Meeting between Angelovska-Bezhoska and Osmani: the National Bank is committed to the EU integration processes
17:30, Monday, May 20, 2019

The Governor of the National Bank, Anita AngelovskaBezhoska met the Deputy Prime Minister in charge of European Affairs, BujarOsmani. The meeting followed this years Economic and Financial Dialogue between the European Union (EU) and the Western Balkans and Turkey, where conclusions were drawnwith positive assessments of our monetary policy setup, and in general, the National Banksendeavorsto fulfill the EU guidelines given last year for the Economic Reform Program.

"The Republic of North Macedonia is about to make a historic step forward to start the EU membership negotiations as one of the largest administrative and social operations for transformation of all social lifesegments and aspects under the European rules, standards and values", saidOsmani, pointing to the need for inclusiveness and cooperation among all stakeholders within these processes.

At the meeting, it was emphasized that the National Bank makes great contribution to the implementation of the national reform programs crucial for the country's EU integration and that the regulation and practices in the central banking operations in our country are highly aligned with the European ones.

"Firmly determined to make our best as a central bank to bring our economy closer to the European family, we are committed and continuously working on further harmonization of the regulation within our competence with the EU regulations. I would particularly highlight the changes to the banking system regulations aimed at further strengthening the financial soundness, as well as the changes to the payment services and payment systems. We remain committed to the harmonization of the central bank statistics with the European requirements", - also said AngelovskaBezhoska at the meeting aimed to exchange opinions and information on the further stages in the EU integration processes in which the National Bank will be actively involved.

"The National Bank as an independent institution responsible for the monetary policy is one of the key institutions which is expected to contribute to the creation of the negotiating structure and to prepare the government for the challenges of the negotiations, especially the economic chapters", said Osmani, expressing satisfaction of the cooperation between the two institutions, especially regarding the explanatory screening, within which several chapters of the economy have already been opened. In the EU accession process, the central bank has actively participated with its representatives in the national negotiating structure for the five chapters of the European legislation. At today's meeting, it was emphasized that in the context of the expected acceleration of the EU integration processes, the National Bank will continue to strengthen its capacities, thus making its best on the road to the EU.

The governor and the deputy prime minister also tackled issues on the EU-funded projects related to the country's preparedness activities for the EU membership. The National Bank, inter alia, has already participated in the two-year Regional Program aimed at strengthening the capacities of central banks of the six Western Balkan countries. Theyalso emphasized the importance for the Twinning project "Strengthening the institutional capacity of the National Bank in the process of its accession to the ESCB to start in September. This project, for which the central bank applied with the support of the Secretariat for European Affairs and for which the EU has allocated Euro 600,000 is planned to focus on payment systems, banking supervision, central bank statistics and research.

At the end of the meeting, AngelovskaBezhoska and Osmani expressed satisfaction of the success of the Republic of North Macedonia to enter the second phase of the implementation of the Stabilization and Association Agreement with the EU, which creates exceptional potential for the economic connection of the country with the EU member states, as an important ground for creating conditions and potentials for easier entry of foreign direct investments coming from the EU, and in general, for the promotion of the economic trade with the EU.

In the period ahead, the cooperation between the National Bank and the Secretariat for European Affairs will strengthen, in order to better respond to the countrys challenges within the EU integration processes.

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