The Minister of Foreign Trade and Economic Relations of Bosnia and Herzegovina, Staša Košarac, and the Minister of Economy of North Macedonia, Krešnik Bekteši, signed the Agreement on Economic Cooperation and the Agreement on Cooperation in Tourism between BiH and North Macedonia today in Skopje.
The interlocutors concluded that the signed documents will be a good basis for improving foreign trade exchange, strengthening economic ties, encouraging investments and facilitating cooperation in the field of tourism between Bosnia and Herzegovina and North Macedonia.
Ministers Košarac and Bekteši pointed out that BiH and North Macedonia are friendly countries with no open issues, and that there is room for additional development of economic relations. The common assessment is that the encouraging data is that the total trade of BiH and North Macedonia in 2022 was higher by 57.15 million BAM compared to 2021, and that it is necessary to continue such a trend.
At the meeting, the need to strengthen regional cooperation was pointed out, with the focus being on the “Open Balkans” initiative. It was emphasized that this regional initiative increased the volume of trade between Serbia, North Macedonia and Albania by almost 30 percent.
Minister Košarac informed Minister Bekteši that the Republika Srpska advocates the membership of BiH in the “Open Balkans” and that he hopes that the new political structures in the Federation of BiH will support this regional initiative.
He informed his Macedonian colleague about his intention to organize a conference on “Open Balkans” in Sarajevo in the next month, and invited him to be one of the participants in this gathering, which Minister Bekteši accepted.
“We intend to gather in Sarajevo the relevant ministers from Serbia, North Macedonia and Albania, as well as representatives of the chamber system and the business community in the Republic of Srpska and the Federation of BiH, in order to openly discuss the perspectives and advantages of the ‘Open Balkans’,” the minister announced.
Today’s meeting also discussed cooperation in the energy sector. Minister Košarac informed Minister Bekteši that energy is within the primary constitutional jurisdiction of the Republika Srpska and the Federation of Bosnia and Herzegovina, and that the Ministry of Foreign Trade and Economic Relations of Bosnia and Herzegovina has an exclusively coordinating role.
He pointed out that the Republika Srpska has harmonized its legislation with the standards of the Energy Community, and expressed the hope that the Federation of Bosnia and Herzegovina will do its part as soon as possible. The Ministry of Foreign Trade and Economic Relations of BiH, in coordination with the competent entity ministries, will coordinate the activities of the presentation before the Secretariat of the Energy Community.
“The efforts of the institutions of the Republika Srpska when it comes to the development of the energy sector, especially renewable sources and gas infrastructure, have been recognized, and I particularly emphasize the importance of the implementation of the New Eastern Interconnection project, which will contribute to long-term energy stability both in the Republika Srpska and in the Federation of Bosnia and Herzegovina,” said Minister Košarac.
He pointed out that, if the Macedonian side is interested in investing in the energy sector or cooperating in energy projects, that issue should be resolved in communication with the competent institutions of the Republika Srpska and the Federation of Bosnia and Herzegovina.
“All processes are conducted in the Republika Srpska and the Federation of Bosnia and Herzegovina, because that is their constitutional jurisdiction. Bosnia and Herzegovina has no property, Republika Srpska and the Federation of Bosnia and Herzegovina are property owners. Entities have energy sovereignty, they grant concessions, not the BiH level,” said Minister Košarac.
Therefore, he added, if the Macedonian side expresses interest in investments and gas infrastructure projects, the only address for negotiations are the institutions of the Republika Srpska and the institutions of the Federation of Bosnia and Herzegovina.
