Bosnia leaders agree on economic reform

Bosnia’s leaders signed a document urging economic reforms which cannot wait for the resolution of political disputes. The document, known as “Our platform for action”, was signed on Tuesday by the prime ministers of Bosnia and its two autonomous entities as well as by the mayor of Brcko district which enjoys a special self-governing status. Bosnia leaders agree on economic reform Agreement on economic restructuring came after the failure to make headway on reforming the police – now the only remaining obstacle in the way of continuing Bosnia’s EU integration process. The setback over police reform has prompted the international community to announce it will focus on economic issues rather than on endless and futile political negotiations. “Reforms that could help turn modest improvements in the economy into full-scale economic take-off have been among the most serious casualties of the political deadlock”, said the top international official in Bosnia, High Representative Miroslav Lajcak, in his opening remarks to the conference where the document was signed. “This is a problem that the citizens of Bosnia and Herzegovina do not need to have”, he said, and added that his intention was to help put economic issues back at the centre of public debate in the country. “Drawing investments, creating jobs and improving the standard of living represent our most important and urgent challenges, for we are committed to economic growth being one of our key goals”, says the platform. Under the auspices of the High Representative’s Office and the European Commission’s Delegation to Bosnia, the platform was signed on behalf of the Bosnian state by Premier Nikola Spiric; for the Federation of Bosnia and Herzegovina, which brings together mostly Bosniaks (Muslims) and Croats, by Premier Nedzad Brankovic; for the Bosnian Serb Republic, by Premier Milorad Dodik; and for Brcko by its mayor, Mirsad Djapo. The platform commits Bosnian leaders to create a better business environment by removing administrative barriers, improving the efficiency of the financial sector and integrating banking sector supervision and the bonds market. It also encourages providing incentives for the opening of markets and for the unhindered flow of goods, services and capital. The document envisages negotiations to reach agreement on an appropriate formula for the distribution of revenues and on improving the fiscal policies of the various levels of government. These goals are to be achieved, in part, through the introduction of greater economies and efficiencies in the social welfare budget to reduce public spending. The signatories pledged to promote other reforms as well to ensure Bosnia’s sustainable development. These include the promotion of greater competition and of a dynamic agricultural and food industry sector, support for faster economic growth, active participation in drafting a mid-term development strategy for 2008-13 and determining further priorities for economic development. Lajcak told reporters that the platform now needed to get the attention it deserves in Bosnia’s parliament.

Bosnia leaders agree on economic reform

Agreement on economic restructuring came after the failure to make headway on reforming the police – now the only remaining obstacle in the way of continuing Bosnia’s EU integration process.

The setback over police reform has prompted the international community to announce it will focus on economic issues rather than on endless and futile political negotiations.

“Reforms that could help turn modest improvements in the economy into full-scale economic take-off have been among the most serious casualties of the political deadlock”, said the top international official in Bosnia, High Representative Miroslav Lajčak, in his opening remarks to the conference where the document was signed.

“This is a problem that the citizens of Bosnia and Herzegovina do not need to have”, he said, and added that his intention was to help put economic issues back at the centre of public debate in the country.

“Drawing investments, creating jobs and improving the standard of living represent our most important and urgent challenges, for we are committed to economic growth being one of our key goals”, says the platform.

Under the auspices of the High Representative’s Office and the European Commission’s Delegation to Bosnia, the platform was signed on behalf of the Bosnian state by Premier Nikola Špirić; for the Federation of Bosnia and Herzegovina, which brings together mostly Bosniaks (Muslims) and Croats, by Premier Nedžad Branković; for the Bosnian Serb Republic, by Premier Milorad Dodik; and for Brčko by its mayor, Mirsad Đapo.

The platform commits Bosnian leaders to create a better business environment by removing administrative barriers, improving the efficiency of the financial sector and integrating banking sector supervision and the bonds market.

It also encourages providing incentives for the opening of markets and for the unhindered flow of goods, services and capital.

The document envisages negotiations to reach agreement on an appropriate formula for the distribution of revenues and on improving the fiscal policies of the various levels of government.

These goals are to be achieved, in part, through the introduction of greater economies and efficiencies in the social welfare budget to reduce public spending.

The signatories pledged to promote other reforms as well to ensure Bosnia’s sustainable development.

These include the promotion of greater competition and of a dynamic agricultural and food industry sector, support for faster economic growth, active participation in drafting a mid-term development strategy for 2008-13 and determining further priorities for economic development.

Lajčak told reporters that the platform now needed to get the attention it deserves in Bosnia’s parliament.