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INTERVIEW
OPENING NEW MARKETS IS A PRIORITY STAŠA KOŠARAC
Minister of Foreign Trade and Economic Relations of Bosnia and Herzegovina
Improving the economic and business environment, implementing development projects and intensifying reform processes, as well as establishing connections in the region, are the best way to attract foreign investments egional cooperation is key to overcoming unresolved issues and continuing the Western Balkans' accession into the European Union. This cooperation is also the driving force behind economic development and can certainly save the economies of our countries, especially after the COVID-19 pandemic. Serbia is one of the most important external trade partners of Bosnia and Herzegovina in terms of trade volume. In the last few years, the Republic of Srpska and Serbia have had very fruitful cooperation.
Focus
BOSNIA AND HERZEGOVINA 2021
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What position does Bosnia and Herzegovina occupy in terms of economy and relations with other Western Balkan countries? The coronavirus-induced crisis has demonstrated the importance of regional cooperation, socio-economic interdependence of regional economies, but also the need for further strengthening of ties, both in the Western Balkans and with the European Union. At the onset of the pandemic, during quarantine, the CEFTA member countries agreed to establish the so-called
green corridors, thanks to which vital products from the joint list passed the border crossings between our countries quicker. This is one of the important successes in the fight against the pandemic and the best example of regional cooperation. It is in our best interest to actively seek and create conditions for as many facets of cooperation as possible in order for our economies to recover. Further economic integration creates an opportunity for faster development of the domestic economy, not only in terms of trade but also in terms of cre-
ating prerequisites for the development of a more competitive economy and bridging the gap between our economies and the more developed economies of the EU and the world. Ultimately, the regional market is extremely important to us, because, after the EU, we export the most to the CEFTA countries. I would also like to say that, in the first six months, 16.3 percent of Bosnia and Herzegovina’s exports ended in the CEFTA countries. We exported goods worth more than a billion BAM to this market, which was a 29.6 percent growth relative to last year.
THE REPUBLIC OF SRPSKA AND SERBIA HAVE FRATERNAL RELATIONS AND SPECIAL TIES, NOT TO THE DETRIMENT OF THE OTHER TWO NATIONS IN BOSNIA AND HERZEGOVINA
Last year was challenging for all countries. This year has brought a recovery. What is the situation in Bosnia and Herzegovina in terms of economic recovery? Official data show that our country is recovering and continuing to grow economically. In the first six months of 2021, the total volume of external trade increased by 23.6%, or 3.14 billion BAM compared to the same period last year. In the observed period, exports amounted to 6.65 billion BAM
