Background
The South East Europe Investment Committee (SEEIC) was established in 2007 by the SEE countries, and formerly under the auspices of the OECD Investment Compact for South East Europe, to create a high-level decision-making and coordination body with a goal and mandate to initiate and support the reform and implementation of policies promoting foreign and domestic investments in the South East Europe Region.
In order to allow the SEE economies to directly manage regional dialogue and coordinate efforts related to the investment reforms, transfer of management of the SEEIC from OECD to the Regional Cooperation Council was endorsed at the Fifth Meeting of the SEEIC in November 2009. The official transfer of responsibility over the SEEIC activities took place at the Ministerial Conference: Building a 2020 Vision for South East Europe in November 2011, when SEEIC was empowered to engage in the SEE 2020 vision-building and placed into regional ownership.
SEEIC currently has three main objectives:
- Development of the South East Europe 2020 Strategy (jointly with the SEE countries), based on 5 growth pillars: 1) integrated, 2) smart, 3) sustainable and 4) inclusive growth underpinned by 5) governance for growth
- Increasing competitiveness and enhancing regional value chains
- Promoting the SEE region as an attractive investment destination
The SEE 2020 Vision, currently in development process jointly among the SEE Countries, calls for the consistent implementation of economic reforms to foster 1) integrated, 2) smart, 3) sustainable and 4) inclusive growth underpinned by 5) governance for growth, as well as by the rule of law. In addition, under the RCC umbrella, the SEEIC is focusing its efforts in intensifying regional cooperation in regards to investment & trade reforms, enhancing regional value chains and improving business and investment environment in the region.
In addition to creating a common regional vision for economic development in South East Europe, the other SEEIC objectives include reform-related, but also pragmatic efforts in increasing competitiveness of the region through joint targeted action and presenting the region as an attractive investment destination and an economic location (raising awareness of the region in economic and business terms, not only geographic and political terms). To reach these objectives the SEEIC is focusing on the following activities:
- Identifying priority policy areas for the achievement of SEE targets.
- Setting regional targets in line with SEE 2020 Vision
- Rolling-out of monitoring instruments
- Implementing policy peer reviews
- Implementing actions in support of Smart Growth
- Identifying and selecting priority sectors
- Supporting actions to remove or alleviate barriers for development of regional value chains (trade, innovation, etc.) through establishment of inter-governmental working groups on various subjects
- Agreeing on a set of tailored actions to support further development of regional value chains (removing non-trade barriers, etc.)
- Reviewing available investment promotion mechanisms and agreeing on a set of joint regional investment promotion instruments and activities
- Establishing a communication strategy and communication platform
The SEEIC, currently Co-Chaired by the Government of Bosnia and Herzegovina (Ministry of Foreign Trade and Economic Relations) and the Regional Cooperation Council Secretariat, comprises of high-level officials at the level of Deputy Minister or State Secretary from the respective ministries from South East Europe namely Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Kosovo*, Moldova, Montenegro, Romania, Serbia and The Former Yugoslav Republic of Macedonia. The Committee holds two meetings a year in Sarajevo. Also, it meets in Ministerial format once a year in the capitol of the SEEIC member co-chairing the SEEIC.
* This designation is without prejudice to positions on status, and is in line with UNSC 1244 and the ICJ Opinion on the Kosovo declaration of independence
