The eleventh meeting of the Accession Conference with Serbia at Ministerial level was held today in Brussels to open negotiations on Chapter 4 - Free movement of capital.
The European Union delegation was led by Ms Tytti TUPPURAINEN, Minister for European Affairs, on behalf of the Finnish Presidency of the Council of the European Union. The European Commission was represented by Mr Olivér VÁRHELYI, Commissioner for Neighbourhood and Enlargement. The Serbian delegation was led by Ms Jadranka JOKSIMOVIĆ, Minister of European integration.
With today's Conference, 18 negotiation chapters have now been opened for negotiations out of a total of 35, of which 2 chapters have already been provisionally closed. Further Accession Conferences will be planned, as appropriate, in order to take the process forward in 2020. The accession negotiations were launched in January 2014.
Regarding the opening of negotiations on Chapter 4 - Free movement of capital, the Union has closely examined Serbia's present state of preparations. On the understanding that Serbia has to continue to make progress in the alignment with and implementation of the acquis covered by this chapter, the EU noted that there are benchmarks that need to be met for its provisional closure.
In addition, the EU underlined that it would devote particular attention to monitoring all specific issues mentioned in its common position. Monitoring of progress in the alignment with and implementation of the acquis will continue throughout the negotiations. The Conference will have to return to this chapter at an appropriate moment.
As regards the benchmarks, the opened chapter may only be provisionally closed once it is agreed by the EU that the following benchmarks have been met:
-With respect to capital movements and payments, Serbia completes its legislative alignment with the acquis and demonstrates it will be able to fully implement it by accession, ensuring that all remaining restrictions are removed;
-On payment systems, Serbia demonstrates it will be able to fully implement Directive (EU) 2015/2366 by accession, including the relevant "level two" acts mentioned in section 2, and that it will be able to effectively apply Regulation (EC) No 924/2009 and Regulation (EU) No 260/2012;
-In the area of anti-money laundering and counter-financing of terrorism, Serbia completes the necessary legislative alignment with the acquis, international standards (as defined by the Financial Action Task Force) and demonstrates, through a track record, an improved administrative capacity to properly implement and enforce the relevant legislation in all areas of anti-money laundering, including recommendations made by the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism of the Council of Europe, MONEYVAL, resulting in an increasing effectiveness of monitoring, supervision, financial intelligence, investigation, prosecution and conviction.