Strategic Trade Diversification: Engagement of the Visegrad Group with the Western Balkans

The Visegrad Group countries (Czech Republic, Poland, Hungary, and Slovakia) and the Western Balkan countries share strong historical trade and cultural ties, and their trade relations are becoming increasingly significant in the context of geopolitical changes and economic transformations in the region. Recent trends indicate growing mutual trade, and analysis of the Trade Complementarity Index reveals high trade compatibility, confirming the potential for effective cooperation. The Trade Intensity Index also shows high values, particularly for Hungary. This paper evaluates trade exchanges and examines the intensity and compatibility of economic relations, with a focus on the Visegrad Group countries’ trade with Serbia, their key trade partner. The results suggest that enhanced cooperation between the regions could bring substantial economic benefits and strengthen regional stability and competitiveness.