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Higher education reform process introduced many innovations in educational systems and caused the passing many new regulations in this area. European knowledge society rests on two pillars - European Research Area - ERA and European Higher Education Area - EHEA. EHEA is being developed through international cooperation and academic exchange that is performed through government ministries, institutions of higher education, and students and teaching staff. It must be emphasized that economic and cultural globalization has imposed new challenges for the system of higher education. Internationalization of higher education is seen as one of the ways a country responds to the impact of globalization. Also, an important feature of the Bologna Process is the adoption of new approaches in higher education. One of them is concept Open Educational Resources. As can be seen in the paper, the Bologna Process represents a strategic transformation of higher education institutions, and the conclusion is that reform process in higher education leads to economic and social well-being of the country.

Importance of reforms and internationalization of higher education in accordance with the Bologna process