News in English     | 20.09.2018. 20:20 |

A meeting of EU-BiH Subcommittee on Internal Market held today in Brussels

FENA Press release

BRUSELS/SARAJEVO, September 20 (FENA) - Representatives of the EU and BiH exchanged information on the implementation of the Stabilization and Association Agreement at the third meeting of the Subcommittee on the Internal Market and Market Competition between the European Union and Bosnia and Herzegovina in Brussels today, specifically in the area of banking, insurance and other financial services, laws on enterprises, accounting and auditing, public procurement, competition, state aid and public enterprises, public health and consumer protection policies, as well as intellectual, industrial and commercial property rights.

They outlined in detail the progress that has been made in the past one-year period, determined where additional efforts should be made, and in what way it is possible to intensify the fulfillment of the EC recommendations from the previous meeting.

The EC representatives welcomed the fact that BiH has fulfilled its commitments agreed at the previous meeting and at the same time emphasized the need for additional efforts to be made in order to fulfill the recommendations related to the accelerated adoption of laws and the implementation of the necessary reforms.

Also, the European Commission evaluated as a positive step the appointment of the Director and the Board of Directors of the State Insurance Agency, as well as the initiative to take over the provisions of the Directive on the recovery and rehabilitation of banks into domestic legislation.

The EC considers that these are important steps towards establishing a single economic space and harmonization with European legislation and standards.

Among the activities that BiH should implement are, among other, the adoption of amendments to several laws of particular importance for the functioning of the single economic space in BiH: the Law on Public Procurement, the Law on Deposit Insurance, the Law on Competition, the Law on the State Aid System, etc.

It is also necessary to intensify the activities on establishing the system of online registration of business entities in FBiH, as well as the e-procurement system, which will improve the business climate in BiH, and to establish certain bodies such as the single supervisory body in the field of accounting and auditing, stated Directorate for European Integration of BiH.

(FENA) S. R.

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