Skopje, 3 June 2022 (MIA) – Economy Minister Kreshnik Bekteshi is participating in a working meeting on Trade and Investments as part of the North Macedonia – United States Strategic Dialogue, taking place in Washington on Friday. “North Macedonia has a strategic geographical position. It is crucial for foreign investors that the country is a major transport route across Europe. We give great support to foreign investors who decide to implement investment projects in the country, аnd such support to foreign investors directly encourages the overall economy,” Bekteshi said. As part of the working meeting, the Minister presented the opportunities and benefits the country offers in the development of strategic investments. He sought support for North Macedonia in terms of development of foreign investment screening mechanisms, aimed at boosting the competence of authorities in national security protection, while preserving the long-standing policy of openness to foreign investments. Both parties reaffirmed joint commitment to expanding and deepening bilateral economic and trade cooperation, exchanging ideas on increasing trade and investment in different sectors, the Ministry of Economy said in a press release. “The legal framework in North Macedonia is generally favorable for foreign investors and FDIs are constantly growing. However, given that North Macedonia joined NATO and continues its path to EU, it needs to provide legal mechanisms to control FDIs from the point of view of national security, in order to protect national interests, by transposing 2019 EU Regulation,” Bekteshi said. The Minister told participants in the meeting that the Government is working on the development of a comprehensive and transparent register of state support for investors in order to create a more effective state support reporting system. “We are working on activities for greater coordination of various programs that various institutions provide as state support for investors in order to boost transparency,” Bekteshi said. Bilateral trade cooperation since April 4, 2003, i.e. since North Macedonia became a full-fledged World Trade Organization (WTO) member, is conducted in accordance with the rules, principles and legal regulations of WTO. The United States ranks 13 in North Macedonia’s total global trade exchange in 2020 and 2021. In the first three months of 2022, the United States ranks 16. Bilateral trade in the same period stands at USD 76 million, with export at USD 39.5 million and import at USD 36.6 million. In addition, the working meeting discussed regional initiatives in which North Macedonia participates. Minister Bekteshi briefed participants in the meeting on the latest developments in terms of the Open Balkan initiative, the Energy Community, Corridor 8 and building a common trade policy within the Common Regional Market, including free movement of goods, services, capital and workers.