Istanbul, 15.11.2012 – Republic of Kosovo started its sustainable economic policy development only after establishing itself as a state, and regional cooperation is a prerequisite for the country’s accession in the EU, said the Economic Development Minister, Besim Beqaj.

Beqaj made these comments in his speech in the Energy and Economy Summit, organized in the capital of Turkey, Istanbul, which is attended by ministers of foreign affairs and economy, and diplomats from the region and beyond.

On this occasion he concluded that Clinton and Ashton’s visit was an indication that Kosovo has a clear perspective for EU accession, and that regional countries should cooperate more to create a sustainable peace. He also added that the normalization of relations with Serbia is a precondition for important processes in the region.

The Minister also said that economic cooperation should precede political cooperation, highlighting the investments undertaken in creating modern road infrastructures with Albania, Serbia and Macedonia, convinced that freedom of movement of people and goods will facilitate Kosovo’s faster EU integration process.

Beqaj highlighted that Kosovo’s ranking in the Doing Business Index as improved for 28 positions (126 in the 2012, 98 in the 2013 report) and that the key improvements are in investors’ protection, business start-up, construction permits, etc.

According to him, based on the WB assessments, Kosovo is a model country for the region in terms of economic growth, macro fiscal stability, and financial stability, as it has a sustainable and stable banking system, a public debt under 6% of the GDP, the lowest in the region and EU.

Minister Beqaj also said that Kosovo’s vision for economic development is to open way for the private sector, economic restructuring through structural reforms, and also brought to the attention of the attendees the key ongoing privatization processes of KEDS, PTK and the construction of the New Kosovo TPP.

In terms of regional cooperation, Beqaj said that Kosovo is a member country of the Energy Community Treaty since 2005, Signatory Party of the CEFTA free trade agreement, and strives to become member of regional projects such as the construction of the “Gas Ring” for SEE countries.

“We believe that security of energy supply, diversification of energy resources in the region, and common energy market, are key elements for our future cooperation in the region”, said the Minister.

Speaking on internal economic developments, Beqaj said that potential sectors for economic development are the energy sector, agriculture, telecommunication and IT, wood and metal processing industry, and food industry.