFC and COVID-19 Montenegro, Oana Kristina Popa, pointed out
have also affected domestic political spaces that mutual political and economic
across the Western Balkans, meaning that this rapprochement with the EU is a continuous,
region has experienced substantial democratic parallel and challenging process, emphasising
backsliding8. This development is to some that "one cannot have an advantage over the
degree associated with recent geopolitical other, because both processes are closely
changes. connected. The EU is ready to help both
politically and with large investments through
The European Commision and several Member
the Economic Investment Plan, Pre-Accession
States have pointed to the need for EU internal
Assistance Instrument (IPA) projects, and other
reform towards domestic democratic
investments"11.
challenges, as well as concerns about
departures from democracy in the Western At the same time, further economic
Balkans. This has made the process of integration can provide a springboard in the
integration more demanding, creating a process of EU accession. However, this process
situation where “the EU accession perspective is likely to suffer from the same political
of the Western Balkan countries and the EU’s handicaps that have undermined progress in
internal developments are as strongly tied the reforms set out in the integration agenda.
together as they have ever been“ 9. Indeed, it For the region to truly develop, economic
is becoming more obvious that the coming integration must be accompanied by reforms
years will be decisive for the democratic and regarding the rule of law.
EU-oriented future of the region.
According to Džihić, Schmidt and Poli (2021),
On the basis of findings by Böttger and what is needed is a new development strategy
Maugeais (2021), the EU and its Member that focuses on specific sectors in order to
States should step up their efforts to promote strengthen national and regional comparative
the rule of law in the Western Balkans, and advantages, and one of the concrete measures
perhaps take some responsibility for the should be the acceleration of the EU's
region's democratic setbacks. The Aspen promised investment plans12.
Institute suggests that without improved
monitoring and assessment of reform
The importance of economic
mechanisms supported by political integration and FDI
consequences for governments in the region, it For the Western Balkans to truly progress
is unrealistic to expect any major changes or a towards the EU and gradually adopt European
transformative effect purely on the basis of the values, strong political and economic action is
revised methodology 10. required by Brussels. Unfortunately, all
This already-difficult situation has become countries of the region have experienced
more serious with the ongoing impact of setbacks in this area.
COVID-19. The regional economic shock The Economic and Investment Plan (EIP) for
caused by the pandemic cannot be overcome the Western Balkans, launched in October
by Western Balkan countries alone. The
8 Alizada et al. op cit. Solidarity in Action and the Future of Europe: Views from
9 Böttger, K. and Maugeais, D. op. cit. the Capitals (2021), published by Springer, Faculty of
10 Aspen Institute (2021) Do the Western Balkan Economics, University of Montenegro, 3 November,
countries need a different model of EU accession? 16 2021). More information can be found at
September 2021 (Accessed 15 November 2021). http://cepeuch.com
11 Comments made at the Public debate entitled 12 Džihić V., Schmidt, P. and Poli, E. (2021) “The Plight of
“Enlargement solidarity: between political and economic the Western Balkans Is a Wake-up Call for Europe“, IAI
convergence and solidarity in the Third volume: European Commentaries, Rome: Istituto Affari Internazionali.Challenges of Enlargement in the Western
TEPSA Briefs – January 2022
Balkans
2020, represents a substantial investment marginal increase of 6.8 % demonstrates that
package that has ambitions to boost economic the EU is missing another opportunity to
development. This will be done through narrow the socio-economic gap between the
support for competitiveness and inclusive EU and the Western Balkans14.
growth based upon sustainable connectivity
Bartlett argues that the most important aspect
with an emphasis on green and digital
of Balkan integration with the EU is economic
technology. The EIP will mobilize up to EUR 9
security through trade, FDI, and inclusion in
billion from IPA III for the period 2021-27, plus
international supply networks15. All of these
up to EUR 20 billion in investment over the
require improved infrastructure. In the
next decade.
