Serbia and Bosnia Agree Trade Protocol

Serbia and Bosnia-Herzegovina signed a Protocol on economic cooperation in Belgrade on Tuesday.

Transport, agriculture, food, the chemical and pharmaceutical industry, energy, cross-border cooperation and environmental protection are priority fields for the promotion of economic ties between the two countries, the signatories, Serbian Deputy Prime Minister Rasim Ljajic and Bosnian Foreign Trade and Economic Relations Minister Mirko Sarovic, said.

The two officials said there was a good deal of potential for improving cooperation in many fields. Serbia and Bosnia are among each other’s top five trading partners. Their total trade exchange in 2012 was worth 1.2 billion euro.

Ljajic said several important new agreements would be signed by June, including a memorandum on the joint participation of Serbia and Bosnia in third markets.

Sarovic invited Ljajic to visit Bosnia in mid-2013, when a business forum bringing together the two countries’ businessmen will be organized.

He also announced the signing of a protocol on mutual recognition of documents in the field of water and dietary products, which will facilitate trade in these products.

Ljajic and Sarovic opened the first session of the Joint Commission for Economic Cooperation of Serbia and Bosnia on Monday. It was within that session that they signed the protocol on economic cooperation.