The International Institute for Middle East and Balkan Studies (IFIMES)[1] based in Ljubljana, Slovenia, regularly conducts analyses of events spanning the Middle East, the Balkans, and global affairs. Bogoljub J. Karić, a prominent businessman, philanthropist and visioner, shares his views and impressions following the recently held 45th International Business Conference in Sarajevo titled "Common Regional Market." We present his article, "Regional cooperation and the future in the EU ('Faster, higher, stronger')," in full.
Recently, I participated in the 45th International Business Conference in Sarajevo, titled "Common Regional Market." The event brought together regional managers and public figures who can contribute to the economic renewal and prosperity of the region. I received an incredible welcome and had the great honour of being the keynote speaker. I heard many insightful perspectives and opinions, grounded in extensive experience and talent, which could benefit everyone. My aspiration is for this event to evolve into the "Davos of Southeast and Central Europe”.
The challenges of economic development are crucial for our future, while a strong family is the guarantee of our survival. Halting the wave of mass emigration permanently and creating conditions for the return of those who left in search of better opportunities can only be achieved through economic renewal and the establishment of a favourable, attractive business, and social environment.
My paper, "The Path to Success: Regional Cooperation - Where to and How to Proceed," has sparked significant interest among participants, particularly the initiative to establish a Fund for the Preservation and Development of Family Businesses. This fund aims to ensure the survival of family enterprises and facilitate the continuity and transfer of businesses across generations. In our region, many aspects, including the family, have been neglected. Instead of a confrontational mentality, we must foster a culture of cooperation, understanding, and unity.
This initiative will be forwarded to the regional governments as well as EU institutions to address this matter systemically at the EU level. Additionally, I have endorsed the establishment of a European Development Fund, aimed at financing and developing companies and businesses, according to my formula, with an exclusive focus on the creation of joint ventures in the region. When people are connected through shared business interests, many other issues and processes advance more smoothly. This approach would bring people closer together, fostering lasting peace and long-term stability in the region. The fund would have an open character, attracting both European and American investors, thereby providing an additional boost for the robust revitalization of the entire region.
There has been significant interest in engaging all regional countries to participate in the special international exhibition EXPO 2027, to be held in Belgrade, which I have dubbed the "Economic Olympic Games." I emphasized the crucial role of Serbia's President, Aleksandar Vučić, in successfully securing Serbia's hosting of this prestigious global event amidst fierce international competition. Despite Serbia being the host of EXPO 2027, it belongs to everyone. Serbia's investment of 17 billion euros in organizing EXPO 2027 marks a transformative moment not just for Serbia but also for the entire region's economic growth. This aligns with President Vučić's goal of achieving a GDP of 100 billion euros by 2027. I have proposed convening a regional meeting to discuss organization and participation in EXPO 2027, confident that President Vučić will gladly accept a meeting with counterparts from Southeast Europe on this matter, as it promises to usher in economic prosperity valued at billions of euros.
EU enlargement is crucial for the future of Southeast Europe. I believe its prosperity lies in EU membership and the common European market, as "EU accession will bring an end to all turbulence and challenges in the region." The prospect of membership is the most effective mechanism for ensuring lasting stability. If in 2004 European leaders found the strength and courage to collectively admit 10 countries into EU membership, then 20 years later we see no barriers for the remaining countries of Southeast Europe, totalling 16 million inhabitants, to join EU membership together soon. This would serve as an additional encouragement for the subsequent membership of Ukraine, Moldova, and Georgia in the EU.
The conference conclusions have been adopted[2] and forwarded to the heads of state and government of the region, EU institutions, and the US administration. Following the conference, I attended the awards ceremony honouring the best managers and public figures. It was a pleasure to see former Croatian President Stjepan Mesić, Slovenian Deputy Prime Minister and Minister of Foreign Affairs Tanja Fajon, ministers, presidents of chambers of commerce, ambassadors, and many others who are all working together towards our shared future.
I was particularly impressed by the young Mayor of Sarajevo, Benjamina Karić, with whom I enjoyed an evening stroll through the beautiful Baščaršija and Sarajevo. What else can one say except that our future lies in collaboration? As we approach the start of the Olympic Games in Paris, I will use the official motto of the Games[3], which should also be our guiding principle: 'Faster, Higher, Stronger'.
About author:
Bogoljub J. Karić was born in 1954 in Peć/Peja. He graduated from the Faculty of Natural Sciences and Mathematics at the University of Priština, majoring in geography. He earned his master's degree in "Organization and Development of Small Business" from the Faculty of Economics in Niš. In 1971, alongside his three brothers and sister, he established the family-owned factory "Braća Karić" in Peć. Over nearly half a century, he developed a large-scale company with operations spanning various sectors globally, including telecommunications, construction, finance, education, media, trade, etc.
The views expressed in this article are the author’s own and do not necessarily reflect IFIMES official position.
Ljubljana/Beograd/Sarajevo, 12 July 2024
[1] IFIMES - International Institute for Middle East and Balkan Studies, based in Ljubljana, Slovenia, has a special consultative status with the United Nations Economic and Social Council ECOSOC/UN in New York since 2018, and it is the publisher of the international scientific journal "European Perspectives."
[2] It has been proposed that Bogoljub Karić take the helm of the European Development Fund and the Regional Development-Economic Council, aimed at assisting governments in fostering prosperity for the citizens of our region. During the ceremony, he was honoured with a 'Lifetime Achievement Award’.
[3] »Citius, Altius, Fortius«