Balkans, connectivity lags far behind other
The Western Balkans Investment regions of Europe. The EU and China have both
13
Framework provides financial and technical introduced projects that will make this region
assistance, mainly focusing on transportation far more accessible to the global economy.
projects, both by improving existing
The investment needs of the region are
infrastructure in the region and developing
significant, and all countries in the region are
new projects. One example is the Balkan
extremely reliant on FDI inflows. The speed of
portion of Europe’s Trans-European Transport
their recovery and sustainable convergence
network, which will connect larger Balkan
with the EU will thus depend on the rate and
cities with those in EU Member States.
level of inflow of capital. Deichmann's edited
Through grants, loans, and investments, this
volume16 examines the role of foreign direct
will mainly benefit cities in Serbia,
investment across the region, with country-
Montenegro, Bosnia and Herzegovina, and
specific chapters contributed by local scholars
Kosovo. For the EIP to be successfully
from Yugoslavia's successor states. Without
implemented, these funds must be fully
exception, the authors arrive at a consensus
disbursed for the specified projects. EU
that FDI is a necessary tool for Western Balkan
assistance is required to support local
governments in pursuing their objectives of
governments and enhance their administrative
integration and development. FDI will enable
and technical capacities to apply for funding,
greater transfers of know-how and technology
then guide them in implementing the
to domestic firms, which is essential for post-
approved projects in a timely manner.
pandemic recovery. However, the attraction of
However, the question arises as to whether the
sufficient FDI into the Balkans requires further
allocated amount is sufficient, bearing in mind
integration with the EU as well as
the effects of the prolonged COVID-19 crisis. By
infrastructure improvements through both EU
comparison, some neighbours of the Western
funding and projects such as China’s BRI
Balkans are expected to receive ten times
initiative.
more aid.
Although not among the leading global
Although the EIP has great ambitions, the
destinations for FDI, the importance of FDI
announced IPA III has seen only an increase of
inflows to the Western Balkans cannot be
EUR 800 million in availalbe funding compared
overstated. Unfortunately, even before the
to the previous programming period (at 2018
dramatic drop-off due to COVID-19, overall
prices). The Aspen Institute stated that it is
global FDI flows had already declined for 5
encouraging that the EU has decided to
increase the package for the region, but the
13 For more information, see https://wbif.eu/ 15 Bartlett, W. (2009) “Economic development in the
14 Aspen Institute. op. cit. European super-periphery: evidence from the Western
Balkans“, Economic Annals, 54(181), pp. 21-44.
16 Deichmann, J. op. cit.Challenges of Enlargement in the Western
TEPSA Briefs – January 2022
Balkans
years17. Western Balkan countries, faced with and its presence in the region does not
decreasing financial flows from European undermine the process of EU accession22.
countries in the last decade, have sought to
Despite the rhetoric of some politicians fueling
replace this FDI with projects from “new”
geopolitical tensions, currently China’s
origins such as the United Arab Emirates and
influence in the region remains minor.
Turkey, and more recently from China18.
Unfortunately, normal economic exchanges
Chinese interest in Europe has received are sometimes feared to be politically
considerable scholarly attention in recent motivated. In addition, economic cooperation
years19. As FDI flows from China increase, many is suspected as a play for political influence,
in the EU view China’s economic presence in and infrastructure project financing is
the Western Balkans in negative terms20 with perceived as a potential “debt trap”. China’s
fears about the long-term motives behind economic engagement serves the
Chinese infrastructure projects. There have development needs of the Western Balkans
even been cases of politicians in the Western countries and does not constitute a zero-sum
Balkans overplaying Chinese influence to game for the EU. The Western Balkans region
attract greater attention from the EU, warning is at the forefront of geopolitical competition
that if the EU withdraws from the region, the and as such the Western Balkans countries are
void will be filled by China. affected by this geopolitical game to varying
degrees.
However, China argues that it does not have
geopolitical ambitions in the region21. Over the On the one hand, China has followed closely
past decade, China set forth the Cooperation the trends of geopolitical changes and paid
Framework with CEEC. As part of CEEC, the attention to geopolitical risks, while on the
Western Balkan countries are an essential other, China has not given up attempt to ramp
component of China’s foreign policy. up mutually-beneficial cooperation with the
Specifically, the BRI gives new importance to Western Balkans countries. As far as the
relations between China and the Western economic affairs are concerned, there is still
Balkan countries. China assures Europe that it room for both China and the EU to cooperate
does not wish to transform the Western in the Western Balkans.
Balkans or export its governance model.
