Regional cooperation and trade liberalization is considered the most important factor for sustainable economic growth, which should contribute to the mutual trade among SEE countries, the growth of foreign direct investments, further production specialization, and changes in export-import relation structures. Countries of the region have accepted liberalization as one of the conditions of the Stabilization and Association Process, hoping that each of them, individually, would improve its proper position. Creating a free trade area will contribute to a further increase in intra-regional trade flows, but it should not be expected that the relative importance of mutual exchange will prevail over the importance that the EU has for WB countries. European integration of Western Balkans countries has two main dimensions: (i) their bilateral relations with the European Union (EU) and (ii) their regional integration. European integration is almost universally recognized as the key strategy for achieving the twin goals of peace and prosperity in the Western Balkans. European policy-makers trust that greater European involvement in the Western Balkans can have positive and long-lasting effects on the management of ethno-political conflict. The European Commission has identified the prospect of EU membership as ""the ultimate conflict prevention strategy"" and has committed itself to maintain and increase its proactive presence in the region. The academic near-consensus is that the greater involvement of the Western Balkans in European institutions is the necessary condition for stabilization.