Sattler in Banja Luka: I appeal to the local leaders to find the courage and political will to reach a compromise

(Patria) - Head of the EU Delegation and EU Special Representative in Bosnia and Herzegovina (BiH), Ambassador Johann Sattler opened the business conference titled "Challenges and Future of Business #3" in the Banja Luka Rectorate.

Organized by the Employers' Union of Republika Srpska (RS), the conference is part of the process of drafting the RS Economic Reform Program for the period 2022-2024 and is part of the EU-funded project "Contribution of Civil Society Organizations to Improving the Impact of Entrepreneurship on Socio-Economic Development of BiH – EISE Project".

In his address to representatives of employers' associations, public officials, academia, institutions, and professional organizations, Ambassador Sattler highlighted the opportunities offered by the Western Balkans Growth Plan worth 6 billion euros, including stronger economic integration with the European Union and deepening regional integration.

At the same time, he emphasized the importance of reforms.

"Only through the rapid and rational adoption and implementation of key reforms will BiH be able to compete in the European market, with a population of nearly 450 million and a GDP of nearly 16 trillion euros in 2022," emphasized Ambassador Sattler.

Speaking about specific reforms, the ambassador noted: "Reforms should include transformative issues such as electronic signatures or energy legislation that will enable BiH companies to remain competitive in the European market."

The EU and its member states are BiH's largest trading partners, the largest source of investment, and the largest provider of aid. Almost three-quarters of BiH's exports go to the single European market, and the EU has provided almost two billion euros in grants for pre-accession assistance over the past decade. By breaking down trade barriers with the EU and the region and stimulating reforms, it is estimated that the Growth Plan, combined with EU assistance, could double the size of the region's economy over the next decade.

"Numerous successful companies in Bosnia and Herzegovina have found opportunities in the European market in traditional industries such as furniture, automotive, and business process outsourcing such as ICT. The recent development of 'nearshoring' could make Bosnia and Herzegovina a major supplier of goods and services for the EU market," said the EU Ambassador.

Ambassador Sattler also emphasized that the EU will continue to support BiH in the reform process, and urged the country to seize that opportunity.

"The Growth Plan is an opportunity for Bosnia and Herzegovina that must not be missed. And we will help BiH in developing policies and reforms and their implementation."

"I appeal to the local leaders to find the courage and political will to reach a compromise, which is the key in any democracy," said Sattler.

He stated that the EU remains concerned about the National Assembly of Republika Srpska adopting the Draft Law on a Special Register and Publicizing the Work of Non-Profit Organizations, adding that despite everything, it is important to maintain freedom of expression, media, and assembly.

He appealed for this law not to be adopted in RS and for it to be withdrawn from the procedure.

The third conference "Challenges and Future of Business No. 3", organized by the Employers' Union of RS, gathered several hundred participants to discuss key economic and social challenges and determine steps to contribute to societal development.