During the past decade, the Government of the former Yugoslav Republic of Macedonia has undertaken ambitious reforms to modernize the country, complete the process of transformation into a market economy, and improve the living conditions of the population. These reforms have benefited from a more stable political and economic environment. Effectively, since the Ohrid Framework Agreement in 2001 between ethnic Macedonians and Albanians, democratization and stabilization efforts have gained momentum. Macroeconomic stability and the accession to the WTO (in 2004) have given an impetus to economic modernization and the development of an attractive business climate. In addition, of crucial importance is the country’s candidacy for EU membership. The process of accession to the EU, including the adjustment of national laws to the requirements of the acquis communautaire, has provided a basis and framework for the economic reforms and policy changes analysed in the Investment Policy Review.

Related Subject(s): United Nations
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