SE Europe invests in reform

Eight Southeast European states have pledged to abide by a list of common principles and practices aimed at encouraging private investment, from transparent policies and removal of trade barriers to good corporate government and integrity in public administration. This represents an “important step on the path … towards closer political and economic co-operation, as well as greater integration with the European Union and with the broader global economy,” said OECD deputy secretary-general Richard Hecklinger at the signing of a declaration to this effect in Vienna on 18 July.
The declaration was developed under the auspices of the Stability Pact Investment Compact, jointly chaired by the OECD and Austria. The participating states have agreed to hold annual meetings at ministerial level to review progress in fulfilling their commitments. Moldova Deputy Premier Stefan Odagiu said the declaration sent “a powerful message to private businesses about the common effort to create favourable conditions for development in the region.”The signatories are Albania; Bosnia and Herzegovina; Bulgaria; Croatia; former Yugoslav republic of Macedonia; Moldova; Romania; federal republic of Yugoslavia: Serbia and Montenegro. © OECD Observer No. 234, October 2002


Economic data

GDP growth: -1.8% Q1 2020/Q4 2019
Consumer price inflation: 0.9% Apr 2020 annual
Trade (G20): -4.3% exp, -3.9% imp, Q1 2020/Q4 2019
Unemployment: 8.4% Apr 2020
Last update: 9 July 2020

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