BiH: Latest EU measures push exporters up against the ropes

BiH: Latest EU measures push exporters up against the ropes

In the first nine months of this year, Bosnia and Herzegovina’s exports were lower by 1.1 billion BAM YoY, as the Foreign Trade Chamber (STK) of BiH announced.

In the same period, exports from Bosnia and Herzegovina amounted to 7.8 billion BAM, although many European Union countries are once again introducing more restrictive measures. This could signal new problems for exporters from BiH, who have already recorded huge losses.

The Foreign Trade Chamber of BiH points out that the economy of BiH recorded a slight recovery in the third quarter, however the new measures in European countries are again cultivating uncertainty in the field of exports.

“The endgame of current events and the uncertainty that threatens our exporters is the impossibility of planning business in the short term, which is a big problem considering the possibilities of financing”, the STK argue.

As they point out, this situation has left no one untouched. Road, rail and air transport are recording large losses as the percentages of revenue decline and, if rigorous measures remain, they could be augmented even more. They claim the biggest problem for exporters at the moment lies in the numerous sanitary and medical controls, which have been tightened in many countries.

“In the first six months of this year, the number of transported passengers decreased by almost 83% YoY, while the number of airport operations shows a decrease of 77.8%”, the STK told Klix.ba.

Unlike the countries of the European Union, there are currently no problems with the countries of the region, and consequently exports to these countries take place without major disruptions.

The huge administrative apparatus of the state in this situation is a big problem in facilitating export procedures and adopting adequate measures.

“Many times, our initiatives and requests are executed with a great delay due to the administrative system of BiH”, the STK states, adding that 40 initiatives related to exporters have been sent so far, with 33 of them having been adopted. /ibna

 

(1 BAM = 0.511292 EUR)