SARAJEVO – Council of Ministers of Bosnia and Herzegovina held its 73rd session at wich, among other things, it addopted an analysis on BiH’s foreign exchange for the first half of year 2016 and took three food regulations harmonised with European Union acquis.
The Council of Ministers took individual regulations, upon a proposal of the BiH Agency for Food Safety, on amendments and supplements of three regulations, which address the safety and improvement of food quality, further to harmonising them with the EU acquis.
Specifically these are amendments and supplements to the Regulation on Food Microbiologic Criteria, amendments and supplements to the Regulation on Olive Oil Market Standards, and on amendments and supplements to the Regulation on Maximum Allowed Contaminants in Food, having mark “E”, as a confirmation of compliance with the relevant EU regulations.
This way, BiH will have the relevant regulations harmonised with the acquis, which would allow domestic producers to enjoy an equal market treatment.
The purpose of these regulation is to protect consumers and enable them to make a choice as to food they consume, in addition to producer protection in terms of the removal of trade barriers.
Export in first half year indresed for KM 127 million
As mentioned, Council also adopted an analysis prepared by the Ministry of Foreign Trade and Economic Relations on BiH’s foreign exchange for the first half of year 2016, which indicates further growth of export and fall of trade deficit, in relation to the same period of time last year.
In the first six months of this year, the total exchange of good of BiH was KM 12.22 billion, which is for KM 184.9 million more than in the same period last year. The imported goods were valued at KM 7.71 billion, which is for 0.75 more than last year, while the total export was KM 4.51 billion, as grown for KM 127.27 million or 29 per cent. The trade deficit in the reported period was KM 3.20 billion, and is less for KM 69 million, in relation the last year.
According to the analysis, the European Union is still the major foreign trade partner of BiH, and in total volume of goods exchange it participates with 66.28 per cent, followed by “CEFTA 2006” Agreement countries-signatories with 13.04 per cent, which all resulted in a decrease of the trade deficit with the EU of 4.4 per cent, since the export surpassed the import.
The export of industrial products in the first six months of this year increased for 2.1 per cent, in relation to the same period last year, while the import of these products increased for 0.4 per cent, which resulted in deficit decrease for 3 per cent. Simultaneously, the same period of time saw an increase of export of agricultural products for 12.83 per cent.
From among main trade partners, the major coverage of import by export is registered with Austria, Slovenia, Germany, Croatia, Italy, Turkey and Serbia.
In the first half if 2016, BiH exported mainly to Germany, Italy, Croatia, Slovenia, Austria, Serbia, Turkey, Montenegro, Hungary and Netherlands, and such imports accounts for 74.7 per cent of total export. The major import was form Germany, Italy, Serbia, Croatia, China, Slovenia, Turkey, Russia, Austria and Poland, and in the January-June 2016 time, the import from these countries participated with 72.1 per cent in total BiH import.
The Ministry of Foreign Trade and Economic Relations will draft a specific information on goods exchange with the “CEFTA 2006” countries, with recommendations and measures for the promotion of BiH export.