Economic reports from national statistics offices or economic research institutes

EU Grants Full Schengen Membership to Bulgaria and Romania from January 1, 2025

Dec 12, 2024, 11:13 AM

The European Union has approved the full accession of Bulgaria and Romania into the Schengen Area, effective from January 1, 2025, ending a 13-year wait for the two Eastern European nations. This decision allows for the removal of border controls at their land borders, following Austria's decision to lift its veto over concerns about migration and border security. Previously, both countries had been partially integrated into the Schengen zone since March, with air and sea border checks already lifted. The move is expected to significantly reduce waiting times at borders, lower logistical costs for businesses, and enhance the attractiveness of both countries to foreign investors. The accession is seen as a historic step that will benefit not only Bulgaria and Romania but also the entire European Union by strengthening its internal market and increasing travel, trade, and tourism.