The head of the EU Delegation in Bosnia and Herzegovina and the EU’s special representative in Bosnia and Herzegovina, Ambassador Luigi Soreca, stated today that Bosnia and Herzegovina has taken another practical step towards joining the Single Payment Area in Euros – SEPA.
“SEPA enables simpler, faster and more favorable payments in euros throughout Europe. For citizens, these are more efficient and simpler foreign payments, which brings concrete benefits to numerous families in Bosnia and Herzegovina, considering that the largest part of the diaspora from this country lives in SEPA countries. For business entities, these are more efficient transactions, lower costs and new opportunities to connect with the European market,” said Soreca.
He added that through the Growth Plan for the Western Balkans, the European Union brings some of the concrete benefits of European integration to citizens and businesses even before formal membership, and participation in the Single Payment Area in euros is one of those concrete benefits.
Soreca pointed out that the submission of Bosnia and Herzegovina’s request starts a process that requires further technical assessment and alignment with the relevant requirements.
“SEPA is another practical reform that brings Bosnia and Herzegovina closer to European standards and the single EU market. Every step we take to modernize our systems opens up new opportunities for citizens, businesses and the economy,” said Soreca, according to the EU Delegation to Bosnia and Herzegovina.
