BOSNIA SIGNS MEMORADNUM OF UNDERSTANDING ON ESTABLISHMENT OF SINGLE REGIONAL ENERGY MARKET

VIENNA, Austria (October 21,2007) – A conference on social issues in the context of the Energy Community was held under the auspices of the European Commission and the Energy Community in Vienna,Austria.

The European Commission and seven states from the region signed a Memorandum of Understanding as an expression of political intent of signatory states to dedicate full attention to the prediction, recognition and response to social consequence that could arise in the context of the establishment of a single energy market in the region.

This primarily concerns the status of workers in the energy sector and the issues of large and sensitive groups of consumers.

The Bosnian Deputy Civil Affairs Minister Senad Sepic signed the Memorandum for Bosnia. Bosnia ratified last year the Agreement on the Establishment of the Energy Community.

Sepic underlined the need for European support in resolving the social consequences of the energy market in Bosnia. European Commission’s Deputy General Director for Trade Fabrizio Barbaso supported his position.