Fullani appeals for regional economic cooperation

TIRANA, Oct. 8 – Increasing regional cooperation will make Balkan economies stronger in their growth prospects and more protected to crisis threats. The appeal was made by Ardian Fullani, the governor of the Bank of Albania, at an international conference on the banking sectors of the countries of Central and Eastern Europe held this week in Prishtina, Kosovo.
Criticizing the drafting of development strategies with a clear national character as problematic for the region’s long-term sustainable growth, Fullani said “lack of regional viewpoint does not favour the individual success of small economies in the global economy.”
He appealed for the continuation of the integration of transport and energy infrastructure, capital, labour and raw material markets.
“Our economies are vulnerable and influenced by global developments because they are small economies in a fragmented region depended on foreign currency inflows in the form of foreign investment, exports and migrant remittances.”
According to him, the integration of the Balkan economies will identify the regional comparative advantages, increasing the competitiveness of each economy. As a result, integration will convert the region’s tendency to be negatively affected by global developments into a positive impact to achieve high and sustainable growth in the long-term.