Ambassador Dimitris Kourkoulas, Head of the European Commission Delegation to BiH, and Mr. Slobodan Puhalac, Minister of Foreign Trade and Economic Relations of BiH, opened on 22nd January 2008 the Conference «BiH Foreign Trade Policy – Engine for Growth».

In his opening address Ambassador Kourkoulas pointed out that the discussion on foreign trade policy is a timely and appropriate follow-up to the recent coming into force of the Central European Free Trade Agreement as well as to the initialing and the expected signing of the Stabilisation and Association Agreement. «Trade is an engine for growth, but it does not automatically lead to higher growth and poverty reduction. It relies on supplementary economic reforms and restructuring that are part of a broader development strategy» underlined Ambassador Kourkoulas and repeated that the three pillars of BiH foreign trade policy were: Implementation of the CEFTA, implementation of the SAA, and the accession to the WTO.

Referring to the prepared Assessment Report, he stressed the fact that its recommendations would serve as a basis for the preparation of targeted trade-related assistance by the EU and other donors. Ambassador Kourkoulas concluded his address by saying that «it is imperative that the BiH authorities take the full ownership of this report and of the reform process so that Bosnia and Herzegovina may move even faster on the road to the EU and so it may integrate smoothly into the world economy.»

Mr. Slobodan Puhalac, Minister of Foreign Trade and Economic Relations of Bosnia and Herzegovina, expressed expectations that, based on this Assessment Report, the overall BiH Foreign Trade Policy will be developed, with contribution from all relevant institutions. «Only by investing in quality and by introducing European standards, domestic products will be recognisable and will find their place at the demanding European market,» concluded Mr. Puhalac.

During the conference, the document «Trade Needs Assessment Report,» prepared by the European Union Project «Support Trade Policy Development and Capacity Building in Bosnia and Herzegovina (EU TPP),» was presented. The document provides an analysis of the current status of BiH Foreign Trade Policy and makes recommendations for eliminating constraints to effective participation of BiH in the international trading system.

The Conference was attended by the representatives of the BiH Institutions responsible for drafting and implementing BiH Foreign Trade Policy, representatives of the private sector, international organisations, academia, and the media.

About TPP

EU funded project – Developing Trade Policy and Related Capacity in Bosnia and Herzegovina (EU TPP).   

The value of EU TPP Project over a 20-month period is 1,457,653 EUR.

The project’s overall objective is to provide assistance to BiH with its integration into the world economy in general and the EU economy in particular, through the expansion of trade, and particularly an increase in exports.

Specific objectives of the Project are to support BiH in developing its institutional capacity, in particular MoFTER, in formulating and implementing a comprehensive trade policy in line with the country’s economic interests that strengthens the regulatory framework for trade.

An additional specific objective is also to support BiH, in particular MoFTER, in preparing for and carrying out bilateral and multilateral negotiations, as part of the WTO, CEFTA and SAA accession and implementation processes, and in addressing ad hoc priority negotiation issues that may arise.