BiH needs to urgently React to EU Measures and protect Domestic Production

July 15, 2018 11:00 AM

Minister of Foreign Trade and Economic Affairs of BiH, Mirko Sarovic, held urgent consultations with relevant ministries and institutions regarding the announced decision of the EU on introduction of protective measures for the market of steel and aluminium as a response to the European block on the moves of the United States.

It was announced by the ministry that possible impacts of this measure on the market of BiH and subjects that are dealing with the production of steel and steel products were considered on consultations, and according to certain estimates, around 10,000 workplaces in this sector would be in danger if the introduction of quotas by the EU takes place.

Minister Sarovic requested urgent respond and a detailed analysis of these measures as well as suggestions of possible reactions and adequate measures of BiH in the shortest possible period of time, with the aim to maximize domestic production.

“Considering the fact that the announced measures are problematic from the point of the Stabilization and Association Agreement, with which both the EU and BiH committed to respect the rules of the free market, the European Commission and the relevant Trade Directorate of the EU will be notified about attitudes of BiH,” said Minister Sarovic.

Minister Sarovic will conduct further consultations with relevant institutions of regional countries that will also be affected by the announced measures of the EU, with the aim of finding the best solution for our economy.

(Source: biznisinfo.ba)

 

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