Excellencies, Dear friends, Ladies and gentlemen,

It gives me great pleasure to be here with you today. This conference poses two very important, timely and inter-linked questions: about the economic role of international partners in the Western Balkans, and the potential for the EU Growth Plan to accelerate integration. I am these days more qualified to speak to the first than specifically to the second (and look to my esteemed EU colleague to touch more on that); though how Bosnia and Herzegovina chooses to make best use of the Growth Plan, including in cooperation with its neighbours, is of critical relevance to us all.

I hope I will be forgiven an observation. The two questions we will be reflecting on today appear to centre the debate on the economic activity and interests of international partners.  That is perhaps understandable in a region like the Western Balkans that is made up of relatively small economies in need of significant investment and infrastructure development. But, in truth, I think the answers will flow from the sovereign choices that the political leaders of the region make. Those choices are what will determine the future prosperity and security of the region’s citizens.

And it is true that many of these are regional choices, as much as bilateral ones: increased collaboration, whether through e.g. the Berlin Process, the Regional Cooperation Council, EU processes or ad hoc arrangements, will be key to each country’s economic and political future. And also to the wider geopolitical and geoeconomic situation: the Western Balkans are an important region of Europe, with much to offer.

It is also true that there are various influences in the Western Balkans, and it is clear that not everyone thinks as we do. Not all your potential partners see BiH’s (or the wider region’s) future as a core member of the Euro-Atlantic community. Again, I would frame the questions as a sovereign ones for Bosnia and Herzegovina, the other Western Balkan states, and their leaders. And those questions might go something like this:

Do you choose to make deals with autocratic governments, behind the backs of the people whose taxes will ultimately pick up the bill; or not?

Do you choose to invest sustainably in the green and inclusive development of your industry and your natural resources?

Or do you choose to carve up the state’s assets for yourselves and your autocratic international partners at the expense of the economy?

These economic choices shape your values and policies too: Do you work with international partners who believe in good governance, the rule of law, and environmental and labour standards?  Or do you choose the route that holds your country back?

We have over time seen plenty of examples in the Western Balkans – as elsewhere – where those choices have entrenched corruption, stripped industry of its potential, and made life worse for citizens. And, of course, those choices come with geopolitical consequences: the global connective tissue of your economy shapes your foreign policy and the values you espouse. So, the first priority should be to focus on the choices your leaders are making. Are they transparent? Are they upholding standards and promoting growth? Are they helping the Western Balkans integrate their economies with the rest of Europe?

This brings us to your second session, and the potential impact of the EU Growth Plan on Euro-Atlantic integration. It is not for the UK to comment on the detail of this. But I am certain that if leaders make the right choices, this plan will help countries to integrate their economic life with Europe and to strengthen their accession path.

Finally, having focused on the role of the region’s leaders in answering the questions we will be examining today, let me also touch on the role of the international community. I agree: we need to match the ambition of the region. For example, we can help to overhaul energy production and restore the Western Balkans as a clean, green energy exporter to the rest of Europe. That needs real commitment to implementing climate and environmental goals. It calls for a shared compact where western investment in green energy is paired to the region joining the European emissions trading scheme, in turn helping Western Balkans business remain competitive and connected to the rest of the continent.

The United Kingdom is doing its part. We are offering more than £15bn of UK Export Finance to the region, including up to £3bn in B&H alone, to help deliver major projects, and we are helping to find innovative solutions to urgent energy needs. Our companies are playing an important role in the development of industry in the region.

Rest assured, the United Kingdom – working together with you and our closest international partners – stands firmly by a sovereign and indivisible Bosnia and Herzegovina, regionally connected with the other countries of the Western Balkans, and moving rapidly towards membership of both the EU and NATO.

In conclusion, ladies and gentlemen, there are major choices ahead for the region: with the right ambition and the right international partnerships the Western Balkans has an opportunity to prosper, develop, and integrate into the Euro-Atlantic family.

I hope we will hear today how it can do just that.