Croatia has made significant progress in 10 years of EU membership

In less than a month, Croatia will mark 10 years of full membership in the European Union, the country’s leading export market.

The advantages of joining a community of nations numbering 500 million people, the Schengen Area and the Eurozone were discussed on Tuesday at the Bloomberg Adria Conference, which brought together government and business representatives.

When it comes to the absorption of European funds, Croatia has a surplus of almost 11 billion euros, and investment momentum is also supported by foreign investors.

“We see that Croatia has progressed how investors perceive it, because its rating has increased. If we also compare interest rates, they are now among the lowest in the European Union,” said Christoph Schoefboeck, President of the Management Board of Erste Bank.

Ten years of membership in the EU, and especially joining the Eurozone and the Schengen Area, have brought numerous benefits to Croatian companies.

“Our business in Slovenia and Croatia, but also in Austria, where we have our own company and export to Germany, Italy, Sweden and other countries, has been made significantly easier, faster, and simpler. I think that great strides have been made, the standard of living for Croatian’s is significantly better, and the economic situation has improved greatly. The icing on the cake came this year with joining the Eurozone and Schengen,” said Zoran Stanković, a member of the Atlantic Group’s Management Board for finance, procurement and investments.

“The accession to the Eurozone has led to lower borrowing costs for all sectors, and thus their empowerment. That is why today we have some interest rates on certain types of loans that are lower than countries like Italy or Germany,” said Marko Badurina, president of the HPB Management Board.

Croatia has made great progress as a member of the European Union, but there are still many challenges to overcome before it can achieve the standard of living enjoyed in the rest of the Eurozone, where the average salary is more than 2,300 euros.