Brussels, 14/04/2014 (Agence Europe) - During a final examination on 8 April by the WTO committee on regional trade agreements, the EU brought clarification to the other WTO member countries about the EU's regional agreement with Bosnia and Herzegovina and also about Croatia's accession to the EU.
The EU stated that the regional trade agreement that links it to Bosnia and Herzegovina is part of its stabilisation and association agreement with this country and linked to its efforts to join the EU. Granted WTO observer status (its accession negotiations have been ongoing since 1999), Bosnia and Herzegovina underlined the contribution of this agreement to the economic reforms that will help it become a member of both the EU and the WTO. Bosnia and Herzegovina also underlined that its trade with the EU represents 60% of its foreign trade and that its regional agreement with the EU provides for a five-year transition period for the reduction of tariffs. The USA has nevertheless criticised the weak level of agricultural tariff reduction shown by Bosnia and Herzegovina as part of this agreement.
The WTO committee also examined the EU's enlargement to Croatia on 1 July 2013. The EU underlined the enormous efforts made by Croatia with regard to this and recalled that, since the withdrawal of the timetable for Croatia's concessions at the WTO on 4 July 2013, consultations with WTO member countries - including Argentina, Australia, Brazil and Uruguay - have been subject to claims for compensation. (EH)