North Macedonia and Moldova have made progress on the path of European integration by joining the Single Euro Payments Area (SEPA), which offers cheaper and faster transactions in euros. Serbia, despite expectations and announcements by officials, has not yet become a member of the zone.
Moldova and North Macedonia have now joined Montenegro and Albania, which in November 2024 became the first of the group of countries negotiating EU membership to become members of the Single Area.
The Directorate-General for Enlargement and Eastern Neighbourhood announced that the entry into the Single Area for Moldova and North Macedonia has been given the green light by the European Payments Council (EPC).
"It is a practical example of the impact of the Growth Plan for Moldova and the Growth Plan for the Western Balkans, EU initiatives to accelerate the socio-economic integration of Moldova and the Western Balkans into the EU, including through a progressive approach to certain areas of the Union's single market based on alignment with the acquis," the Directorate said.
Following the decision of the Council, an independent international non-profit association founded by the European banking industry in 2002, payment service providers from North Macedonia and Moldova will have the option to follow the different Single Area schemes managed by the Council.
It is stated that this step paves the way for Moldova and North Macedonia to accelerate financial transfers in euros and reduce the costs and time for processing transactions between citizens, businesses and other members of the Single Area, thereby contributing to sustainable economic growth.
"The European Commission will continue to support the preparation of payment service providers in North Macedonia and Moldova and the further alignment of these countries with the EU acquis in the field of financial services," the Directorate said in a statement.
European Commissioner for Enlargement Marta Kos welcomed the decision to join the Single Area of North Macedonia and Moldova, calling it a major step on their path to European integration.
Kos wrote in a post on Iks that by joining the Single Payments Area in the common European currency, the two countries will have faster and cheaper transfers in euros across Europe and will thus strengthen economic ties with the EU.
The European Commissioner emphasized that this is a concrete benefit for citizens and businesses and shows the real impact of the Growth Plan.
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