The study is organized in the threesections following the introduction, by which Section Ireviews the economic performance of the five Balkancountries - Albania, Bosnia and Herzegovina, Croatia,Macedonia, and Serbia and Montenegro - with a focus oninternational trade. A discussion follows in Section II onthe current status regarding participation in the WorldTrade Organization (WTO), relations with the European Union(EU), and relations with each other, and other countries inCentral and Eastern Europe, all of which affect theconditions for market access for their exports. Then followsan institutional and policy analysis regarding trade ingoods and services, including the main challenges thesecountries face in global integration. The study stipulatesthe political economy of reducing trade controls isdifficult, especially if it is to be done on an autonomousbasis; however, the accession (EU) process gives governmentsa vehicle they can use to push forward reforms that wouldotherwise be difficult to implement. Moreover, WTO members,need to take the opportunity of the new Round ofmultilateral trade negotiations (agreed in Doha), to reduceexisting trade barriers further, both in merchandise trade,and in services. But it is important to strengtheninstitutions for regional cooperation, supported within theframework of the Stability Pact, which provides a usefulforum for cooperation on trade policy.
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