B&H and EU Signed WTO Bilateral Agreement



At the headquarters of the European Commission in Brussels a bilateral WTO market access agreement was signed between Bosnia and Herzegovina and the European Union. Minister of Foreign Trade and Economic Relations Mirko Sarovic signed the agreement on behalf of BiH, and on behalf of the EU, the European Commissioner for Trade, Karel De Gucht.

"Bosnia and Herzegovina is committed to become an active member of the multilateral trading system and has invested serious efforts in this respect. The inestimable support provided by the EU is delivering positive results. Today’s event represents a step closer to our final common goal and we are confident that it will help in finishing the rest of the bilateral negotiations in the WTO in the months to come. If we find the same constructive attitude with other partners, we could become WTO members in 2013," Minister Sarovic said.

“Today's signature is an important milestone in the process of accession of Bosnia and Herzegovina to the WTO, and an important step towards fostering our economic relations,” said the European Commissioner for Trade, Mr. Karel De Gucht. “We believe that Bosnia and Herzegovina has made remarkable progress in preparing for WTO entry and hope to welcome them into the WTO family very soon”.

The bilateral deal provides for the lowering of tariffs for trade in goods and for the opening of services markets upon accession. These commitments will be then embodied in the future Protocol of Accession of Bosnia and Herzegovina to the WTO.  In addition, the signing of this agreement represents a key step on the road to conclude the entire process, which will be much easier with further full support from the EU and the expressed flexibility in terms of conditions for the conclusion of negotiations with other WTO members.