SECI and stability pact business advisory counsils merge in Skopje

Macedonian Information Agency (Dec 12, 2002, 3:16:10 AM (GMT+01:00)) (MIA)  SKOPJE, Macedonia - The South East Europe Initiative (SECI) and Stability Pact Business Advisory Councils merged Wednesday in Skopje.

The BAC SEE core objective would be to translate business world experiences in transition economies and difficulties of investors in SEE's newly developing investment destinations into political action, it was said at a press conference.

" Both initiatives support the merging of the two councils, which will contribute to economic development of the region, " Stability Pact Coordinator Erhard Busek said.

The Council have four members and the first president will be Rahmi Kochi from Turkey.

The BAC SEE will have three primary functions: - to advise the Stability Pact, EU-Commission, IFI's and governments of the donor countries on business matters in SEE and request their intervention when necessary; to advise governments and business communities in the recipient countries, and to ensure an effective follow-up of recommendations; to attract investment to SEE and to increase trade with and among SEE countries through regional business missions, Business Support Offices, the Business Information and Clearing Center, PRO Committees, investment conferences in donor countries, country teams, and instruments and networks.

Nikos Efthymiadis, member of the BAC SEE, said that Macedonia made significant progress in reforms referring to attraction of foreign investments.

However, the Macedonian government was asked to redefine the Law on Investments, as according to Efthymiadis, it is 'old-fashioned'. He also recommends simplifying of the ownership rights, introduction of 'one-window' system and realization of the idea for free trade zone.

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