The Delegation of the European Commission to Bosnia and Herzegovina welcomes the ratification of the Central European Free Trade Agreement (CEFTA) by Bosnia and Herzegovina. This represents a major step ahead in further economic and trade integration of Bosnia and Herzegovina within the region on the path to European integration.

CEFTA represents a key building block for regional economic development, benefits of which will be shared among all participating countries. This agreement will deepen the existing trade relations and will bolster economic interdependencies in the region. Moreover, it will facilitate Bosnia and Herzegovina’s competitiveness and foreign investment prospects, allowing Bosnia and Herzegovina to compete more effectively for the much-needed foreign capital. Ultimately, it will boost job creation, economic development, and the improvement in the general standard of living. The experiences of the old CEFTA members – today the new members of the European Union – testify to these ends.

Regional integration within the CEFTA is a process complementary to the European integration. It is thus a proven instrument for the new CEFTA members to advance their relations in the context of the European integration process. Completion of the CEFTA ratification by Bosnia and Herzegovina speaks about the inclination of Bosnia and Herzegovina to enhance both of these processes.