The South East Europe Corporate Governance Roundtable was established in September 2001, in response to growing awareness among policymakers and donors in the region regarding the importance of corporate governance. This Roundtable includes participants from nine countries in the region: Albania, Bosnia-Herzegovina, Bulgaria, Croatia, Former Yugoslav Republic of Macedonia, Moldova, Montenegro, Serbia, and Romania.
The South East Europe Corporate Governance Roundtable is a regional flagship initiative of the Investment Compact. The Investment Compact, adopted in February 2000, is a vital part of economic reform activities to be carried out under Working Table II of the Stability Pact for South East Europe, dealing with economic reconstruction, co-operation and development.
The Roundtable has seen some progress in corporate governance, since it issued its English on Corporate Governance in South East Europe in 2003, including a number of legislative and regulatory reforms undertaken in recent years. Corporate governance codes have been developed with the support of the business sector, and stock exchanges have introduced special listing segments requiring higher corporate governance standards. The Roundtable has contributed to this progress not only through policy dialogue and development of recommendations at its meetings, but also through the ongoing efforts of its participants – representatives of stock exchanges, regulators, corporate governance institutes and other reform-oriented stakeholders – to raise awareness and support reform initiatives in individual countries.
The White Paper proposes a set of practical recommendations and should serve as a means for setting priorities and implementing reform at national or corporate level. The White Paper recommendations, which were drafted by consensus, are a tool for promoting good corporate governance in the region, as well as for assessing progress by individual countries. They are designed to provide guidance for countries as they develop new rules and develop new initiatives to improve corporate governance.