How to protect BH Economy from the possible Consequences of the “Trade War”

June 20, 2018 8:00 AM

“Disturbances on the world market might influence the economy of BiH, which is the reason why we have to timely react,” as noted by the Minister of Foreign Trade and Economic Relations of BiH, Mirko Sarovic, during the meeting with the management of the Foreign Trade Chamber of BiH, the Chamber of Commerce of the FBiH and delegation of the company Arcelor Mittal Zenica.

The main reason for organizing this meeting was discussion of the possible consequences of the Safeguard investigation, which was launched by the EU on February 26,  against major world steel producers in the EU, including ArcelorMittal, the largest steel exporter from BiH, which participates in the total GDP of BiH with 2.5 % and has around 3,000 employees.

“Large disturbances are expected in the upcoming days due to the introduction of customs duties by the US in the steel market, both in the EU and regional countries. We need to follow all of these developments with the aim to predict any possible measures that could have a negative effect to domestic companies,” noted Minister Sarovic.

In order to protect our businessmen, further consultations with the countries members of CEFTA and the Trade Directorate of the EU will take place in the future period.

(Source: Sarajevo Times)

 

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