Minister of Foreign Trade and Economic Relations of Bosnia and Herzegovina Stasa Kosarac received today in Sarajevo the Ambassador of the United States of America to BiH Eric Nelson with whom he discussed current economic and political topics.
At the meeting, they discussed the conclusion of a Memorandum of Understanding on economic cooperation between BiH and the United States. Minister Ksarac informed Ambassador Nelson that the Ministry, in accordance with the conclusion of the Presidency of BiH from January 2021, submitted a draft of that document to the American side, but that no answer has been received to date.
It was stated that the stalemate was due to the change in the US administration and that it is necessary to intensify the activities on signing that document in the upcoming period.
Minister Kosarac emphasized that the total foreign trade of BiH with the USA in the first five months of 2021 amounted to 227.60 million BAM and that it was higher by 31.40 million BAM compared to the same period last year.
He also noted that BiH has recorded an increase in exports to the United States, with goods worth 54.19 million BAM exported to the US market in the first five months of this year, which is 154.28 percent more than in the same period in 2020. There was also a decline in imports from the US by 0.84 percent, compared to the same period last year.
The topic of today’s meeting was also the projects in the field of tourism. It was pointed out that the United States, through the United States Agency for International Development (USAID) in the five-year cycle, will invest about 20 million dollars in that sector and that significant funds will be directed to support recovery from the negative consequences of the Covid-19 pandemic.
It was pointed out that the issue related to the so-called trade rights in the area of multilateral negotiations on the foreign trade regime of BiH has remained open, and it needs to be harmonized with the US.
In this regard, Minister Kosarac emphasized that the position of BiH on the issue of the declarants is fully harmonized with the European Union and expects a compromise solution with the American side.
They also exchanged views on the general system of preferential treatment in the US, with Minister Kosarac asking for the re-inclusion of BiH on the list of countries to which the US has granted unilateral customs privileges.