Currently, China’s trade with the Western
Conclusion
Balkans remains negligible compared to that of In conclusion, the political and economic
the EU, its investment in the region is still at future of the Western Balkans lies in the
relative low level, and its economic balance. This brief highlights the geostrategic
engagement focuses on transportation and importance of the region in the present
energy infrastructures. China's government context of economic stagnation and capital
states that it supports the European scarcity induced by the ongoing COVID-19
perspective of the Western Balkans countries, pandemic. In their efforts to facilitate
17 See OECD (2020) Foreign direct investment flows in the Foreign Direct Investment in Europe“, Asian Economic
time of COVID-19 (Accessed 15 November 2021); OECD Papers, 18(2), pp. 102-119 and Deichmann, J. op cit.
(2021a) COVID-19 fallout sinks global FDI flows by 38% in 20 Pavlićević, D. op. cit.
2020 (Accessed 15 November 2021) and OECD (2021b) 21 Lijian Z., Foreign Ministry Spokesperson's Regular Press
Global FDI flows rebound to exceed pre-pandemic levels Conference on July 13, 2021 accessed 20 July 2021).
(Accessed 15 November 2021). 22 Jin L., Chinese Ambassador to Montenegro, statement
18 Deichmann, J. op. cit. at the seminar “The EU, China and the Western Balkans:
19 See for instance Pavlićević, D. (2018) “‘China threat’ The Challenges and Prospects of Further Integration“,
and ‘China opportunity’: politics of dreams and fears in organized with the Jean Monett Centre of Excellency:
China-Central and Eastern European relations“, Journal Challenges of Enlargement Policy: EU versus Chinese
of Contemporary China, 27(113), pp. 688-702; Richet, X. diplomacy in Western Balkans, hosted by the Faculty of
(2019), “Geographical and Stratefic Factors in Chinese Economics of the University of Montenegro, May 2021.Challenges of Enlargement in the Western
TEPSA Briefs – January 2022
Balkans
economic recovery and greater participation in have tourism that depends on visits from the
the global economy, the countries’ leaders find former Soviet republics… We have to ask
themselves weighing tradeoffs between two ourselves, what is more important - values and
ideas or investments. Cooperation with China is
principal partners for the future: the EU and
inevitable. We have to cooperate with almost
China. European integration is widely seen as
everyone, without exception. Cooperation and
the panacea to the challenges facing the economic cooperation is one thing, and political
Western Balkans. However, the window of orientation and values are something totally
opportunity for the EU is closing. In recent different. In our thinking and values we are the
years, it is China that has been increasingly political West24.
assertive in reaching out to the region with
Indeed, foreign capital remains an essential
infrastructure assistance, which is bound to be
tool for development in the Western Balkans.
followed by more Chinese FDI and other
FDI is linked to integration with Europe as well
involvement that some critics view as a
as with the global economy. Like the EU, China
potential threat to Europe23.
and other countries can be partners for
To be proactive, the EU should seek ways to Western Balkan development. While FDI is
swiftly and significantly increase its investment essential to promote economic growth as well
in the region by allocating more funds than as transfer of skills and technology, Deichmann
those already committed through the EIP. One argues that governments should prudently
option could be to grant Western Balkan screen FDI for potential negative impacts on
governments gradual access to the EU’s the societies and environment of the Western
structural funds. In this way, the region's Balkans25. As regional advantages, policy-
governments would be incentivised to honor makers and investment promotion teams
their commitments for reform. This would also should leverage lower labour costs and
improve the EU’s image in the Western Balkans favorable corporate tax regimes in the
through tangible and visible benefits for the Western Balkans. Other keys to attracting FDI
local populations. By narrowing the to the region include further integration with
development gap, the countries of the region the EU as well as infrastructure improvements
will have less need to look for assistance from through EU funding and projects such as
external actors such as China, Russia, Turkey, China’s BRI initiative as well as smaller
and the Arab states. infrastructure projects in major cities. Finally,
However, the window of opportunity will not in this time of pandemic-induced economic
remain open indefinitely for the EU to crisis, the EU and its Member States should
consolidate its role in the Western Balkans. As capture the present opportunity to consolidate
reported by Brennan, Montenegro's Minister their role in the Western Balkans by engaging
for Foreign Affairs, Đorđe Radulović, stated: the region more fully.
We want to see more investment from the
West. The Western Balkans is the heart of
Europe, not the EU, but of Europe, and
Montenegro is in the heart of the
region. Americans and Europeans must be
more determined in the region. We are part of
the political West, but our economy depends on
the political East. We have a Chinese loan, we
23Pavlićević, D. op. cit. 25 Deichmann, J. op. cit.
