Western Balkans

Being an old EU member-state (1981), a NATO ally (1952) and a participant in other European and regional institutions and fora, Greece is working for the sustainable stability, security and development of Western Balkans, based on the principles of good neighbourly relations and respect of International Law. Therefore, Greece firmly and actively supports the European perspective of the Western Balkans as a strategic goal.

In this context, the EU-Western Balkans Thessaloniki Summit during the Hellenic Presidency of the Council of the EU in 2003 resulted in the adoption of the Thessaloniki Agenda, that recognizes the European perspective of the region and defines ways for its enhancement.

Greece’s regional policy for the Western Balkans is directed towards the development of the region through enlarged bilateral cooperation and makes full use of existing regional formats and EU mechanisms. Greece participates in the South East European Cooperation Process (SEECP), the Regional Cooperation Council (RCC) and the Berlin Process, an initiative inaugurated in the summer of 2014 aiming at strengthening the European perspective of the Western Balkans. Furthermore, Greece promotes various forms of multilateral cooperation in the region, such as the Quadrilateral Greece-Bulgaria-Romania-Serbia, the Quadrilateral Greece-Albania-North Macedonia-Bulgaria, the Quadrilateral Greece-Bulgaria-Romania-Croatia, the Trilateral Greece-Bulgaria-Serbia and the Trilateral Greece-Bulgaria-Romania.

These formats promote cooperation between participants in a number of sectors, not only in foreign policy, security and civil protection, but also in transport, communications, interconnectivity of networks and infrastructure (road, railway, telecommunications, energy) and the implementation of a waterway network in the Balkans. Greece attaches particular importance to the gradual formation of a common regional market in the Western Balkans, to joint actions in the areas of energy (oil and gas pipelines, interconnectivity of electric energy grids) and investment, as well as to the formation of a technology platform for undertaking joint initiatives.

Under the moto "Strengthening SEE Synergies", Athens held the Chairmanship-in-Office of the South East European Cooperation Process (SEECP) from July 2021 until June 2022. During the period 01.07.2023--30.6.2024, the Chairmanship of the SEECP will be assumed by Skopje.

Economic relations

All countries in the Western Balkans are in the pre-accession phase of EU membership, while Kosovo*

(*This designation is without prejudice to positions on status, and is in line with UNSCR 1244/1999 and the International Court of Justice opinion on the Kosovo declaration of independence), is in a status of “potential candidate.”

In this context, they also receive funding through Pre-Accession Assistance Instruments.

More generally, the countries in the region participate in various regional integration initiatives, such as:

-regional ones (Central European Free Trade Agreement/CEFTA, with the participation of Albania, Bosnia and Herzegovina, North Macedonia, Moldova, Montenegro, Serbia, and Kosovo*—with funding from the EU—

-through European schemes such as: the Single Market Initiative, EU-Western Balkans Green Lanes, Single Euro Payments Area (SEPA), Digital Initiatives (European Digital Innovation Hubs/EDIH, Digital Identity Wallet, reduction of data roaming costs), etc.

-European (Stabilization and Association Process/SAP – constitutes the European policy framework for relations between the EU and the countries of the Western Balkans, with the aim of stabilization and transition to a market economy, regional cooperation, and preparation for eventual EU accession – and Stabilization and Association Agreements/SAAs, New Growth Plan for the Western Balkans/Common Regional Market, Western Balkans Investment Framework/WBIF, and Reform and Growth Facility for the Western Balkans, WB6 Berlin Process/Common Regional Market Action Plan 2025–2028/Regional Cooperation Council/RCC, Transport Community/TCT).

Specifically, regarding the EU Reform and Growth Facility, it is described as the European Union’s new financial instrument, designed to support reforms and economic convergence in candidate countries. It will operate during the 2024–2027 period and provides for up to €6 billion in funding for the Western Balkans, of which €2 billion will be in grants and €4 billion in loans, while an additional €29 billion is expected to be mobilized through the Economic and Investment Plan (EIP).

The last two summits where leaders from the EU and the Western Balkans met,took place in Brussels on December 17, 2025 (adopted the “Brussels Declaration”) and in Montenegro in June 2026. The main objectives of the summits were: accelerating the countries’ accession to the EU, economic and energy interconnection, countering Russian and Chinese influence, cooperation on migration and security, and the implementation of rule-of-law reforms.

Trade Relations and Investment

The EU is the Western Balkans’ main trading partner (approximately 72% of these countries’ exports go to the EU, while 58% of their imports come from the EU).  EU companies are the largest investors in the region (accounting for over 65% of the total), with the amount of Foreign Direct Investment from the EU exceeding 10 billion euros.

Regarding Greece’s trade relations with the six countries in the region, as well as Greek foreign direct investment in them, the countries of the Western Balkans are important trading partners and investment destinations for Greece.

More specifically, regarding the total volume of trade between Greece and the six Western Balkan countries for 2025, it is reported that exceeds 4 billion euros, while the FDI stock of Greek investments for 2024 exceeds 1 billion euros.

Our country’s three main trading partners are: North Macedonia, with a trade balance of 1.6 billion euros, Albania with a trade balance of 1.2 billion euros, and Serbia with a trade balance of 830 million euros, while the two main investment destinations for Greek companies are: North Macedonia, with an investment stock of 580 million euros, and Serbia, with an investment stock of 330 million euros.