The future of the region is in the EU as mutual cooperation is an inevitable part of that process. Using the economic potential of the region with joined forces and attracting possible investors is the path to economic growth in the region. The countries through regional cooperation in a practical fashion are manifesting unity which is leading the region towards the EU and European standards and practices of cooperation.

This was stated Monday by Prime Minister Nikola Gruevski at a London conference organized by the European Bank for Reconstruction and Development (EBRD), where he is taking part together with his counterparts from Serbia, Montenegro, BiH, Croatia, Albania and Kosovo.

He noted that the region was a favourable investment destination adding recently it had made a breakthrough in terms of stability, security and implementation of fundamental economic reforms. Gruevski said that EBRD 'all this time' was one of the biggest supporters of the region investing over 10.5 billion euros.

"In the past few years, the Government of Macedonia has implemented profound political, economic and social reforms. Those related to the economy have been aimed at finding solutions to key challenges - maintaining macroeconomic stability, opening new jobs, reducing the unemployment rate, maintaining an adequate level of fiscal and budget deficit, improving the business environment and investment climate, increasing the level of export and tourism promotion," stated PM Gruevski.

Mentioning that regional cooperation in the field of infrastructure and transport paved the way toward stimulation of economic and social development of the countries in the region, he said that construction works for the highways linking Kicevo and Ohrid and Skopje and Stip had been launched with an affordable loan from a Chinese bank, seen as vital segments of Corridor 8, and announced that construction activities would kick off in March to overhaul the railway along this corridor towards the border with Bulgaria with funding provided by EBRD.

In connection to Corridor 10, Premier Gruevski said that the final 28 km-section was being constructed, which was co-financed by the EC with plans to be completed by 2016.

"Talking about the future, energy and innovation have our support. These projects are a top priority... Energy efficiency is something that is constantly on our list of priorities. Our vision for this sector is to use energy efficiently beyond the borders," noted Gruevski.

He added that Macedonia, in relation to energy after signing an agreement with Russia to join the South Stream international project, would provide long-term energy stability. "Complementary to this is the project for the construction of a gas infrastructure in Macedonia."

PM Gruevski stated that EU membership was Macedonia's strategic goal. "In this respect we are working on all necessary preparations to wrap up the process," he emphasized.

EBRD President Sir Suma Chakrabart in his opening remarks said that the institution was backing the economic progress of the region. "EBRD is a bank that invests in the region because it is convinced in its potential."

Last year, EBRD invested 1.2 billion euros in more than 80 projects in Western Balkans. Throughout the years, EBRD in the region invested nearly 10.5 billion euros.

EBRD is active in Macedonia since 1993 and is one of the biggest investors in the country. Until June 2013, it has approved 82 projects estimated at 2.175 million euros in the sphere of infrastructure, energy, finances, industry, trade and agrobusiness.

Later in the day, PM Gruevski will meet with members of the House of Lords in the UK Parliament.