Thursday, June 19, 2008

BOSNIA TO ESTABLISH FREE TRADE ZONE BY 2013

SARAJEVO, Bosnia (June 19,2008) - Osman Topčagić, Director of the Bosnian Directorate for European Integrations, promoting the Stabilisation and Association Agreement (SAA) in the Bosnian capital Sarajevo, signed by Bosnian and EU officials on June 16 in Luxembourg.

Topčagić explained that free trade zone will be established through implementation of two models of custom and tax cancellation.

“The first model refers to cancelation of customs, enforced from July 1 this year. It will be applied for Bosnian industrial products imported into the EU and vice versa”, said Topčagić adding how the second model implies gradual cancellation of customs and taxes.

“According to this model, the production of 4,000 industrial products in Bosnia will be protected, on which custom fees will be gradually reduced during next five years, when they will be cancelled.
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