Wednesday, January 23, 2008


SARAJEVO, Bosnia (January 23,2008) – “Signing of the Stabilisation and Association Agreement (SAA) with the EU and approach to the WTO and the present CEFTA membership are the three basic conditions that will enable Bosnia to become compatible at the world market. The present trade deficit will be decreased solely through promotion of business sector”, Ambassador of the EC Delegation to Bosnia Dimitris Kourkoulas stated at a conference “Bosnian Foreign Trade Policy – Development Initiation” held in the Bosnian capital Sarajevo.

The conference was organized by the EU project for Development of Trade Policy and capacity (EUTPP) in cooperation with Ministry of Foreign Trade and Economic Relations.

Kourkoulas stated yesterday that the document presented, entitled “Report on Needs Estimate in Trade-Related Sectors”, which analyzes the situation in Bosnia's foreign trade sector, was developed for the purpose of helping the Bosnian Foreign Trade Ministry to develop a necessary development strategy.

On the basis of recommendations from the Report, the EUTPP will support the Bosnian state institutions, especially the Bosnian Foreign Trade Ministry, in the process of creating and implementing foreign trade policy and harmonization of legislature in accordance with the WTO rules and acquis communautaire. The project is 1,45 million Euros worth and will last for one month.

Accoding to yesterday’s estimates, it is necessary to implement certain reforms in the sector of foreign trade policy for the purpose of enabling the Bosnian entrepreneurs to fully make use of the agreements that are yet to be signed with the WTO and with other institutions, as well as for the purpose of increasing the export activities to the CEFTA member countries’ markets and the EU.

Slobodan Puhalac, the Bosnian Minister of Foreign Trade and Economic Policy, emphasize that it is too early to expect CEFTA membership effects, but added that some Bosnian companies have been using the agreement benefits rather well.

”The situation is difficult and we need to move on. If EU opens up for us, I hope all our disagreements will be forgotten and we will be able to move ahead”, Puhalac stated.

Representatives of the Bosnian state institutions in charge of creating and implementing the Bosnian foreign trade policy, as well as representatives of international organizations and other organizations’ representatives participated at the conference.


Anonymous said...

Are there any predictions on the impact to Bosnian currency of these plans?

Anonymous said...

How might this impact Bosnian currency?