INTERIM AGREEMENT BETWEEN BOSNIA AND EU TO BECOME EFFECTIVE ON JULY 1

SARAJEVO, Bosnia (May 29,2008) - The interim agreement between Bosnia and the European Union (EU) will become effective on July 1, containing parts of the Stabilization and Association Agreement (SAA).

What this means, Head of the Bosnian Direction for European Integrations Osman Topcagic explains, is that a new tariff policy on trade exchange with the EU countries will come into force, as well. In other words, some tariffs will be cut or entirely cancelled for certain goods coming from the EU.

The Bosnian economy will benefit from import tariffs being cancelled on primary materials and manufacturing components, equipment and machinery used in production, he stresses, but at the same time domestic producers will face more competition.
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