The enlargement of the European Union towards the Western Balkans is experiencing unprecedented dynamism, supported by the launch of a tailored Euro 6 billion growth plan. This renewed momentum offers an important opportunity for the Western Balkans to accelerate economic convergence with the standards of living of their European peers, which has stalled. Drawing on the development trajectory of the Western Balkans and selected New Member States during 1991-2023, and simulations measuring the impact on gross domestic product (GDP) of specific policy reforms, this policy note puts forward a new economic agenda for the Western Balkans - to be implemented in synergy with the growth plan. The analysis shows that if these countries can reach the levels of New Member States with respect to the strength of institutions, level of investment, volume of trade, and quality of education, their growth rate can as much as double.