WITHDRAWAL OF THE UNITED KINGDOM OF GREAT BRITAIN AND NORTHERN IRELAND IN THE EUROPEAN UNION - COMMERCIAL REGIME NOTICE WITH BOSNIA AND HERZEGOVINA AFTER January 31, 2020 –

As is known, the United Kingdom of Great Britain and Northern Ireland (hereinafter referred to as "the United Kingdom") announced its intention to withdraw from the European Union on March 29, 2017 in accordance with Article 50 of the Treaty on European Union.

Following their negotiations, the United Kingdom and the European Union reached an Agreement signed by the European Council President Charles Michel and the European Commission President Ursula von der Leuen with the Prime Minister of the United Kingdom, Boris Johnson, in London, on January 24, 2020.

According to the provisions of the Agreement, the United Kingdom will, upon completion of the prescribed procedures on both sides, leave the European Union at 00:00 CET on January 31, 2020.

During the transition period until December 31, 2020, the European legislation will continue to be applied to and in the United Kingdom, including international treaties concluded by the Union by the moment of its exit from the EU.

Accordingly, the trade provisions of the Stabilization and Association Agreement between Bosnia and Herzegovina and the European Union will continue to apply to trade between Bosnia and Herzegovina and the United Kingdom until the end of the transitional period or the conclusion of a new treaty between Bosnia and Herzegovina and the United Kingdom, depending on which of the foregoing is realized earlier.