Ambassador Cormack spoke yesterday at a judicial workshop focused on commercial law at the Federation Center for Judicial and Prosecutorial Training in Sarajevo. Following her March 12 speech at the American Chamber of Commerce, the Ambassador again stressed the importance of prioritizing commercial cases in Bosnia and Herzegovina, including bankruptcy and company restructuring procedures, in order to protect Bosnian companies and attract additional investors.
Speaking on how each country’s legal system plays a key role in its economic development, Ambassador Cormack noted that “adopting and using transparent, international standards and norms makes the environment much more predictable for foreign investors and gives them confidence to take bigger business risks. Those investments directly lead to higher employment rates and improved living standards.” The Ambassador went on to stress that it is important that BiH continues to improve its handling of commercial cases in all areas of the country. BiH needs to ensure a fair playing field and a single economic space in order to encourage domestic and foreign businesses to expand their operations throughout all of BiH and further into the region.
This week, the U.S. Commercial Law Development Program held training workshops in Banja Luka and Sarajevo. The judicial workshops were led by visiting judges from the United States and leading judges and law professors in Bosnia and Herzegovina.
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