BUSINESS

BiH to become a Member of the World Trade Organization at the End of this Year?

Minister of Foreign Trade and Economic Relations in the Council of Ministers of Bosnia and Herzegovina Stasa Kosarac said that he hoped that BiH would become a member of the World Trade Organization (WTO) at the ministerial conference in Kazakhstan at the end of the year, which would mean easier access to the market and cheaper products on the BiH market.

Kosarac reminded that the process has been going on since 1999 and pointed out that it was inexplicable that not much had been done in that field. “It should be said that it is the obligation of BiH to make a decision on the quality of oil and oil derivatives. The decision was made in 2002, and its last change was in 2010. So, for 11 years, no one has done anything on the decision on the quality of oil and oil liquid derivatives, “Kosarac told reporters.

He believes that it is a very important issue to open in the structures of BiH, respecting the constitutional competencies of the Republika Srpska and the Federation of BiH.

“I had no dilemmas and I appreciate that BiH’s membership in the WTO is very important, and I opened that issue by forming a Working Group, respecting all the positions of the competent entity bodies and other institutions at the level of BiH,” Kosarac emphasized.

He stated that he recently had a meeting with the Minister of Energy, Mining and Industry of the Federation of BiH, Nermin Dzindic, at which the final version of the decision on the quality of oil and oil liquid derivatives was discussed, and yesterday with the Prime Minister of Republika Srpska Radovan Viskovis and Minister of Energy and Mining Petro Dokic.

Kosarac said that he expects that technical consultation will be held in the next two days on the part of the decision on the quality of oil and oil liquid derivatives.

“I believe that during the next week, and we are planning a joint meeting at the level of entity ministers, we will harmonize all these issues and that there is a necessary need to propose this issue to the Council of Ministers for adoption,” Kosarac announced.

He pointed out that this would mean that the most modern, in technical terms, the latest standards that are applied, will be applied in BiH as well.

“Compared to all other countries that also plead to be members of the WTO, we have done the most with this job. I believe that the Council of Ministers, and I want to be optimistic primarily for the protection of the environment and human health, and consumer protection, will adopt this decision, “said Kosarac.

He stated that, when that decision is adopted by the Council of Ministers, the Working Group for BiH at the WTO will open bilateral contact with the Russian side, which is very present, and had certain objections, and will resolve those matters.

Kosarac added that, given that BiH has very good bilateral relations with Russia, he had discussed this issue with the Russian ambassador several times and that he believed that this issue would not be treated negatively. “I believe that we will get WTO membership at a ministerial conference in Kazakhstan at the end of the year,” Kosarac concluded, Capital.ba writes.

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