Connecting the economies of BiH and Great Britain

SARAJEVO, (Patria) - Minister of Foreign Trade and Economic Relations Mirko Šarović spoke today with British Trade Commissioner for Europe Andrew Mitchell and the British Ambassador to BiH Matthew Field about greater connection of the economies of the two countries and numerous potentials for investment by British companies in Bosnia and Herzegovina.

Emphasizing that Bosnia and Herzegovina has achieved a record coverage of imports by exports to the EU of 71 percent, Minister Šarović highlighted the importance of Great Britain's support in achieving the necessary European standards. 

“We are now exporting to the EU without hindrance, which just a few years ago we could not even imagine. We now meet the highest standards for all food of plant and animal origin, and given that our action plan for red meat has been accepted, I expect that by the end of this year we will also start exporting this remaining type of food, which would round off the fulfillment of the set goals,” stated Minister Šarović.

European standards have also been met in the field of energy, where the share of renewable energy sources in final consumption is currently higher than the European average, it was said at the meeting. A common stance was emphasized that it is necessary for the entity authorities to "unblock" the adoption of the Law on Electric Energy and Gas as soon as possible in order to establish an organized market in BiH. Commissioner Mitchell expressed great interest in the investment of British companies in this and other fields, highlighting previous examples of good practice of investment by British companies in BiH.
The interlocutors agreed that it is fundamentally important for the continuity of cooperation between the two countries to continue even in the event of Great Britain creating an independent market policy, following its potential exit from EU membership, and Bosnia and Herzegovina's readiness to continue and intensify cooperation even in possible new circumstances was emphasized.