The investment framework

In the course of its transition to a market economy, the former Yugoslav Republic of Macedonia has opened itself to foreign investment and embarked on an ambitious programme of reforms. The changes have been largely determined by the country’s aspiration to become a member of the EU and thus the need to progress with the development of a domestic legal framework that takes into account the acquis communautaire (thereafter the acquis) and will make it possible to accommodate it without jeopardizing basic legal stability The acquis is the total body of EU regulations accumulated so far, and its full adoption is an important requirement for candidate countries. The acquis is not static and keeps evolving; therefore applicant countries, such as the former Yugoslav Republic of Macedonia, also need the capacity to deal with future additions to their existing body of laws.

Related Subject(s): United Nations