Bosnia and Herzegovina: foreign trade policy and foreign trade balance in terms of the EU association process. (2018)

• Record Type: Journal Article
• Authors: Jerinić, Marina; Ćavar, Dijana; Jurić, Jelena
• Is Part Of: International journal of diplomacy and economy. Volume 4:Number 2(2018)
• Page Start: 139
• Page End: 171
• Publication Date: 2018
• Subjects: foreign trade balance -- foreign trade policy -- EU association process -- deficit -- Bosnia and Herzegovina -- B&H; International economic relations -- Periodicals; Diplomacy -- Periodicals; 337.05
• Languages: English
• ISSNs: 2049-0887

Abstract

Bosnia and Herzegovina (B&H) is a small and open country specific by its complex administrative structure and many transitional problems. Unfortunately, the country has a continuous foreign trade deficit. Domestic companies' low competitiveness and many non-tariff barriers they are being exposed to on the international market are the main obstacles to the better position in the international trade. As other countries in the region, B&H has also expressed aspiration to join the European Union by the CEFTA and Stabilisation and Association Agreement (SAA). Integration is intertwined with trade-relations and progressive liberalisation may have unintended consequences. So, how does EU association process affect B&H's foreign trade balance? Analysis of B&H's foreign trade policy and foreign trade balance in the light of the EU association process and recommendation for foreign trade policy makers are given below.