To translate business world experiences in transition economies and difficulties of investors in SEE’s newly developing investment destinations into political action is the core objective of the Business Advisory Council.  The Stability Pact and SECI, both headed by Special Co-ordinator Erhard Busek, so far had one such Council each, which were created to ensure a permanent exchange between the international and regional business communities, between international and regional politics and vis-à-vis the major International Financial Institutions.  In Skopje today, the two bodies were merged into the new Business Advisory Council for South Eastern Europe BAC-SEE.

The BAC-SEE elected a new four member board (Chair: Rahmi Koç [Turkey], Vice Chair: Pierre Daures [France], Member: Nikos Efthymiadis [Greece], Member: Manfred Nussbaumer [Germany] - see list below) and defined its agenda for 2003.  The synergies created by the combined body were already put at work on the occasion of a roundtable of BAC members (of both BACs) with ministers and officials of the Macedonian Government, as well as with representatives of the Macedonian business community.

The BAC SEE will have three primary functions:

­          To advise the Stability Pact, EU-Commission, IFI’s and governments of the donor countries on business matters in SEE and request their intervention when necessary.

­          To advise governments and business communities in the recipient countries, and to ensure an effective follow-up of recommendations.

­          To attract investment to SEE and to increase trade with and among SEE-countries (concentrating especially on SME’s), through: regional business missions, Business Support Offices, the Business Information and Clearing Centre, PRO Committees, investment conferences in donor countries, country teams, and other instruments and networks.

Special Co-ordinator Busek thanked the BAC members for their efforts as investors.  He equally commended their role as economics policy shapers, which is just as much needed in SEE, and he added: “Political stability has turned for the better in SEE, the challenge is increasingly economical.  As economic hardship is a major source of social unrest and other negative effects like crime, an intensive economic restructuring and an influx of investments are key for job creation, economic growth and prosperity.  The BAC SEE will be vital in proposing and promoting better economic policy and practice in SEE.” 

Full list of the Business Advisory Council members