2 March 2010
WYG International is helping Bosnia and Herzegovina move a step closer towards joining the European Union (EU) in a €1.4m EU funded project.
WYG is leading an international consortium in supporting pre-accession measures designed to assist private sector companies, especially Small Medium Enterprises (SMEs), improve their competitiveness and enhance their export capacities and performance in order to stimulate international trade.
The two-year project forms part of the EU’s investment into pre-accession measures in Bosnia and Herzegovina, designed to pave the way for the country’s entry into the EU. Crucial elements in these preparations are the laying of foundations to stimulate economic growth and increase trade opportunities, as key components of sustainable development and growth.
Bosnia and Herzegovina is carrying a substantial trade deficit, indicating weakness in its export performance. This weakness has wider consequences for economic stability and a direct impact on the country’s economic prospects and those of its citizens.
This project will review legal documents and offer policy advice to develop the necessary capacities to plan, prioritise, and secure necessary finance for the effective implementation of export promotion activities.
Sally Kelly, WYG International director for the Western Balkans region, said: “This closely compliments another project we are managing in Bosnia, which is aimed at stimulating growth and development of the business environment. Both projects are driving forward the change that will help with Bosnia and Herzegovina’s EU membership aspirations. The fundamental premise for promoting international trade, in both goods and services, as well as through inward foreign investment, is that trade raises living standards. Standards rise as a direct result of the greater choices and opportunities that increased trade, and the resulting economic growth, create.”