PRAGUE — Kosovo's declaration of independence has put stability in the Western Balkans back on Europe's agenda. Unless the European Union acts quickly, the whole region could slide backward, with dire social, economic and security consequences. The EU needs a comprehensive regional approach, focusing on the remaining steps that would lead each country toward membership.

The Western Balkans — a term used only since 1999 — comprises Albania, Bosnia and Herzegovina, Croatia, Macedonia (former Yugoslavia Republic of Macedonia), Montenegro, Serbia and Kosovo, with a combined population of roughly 22 million. Economic developments in the region are promising, with almost all its economies posting high growth, fueled by increasing industrial output and exports. Inward investment is steadily rising, as business seems to believe that the remaining political and security challenges — the possible negative effects of post-independence Kosovo and Bosnia's malaise — will be overcome sooner rather than later.

Much work has already been done to re-establish and improve regional relations. The EU-led Stability Pact for South Eastern Europe has since 1999 successfully stimulated regional cross-border cooperation, for the first time since the breakdown of Yugoslavia. Energy, transport infrastructure — roads, railways and waterways — and crime prevention have all benefited. The Stability Pact has now been transferred to local control, re-emerging as the Sarajevo-based Regional Cooperation Council, ready to develop regional and multilateral standards for its members.