Ex-Yugoslav Leaders Gather at Croatia Economic Summit

The leaders of Albania, Bosnia, Croatia, Kosovo, Macedonia Montenegro, Serbia and Slovenia are attending the two-day Summit 100 in Cavtat from Monday along with many of the most prominent CEOs, entrepreneurs and economists from south-eastern Europe.

Over 100 business leaders will participate in roundtable discussions, aimed at boosting regional cooperation, and their ideas, proposals and conclusions will be presented to the political leaders.

“The markets of the countries in the region are rather small but their potential, particularly through cooperation with the neighbouring countries, is considerable," Summit100 said in a statement.

One of those attending, Janko Medja, the president of the biggest Slovenian bank, New Ljubljana Bank, said ex-Yugoslav countries had a lot in common.

“The differences between the countries are minor; they have the same problems relating to infrastructure, rule of law and institutions' efficiency, and in some countries there is political instability as well,” said Medja.

AT Kearney's senior director for south-eastern Europe, Ivo Simek, warned meanwhile that “corruption is rather high, the legal framework very unreliable and old-fashioned, and the public administration generally very poor".

Simek said that further EU integration would help business in the region.

“In order to create a more favourable entrepreneurial climate in the region, the process of integration should be sped up, and that means the process of democratisation as well,” he said.

Ljerka Puljic, the senior executive vice-president of Croatia’s biggest company Agrokor, said that the region had strong potential in food production.

“The region has a possibility to produce...