Minister Sarovic with the British Trade Commissioner: Work on a stronger linking between the economies of BiH and the UK

Minister of Foreign Trade and Economic Relations, Mirko Sarovic spoke today with the British Trade Commissioner for Europe, Andrew Mitchell and the British Ambassador to BiH, Matthew Field on a stronger linking between the two countries' economies and numerous potential for British companies to invest in Bosnia and Herzegovina.

Stressing that Bosnia and Herzegovina achieved a record of 71% coverage rate of imports by the exports with the EU, Minister Sarovic emphasized the importance of the UK support to meet the necessary European standards.

"The export to the EU is not hindered, which we could not imagine just a couple of years ago. Now we have the highest standards for all food of plant and animal origin, and given that we have adopted an action plan for red meat, I expect that by the end of this year we will also start exporting this type of food, thus completing the fulfillment of the objectives pursued," said Minister Šarović.

During the meeting it was saidthat European standards has also been achieved in the field of energy, where the share of renewable energy sources in a final consumption is currently higher than the European average. A common position is that it is necessary for the entity authorities to "unblock" the adoption of the Law on Electricity and Gas as soon as possible to establish an organized market in BiH. Commissioner Mitchell expressed great interest for investment by British companies in this and other fields, pointing out the examples of good practice of the British companies investing in BiH.

The interlocutors agreed that it is essential to continue the cooperation between the two countries in the event of the creation of an independent market policy of the United Kingdom, upon possible withdrawal from the EU membership. In this regard, Bosnia and Herzegovina's willingness to continue and to intensify cooperation in those possible and new circumstances was emphasized.