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Supporting the integration of Western Balkans and Ukraine into the European Union

Explore the significance of EU enlargement and its impact on regional stability and economic growth.

The Importance of the Western Balkans and Ukraine

The EU is promoting the integration of the Western Balkans and Ukraine into its fold, recognizing the strategic, economic, and political importance of these regions.

The Western Balkans countries including Albania, Bosnia and Herzegovina, Kosovo, Northern Macedonia, Montenegro, and Serbia are of significant cultural, social, economic, and geostrategic importance for the Union.  The countries were already for a long time eager to join the EU. The economic integration measures have already resulted in a very high % share of EU trade with the region. The foreign trade expansion with the EU results in at least 0.1% to 0.25% of additional real GDP growth annually and strongly supports the increase of GDP per capita in all six countries. Besides the highly important economic component, the Western Balkans countries have an enormous geostrategic importance component.

Ukraine has much to offer the European Union. Its strong industrial base is complemented by a well-educated and skilled population and a large domestic market. Most Ukrainians support joining the EU, and the Union recognizes the country’s clear commitment to democracy and human rights. Ukraine’s geostrategic importance makes its integration into the EU not only desirable but also essential for Europe’s stability and security.

As part of its commitment to strategic autonomy, the Union defends its political and economic interests globally and responds to external challenges through coordinated measures, including restrictive policies where necessary.

What is the Issue?

Western Balkan countries still face various difficulties and are engaged with political and internal issues.

The main hurdles are:

  • Management of political uncertainties,
  • corruption as well as shadow economic activities, which create an obstacle for investments in the region and attract attention for increasing concerns of geopolitical instability,
  • legal certainty / rule of law,
  • strengthening the economy, including the work on lowering unemployment and addressing demographic challenges such as the emigration of young, educated people,
  • Prevention of radicalization and support those vulnerable to radicalization

In addition, with regards to the Eastern EU neighbors, the implementation of foreign economic sanctions hasn’t always brought the envisaged political results, but can have negative effects on Europe’s economic interests. Also, the implementation of secondary sanctions constitutes substantial judicial overreach by non-EU-jurisdictions into the European legal system, confronting European businesses with exceptional and intricate legal issues.

Pathways to Integration

More effort should be focused on securing the maximum possible level of economic integration with the EU. The accession process offers the best possible framework for overcoming divergent views. Experience shows that the enlargement perspective is a crucial driver for economic reform, progress, stabilization, and transformation. The further process should be pursued with clear criteria for joining countries related to their individual performances and progress on reaching measurable achievements. EU member states should recognize the challenges that the Western Balkan countries and Ukraine are facing. In turn, these countries should commit sincerely and fully to the principles of the Union.

The European Union can play a more confident role globally in ascertaining its economic and political interests:

  • A prosperous Europe

    We need a peaceful, strong, and prosperous Europe, able to uphold its interests and values in a more and more complex and competitive world. To achieve this, relations with EU neighboring countries should be in line with the EU interests.

  • European foreign policy

    The European foreign policy needs to be more interest-driven, more reflective of its economic impact and also defend European economic interests.

  • EU sanctions

    EU sanctions should be targeted, mindful of consequences on jobs, as well as the economy in Europe and reviewed continuously.

Why Transparency Matters

The Government and Stakeholder Affairs team of the RBI Group offers in-depth expertise in the fields of banking, financial services, and economic policy. We provide sound and empirical data and facts on financial service activities in Central and Eastern Europe (CEE).

Our priority is a lively, transparent, and open information exchange with our stakeholders, whom we permanently involve in our knowledge transfer. In Vienna, in Brussels, in Europe.

  • Corporate advocacy

    In any given democracy, public debate is crucial in forming political opinions which then influence how governments define their positions in relevant policy areas. These positions finally translate into regulation that effects all of us.

    Corporate advocacy

    In any given democracy, public debate is crucial in forming political opinions which then influence how governments define their positions in relevant policy areas. These positions finally translate into regulation that effects all of us.

    Evidently, there are a significant number of stakeholders that participate in public debate, most notably political parties, trade unions, NGOs, grass root initiatives or scientists all together representing a wide range of ideas, beliefs, and causes.

    Whereas in the past, corporate businesses have been reluctant to contribute to and engage in public debate, a significant number of businesses have come to understand and appreciate their role in society more and more as a corporate citizen. As a result, they feel encouraged to be increasingly vocal about questions that are relevant to them as much as to society at large.

    We are happy to bring our ideas and beliefs to the table and discuss the impact of our business on society. Here we can show, how our banking contributes to wealth, prosperity, and sustainability in the countries we work in. Just as much, we are strongly interested in challenging ideas we feel may have adverse or negative effects on social, economic, and environmental issues that are of concern to us.

