IMPORTANT DECISIONS ADOPTED TO SUPPORT DOMESTIC ECONOMY

SARAJEVO, DECEMBER 30 /SRNA/ - The Minister of Foreign Trade and Economic Relations in the Council of Ministers Staša Košarac emphasized that the Council of Ministers has adopted important decisions to support the development of the economy of Republika Srpska and the Federation of BiH.

He said that at yesterday's session of the Council of Ministers, a decision was adopted on the temporary suspension and reduction of customs duties for certain goods, funds were approved for trade fair events both domestically and abroad, and a decision was made to open temporary tariff quotas for the import of mineral fertilizers in 2026. He stated that these are measures on which the Ministry of Foreign Trade and Economic Relations of BiH is continuously working, in cooperation and coordination with the relevant entity ministries, the chamber system, and the business community of Republika Srpska and the Federation of BiH. "Our goal is to adequately respond to and support the business community, particularly domestic companies engaged in manufacturing activities," Košarac said. He stated that the decision on the suspension and temporary reduction of customs rates for the import of certain goods applies until December 31, 2026, and covers raw materials and supplies used in domestic production that cannot be obtained on the domestic market in the quantities and quality required for the manufacture of finished products. "The decision will enable more favorable and competitive operations for business entities, as well as improve the conditions for domestic production, particularly in the textile and leather industries, footwear, chemical, metal, electrical, food, printing, and automotive industries, and in the production of hygiene products," Košarac emphasized. Košarac stated that a total of BAM 900,000 has been approved for trade fair events domestically and abroad, of which BAM 600,000 will be allocated to support trade fairs within the country, and BAM 300,000 for fairs abroad. "With this measure, we contribute to the development policies of the governments of Republika Srpska and the Federation of BiH, and we support the efforts of our entrepreneurs to showcase their products in the best possible light, both domestically and internationally," Košarac said. He emphasized that the decisions were created based on a broad range of consultations with the relevant institutions in Republika Srpska and the Federation of BiH, as well as with the chambers of commerce. Košarac said that a decision has been adopted to open temporary tariff quotas for the import of mineral fertilizers in 2026. "This is an emergency measure aimed at addressing the problems of shortages and high prices of mineral fertilizers caused by the increase in energy costs necessary for their production," Košarac stated.