On September 4, 2020, Serbia and Kosovo signed an economic normalization agreement, aimed at improving economic cooperation between the two countries. This agreement marks a historic moment in the long-standing conflict between the two former Yugoslavian territories and is seen as a significant step towards normalizing their relations.
Under the terms of the agreement, Serbia has agreed to recognize Kosovo`s independence, which it had previously refused to do so. In exchange, Kosovo has agreed to lift its 100% import tariffs on Serbian goods, which has been in place since 2018.
Both countries have also agreed to work together to attract foreign investment and promote economic growth. This includes cooperation in the areas of energy, infrastructure, and technology. The agreement also includes the establishment of a joint economic zone, which will allow for the free movement of goods, services, capital, and people between the two countries.
This agreement is seen as a significant achievement for the Trump administration, which has been heavily involved in negotiations between the two countries. President Donald Trump has been pushing for a deal between Serbia and Kosovo as part of his foreign policy strategy in the Balkans. He has also been instrumental in brokering a deal between Serbia and Israel to normalize their relations.
The economic normalization agreement has been welcomed by the international community, with the European Union describing it as a „significant step“ towards the normalization of relations between the two countries. The EU has been involved in negotiations between Serbia and Kosovo for several years and has been pushing for a resolution to the conflict.
The agreement has also been praised by the business community, with many companies hoping to take advantage of the opportunities presented by the joint economic zone. The agreement is expected to boost trade and investment between the two countries, which have been hampered by years of conflict and mistrust.
Overall, the economic normalization agreement between Serbia and Kosovo is a positive step towards the resolution of their long-standing conflict. It demonstrates that cooperation and dialogue can lead to positive outcomes, even in situations where there has been a history of animosity and mistrust. The success of this agreement will depend on both countries` commitment to its implementation and their willingness to continue working together towards a brighter economic future.