    Traditional lobbying is only one aspect of how we go about to by explaining our positions to interest groups, regulatory authorities, politicians or other stakeholders. Our overall approach is more of what we call corporate advocacy. And this is not only about what we expect others to do for us. Being open for dialogue is just as much about learning from people with others perceptions and beliefs.

  • Transparency register numbers and Code of Conduct

    Transparency register numbers of Raiffeisen Bank International:

    • Europe: EU Transparency register: 33858106461-10;
    • Austria: Lobbying- und Interessenvertretungsregister: LIVR-00104

    Transparency register numbers and Code of Conduct

    Transparency register numbers of Raiffeisen Bank International:

    • Europe: EU Transparency register: 33858106461-10;
    • Austria: Lobbying- und Interessenvertretungsregister: LIVR-00104
    • Germany: Lobbyregister des Deutschen Bundestag: R005510

    Code of Conduct

    The RBI Group Code of Conduct is the foundation of our corporate culture. This Code of Conduct is internally binding for the RBI Group, but does not create any rights or obligations of third parties vis-à-vis members of the RBI Group. Persons who provide services to or otherwise work for the RBI Group and all other business partners of the RBI Group are expected to agree to the RBI Group Supplier Code of Conduct as a mandatory part of the contract and to comply with all rules and standards contained therein.

    Open RBI Code of Conduct page

  • UN Global Compact

    We are one of the signatory companies of the UN Global Compact (UNGC). The UNGC is the world’s largest initiative that helps companies align their practices with a sustainable and inclusive future.

    UN Global Compact

    We are one of the signatory companies of the UN Global Compact (UNGC). The UNGC is the world’s largest initiative that helps companies align their practices with a sustainable and inclusive future.

    The UNGC initiative is based on CEOs’ commitments to adhere to universal sustainability principles and offers a principles-based framework and network.

    Over the course of more than two decades, the UN Global Compact has mobilized companies around the world to align their activities and strategies with ten principles and enabled change by reporting on their progress in adhering to these principles. The UN Global Compact has evolved from a group of 44 companies to what is now the world’s largest corporate sustainability initiative and a global movement of more than 18,000 companies and 3,000 non-corporate stakeholders in over 160 countries.

    The current Strategy 2024–2025 continues this path and reinforces the expectations of companies when integrating the ten principles into their operations.

    The United Nations Global Compact is uniquely positioned to support companies as they align their practices for a sustainable and inclusive future. With the broad-based support of all 193 participant countries of the United Nations General Assembly, the UN Global Compact remains the single, global normative authority and reference point for action and leadership within a growing global corporate sustainability movement.

    Our strategy intends to leverage that position and elevate expectations of how businesses will embed all Ten Principles of the UN Global Compact into their operations. These Ten Principles — covering human rights, labour rights, the environment and anti-corruption — are intrinsic for the sustainability of business, people and the planet. They offer companies of all sizes a blueprint for contributing towards achievement of the 2030 Agenda for Sustainable Development and the Paris Agreement.

    We are confident that, through this strategy extension to 2025, the UN Global Compact will help the business community make the progress it needs to make so that it – and the rest of the world – will achieve the goals needed to ensure a better life for all.

    Together, we are the UN Global Compact, uniting business for a better world.

     

    Our Contribution

    As a signatory company, RBI is not only committed to consistently adhering to the ten UNGC principles of responsible business – with the core areas of human rights, labor standards, environmental protection and the fight against corruption – but also expects the associated attitude of global responsibility from all employees and managers as well as from partners and suppliers.

    Read more about UN Global Compact

  • Economic footprint of RBI in CEE countries

    RBI – as part of the Austrian Raiffeisen Banking Group – is an important participant on the European banking market, particularly in Central and Eastern Europe (CEE). 

    Economic footprint of Raiffeisen Bank International in CEE countries

    RBI – as part of the Austrian Raiffeisen Banking Group – is an important participant on the European banking market, particularly in Central and Eastern Europe (CEE). In recent years, the banking sector has undergone numerous changes. In environmental conditions, such as regulatory measures to safeguard financial market stability in Austria but also in CEE, a longer-term low interest rate environment and adjustments due to the progressive digitalization (e. g. further development of internet banking services) and changes in the banking sector. For this reason, the objective is to determine the employment and economic contributions of RBI for all CEE countries (including Austria) in which it operates.

    Read more on our Annual Reports

Want to learn more about other initiatives?

  • Digitalization & Level Playing Field

    The digital revolution and its new technologies are changing the world fundamentally. Private and business lives are impacted dramatically. In this phase, Europe must make the best use of digitalization to maintain competitiveness and global future readiness in a world where all the interrelated digital solutions are in play. 

  • Savings and Investment Union (SIU)

    The Savings and Investment Union (SIU) initiative represents a key milestone in strengthening Europe’s financial architecture. Its core objective is to ensure that household and institutional savings are effectively channelled into productive investments, thereby enhancing innovation, growth, and the green and digital transitions.