CONFERENCE ON BOSNIAN ECONOMIC DEVELOPMENT HELD IN SARAJEVO

SARAJEVO, Bosnia (October 17,2007) – Economic reforms need to be made a focus of the Bosnian Government. This was stated yesterday at the opening of a conference aimed to place a focus to the Bosnian economic issues.

The conference entitled “Through Reforms and Partnership to Bosnia’s Sustainable Economic Development” was organized by the Office of the International High Representative in Bosnia (OHR). Political officials, businesspersons, union representatives and others participated.

Bosnia's Prime Minister Nikola Spiric,the International Community's High Representative in Bosnia Miroslav Lajcak and Head of the EC Delegation to Bosnia Dimitris Kourkoulas opened the conference.

Spiric stated in his opening speech that the decision making process in the sector of economy is always a challenge, especially in a country such is Bosnia, because of the complex structure of authorities.

According to him, one of the key goals of the conference is institutionalization of dialogue between the key factors of the Bosnian economic life.

”Authorities are aware that the top down approach does not function well in the sector of economy. Because of that, it is impossible to implement the laws. That results in a business climate that is not beneficial for the investments to the country. It also negatively affects the employment”, Spiric emphasized.

He added that an energetic dialogue between the key political and businesspersons results in passing of legislature in the sector of economy.

”That is why I urge all the participants to initiate a dialogue without many phrases and with a lot of practical examples that are dialogue-focused”, Spiric said.

The International Community's High Representative in Bosnia Miroslav Lajcak stated in his speech that “the reforms, which would improve the situation in the economy sector, were the most serious victims of political dead end”. He added that it is a problem the Bosnian citizens should not feel.

He added that the European future of the country is most probably the most important economic issue. Keeping in mind Bosnia’s geographical position, this country has no other option than to look for partners in the EU.

”Economic reforms EU demands should be a part of Bosnia’s economic development”, Lajcak said. It is obvious that reaching an agreement on purely political issues is difficult to achieve. However, that does not mean that agreements cannot be reached in the field of practical laws aimed to advance the country’s living standards.

”Economic reforms should not be put on hold”, Lajcak emphasized.

”The European Commission supports the Bosnian authorities in the process of economic reforms’ implementation. Those reforms are aimed to increase the foreign investments, reduce poverty and open new jobs”, Dimitris Kourkoulas said.

He emphasized that a fast action is needed in the sector. Not for the purpose of making the official Brussels happy, but because of the fact that Bosnia needs to become a prosperous country.

”EU has an enormous potential of making the reforms efficient and less painful”, Kourkoulas said.

Economic potentials of Bosnia and the recommendations in the process of opening the new jobs were discussed at the separate panels.