24 Brennan, D. (2021) ”U.S., EU Risk Losing 'Heart of
Europe' to China, Montenegro Warns”, Newsweek, 12
November 2021 (Accessed 15 November 2021).Challenges of Enlargement in the Western
TEPSA Briefs – January 2022
Balkans
References
Alfaro, L. (2017) “Gains from foreign direct investment: Macro and micro approaches“, World Bank Economic
Review, 30, Supplement 1, pp. 2-15.
Alizada, N., et al. (2021) Autocratization Turns Viral. Democracy Report 2021, University of Gothenburg: V-Dem
Institute.
Aspen Institute (2021) Do the Western Balkan countries need a different model of EU accession? 16 September
2021 (Accessed 15 November 2021).
Bartlett, W. (2009) “Economic development in the European super-periphery: evidence from the Western
Balkans“, Economic Annals, 54(181), pp. 21-44.
Bonomi, M. (2021) (ed) Search of EU Strategic Autonomy: What Role for the Western Balkans, Rome: Istituto
Affari Internazionali.
Böttger, K. and Maugeais, D. (2021): “Countering the Rule of Law Backsliding in the Western Balkans“, ÖgfE Policy
Brief, No 11 (Accessed 15 November 2021).
Brennan, D. (2021) ”U.S., EU Risk Losing 'Heart of Europe' to China, Montenegro Warns”, Newsweek, 12
November 2021 (Accessed 15 November 2021).
Deichmann, J. (2021) (ed.) Foreign Direct Investment in the Successor States of Yugoslavia: A Comparative
Economic Geography 25 Years Later, Basel, Switzerland: Springer Nature.
Džihić V., Schmidt, P. and Poli, E. (2021) “The Plight of the Western Balkans Is a Wake-up Call for Europe“, IAI
Commentaries, Rome: Istituto Affari Internazionali.
Jin L., Chinese Ambassador to Montenegro statement at the seminar “The EU, China and the Western Balkans:
The Challenges and Prospects of Further Integration“, organized with the Jean Monett Centre of Excellency:
Challenges of Enlargement Policy: EU versus Chinese diplomacy in Western Balkans, hosted by the Faculty of
Economics of the University of Montenegro, May 2021.
Lijian Z., Ministry Spokersperon's Regular Press Conference on July 13, 2021, accessed 20 July 2021).
Martin, P., Mayer, T. and Thoenig, M. (2012) “The geography of conflicts and regional trade
agreements“, American Economic Journal: Macroeconomics, 4(4), pp. 1-35.
OECD (2020) Foreign direct investment flows in the time of COVID-19 (Accessed 15 November 2021).
OECD (2021a) COVID-19 fallout sinks global FDI flows by 38% in 2020 (Accessed 15 November 2021).
OECD (2021b) Global FDI flows rebound to exceed pre-pandemic levels (Accessed 15 November 2021).
Pavlićević, D. (2018) “‘China threat’ and ‘China opportunity’: politics of dreams and fears in China -Central and
Eastern European relations“, Journal of Contemporary China, 27(113), pp. 688-702.
Richet, X. (2019), “Geographical and Stratefic Factors in Chinese Foreign Direct Investment in Europe“, Asian
Economic Papers, 18(2), pp. 102-119.
Ruge, M. (2021) “Six Principles to Guide EU Action in the Western Balkans“, IAI Commentaries, Rome: Istituto
Affari Internazionali.Challenges of Enlargement in the Western
TEPSA Briefs – January 2022
Balkans
Trans European Policy Studies Association Faculty of Economics – University of
Montenegro
Rue d’Egmont 11, B-1000 37 Bulevar Jovana Tomaševića, Podgorica
81000, Montenegro
Brussels, Belgium
To know more about IIR visit:
To know more about TEPSA visit:
https://www.ucg.ac.me/ef/en
www.tepsa.eu
Follow Faculty of Economics – University of
Follow TEPSA on:
Montenegro on:
@tepsaeu
@Univerzitet_CG
@tepsa.eu
@UniverzitetCrneGore
TEPSA – Trans European Policy Studies
Association @Univerzitet Crne Gore
@tepsaeu
The European Commission support for the
production of this publication does not constitute
an endorsement of the contents which reflects the
views only of the authors, and the Commission
cannot be held responsible for any use which may
be made of the information contained therein.You can also read
