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SРOУБCРIEИTКYА
ECONOMIC ASPECTS
OF THE EUROPEAN
INTEGRATION OF THE
REPUBLIC OF MACEDONIA
Fatmir Besimi Globalization and the well as with 40% of the total foreign
only EU market direct investments at world level. The
The author is former Vice- GDP per capita in the EU is approxi-
President of the Government Globalization and technological de- mately 25,000 Euros and the average
of the Republic of Macedonia velopment, as well as liberalization unemployment rate is between 9 and
in charge of European Affairs, of trade and free movement of capi- 10%. Therefore, the EU integration
and the opinions and views tal increased the mutual dependence for Macedonia would imply an en-
in the article are those of the of the economic, political and social trance to a 25 times larger market,
author processes. These events in the past approximately five times higher stan-
decades create complex challenges at dard of living nominally according to
26 global level, which requires suprana- the GDP per capita, as well as a sig-
tional solution. nificantly lower unemployment rate.
The small countries can hardly Criteria for membership and
affect the policies and the decision reaching the EU standard
making at a global level. The only
way to influence is by means of inte- The process of European integra-
grations of supranational organiza- tion in the 90s of the 20th century
tions. In such a context, in seek of can be interpreted as an offered hand
new markets and more quality life, as and an open signal for realization
well as stable and prosperous future, of this vision, which, among other
the acceptance of the Euro-Atlantic things, should be realized through a
perspective by the Western Balkan process of accession which includes
countries was expected. The West- an array of reforms by fulfilling spe-
ern Balkan, through an integration cific prerequisites also known as Co-
in the EU, would enter in a market penhagen and Maastricht criteria.
of 500 million consumers of 7.5% of From an economic point of view, this
the world population, it would fit in means to provide a functional mar-
the economy with a contribution of ket economy, an economy that will
22.9% of the world GDP, followed by be competitive within the Europe-
USA with 22.3%, China with 11.5% and an market, and which will generate
Russia with 2.8% (according to Euro- growth that would imply approxima-
stat, 2012). In addition, the economic tion of the standard of living to the
power of the EU is also reflected in one in the EU countries.
the trade and in the foreign direct in-
vestments, namely it is first ranked According to the data from Euro-
with 16% of the total global trade, as stat from 2014, the GDP per capita in
May 2016
