ASSIGNMENT NO 2 After Mid

NAME: .Muhammad Umer Farooq 007

.Syed Aoun abbas 271

.Husnain Zafar 001

SUBJECT: “I.R”

SECTION: Section (A) 3rd S.

SUBMITTED TO: Dr. Nasir

ASSIGNMENT TOPIC: Assignment on a country Bosnia

& Herzegovina.
 “REPUBLIC OF BOSNIA AND HERZEGOVINA”

OVERVIEW:

In 2020, Bosnia and Herzegovina was the number 112 economy in the world in terms of GDP
(current US$), the number 102 in total exports, the number 98 in total imports, the number
104 economy in terms of GDP per capita (current US$) and the number 44 most complex
economy according to the Economic Complexity Index (ECI).

1. BiH Major import and exports:

 EXPORTS
The top exports of Bosnia and Herzegovina are Electricity ($352M), Seats ($276M), Other
Furniture ($208M), Iron Structures ($191M), and Insulated Wire ($191M), exporting mostly
to Germany ($938M), Croatia ($797M), Serbia ($723M), Italy ($685M),
and Austria ($600M). Exports of B&H are given below:
  IMPORTS

The top imports of Bosnia and Herzegovina are Refined

Petroleum ($484M), Cars ($342M), Packaged Medicaments ($321M), Electricity ($153M),
and Coal Briquettes ($152M), importing mostly
from Serbia ($1.37B), Croatia ($1.34B), Germany ($991M), Italy ($885M),
and Slovenia ($767M). Imports of B&H are given below:

 LOCATION
Bosnia and Herzegovina borders Croatia, Montenegro, and Serbia by land.
POPULAR INDICATORS - MOST RECENT VALUES.

Bosnia and Herzegovina had a total export of 6,152,512.54 in thousands of US$ and
total imports of 9,867,513.97 in thousands of US$ leading to a negative trade balance of -
3,715,001.43 in thousands of US$.

 The Effectively Applied Tariff Weighted Average (customs duty) for Bosnia and
Herzegovina is 2.86% and the Most Favored Nation (MFN) Weighted Average tariff
is 8.74%.The trade growth is -3.18% compared to a world growth of -3.91%.

GDP of Bosnia and Herzegovina is 19,788,422,248.11 in current US$. Bosnia and

Herzegovina services export is 1,309,564,423.13 in BoP, current US$ and services import is
517,143,589.57 in Bop, current US$.Bosnia and Herzegovina exports of goods and services
as percentage of GDP is 34.32% and imports of goods and services as percentage of GDP is
48.94%.

BOSNIA AND HERZEGOVINA COUNTRY GROWTH V/S WORLD

GROWTH V/S GDP GROWTH
  Bosnia and Herzegovina’s WTO accession negotiations advance
towards conclusion.

The World Trade Organization (WTO) deals with the global rules of trade between nations.
Its main function is to ensure that trade flows as smoothly, predictably and freely as possible.

 At the 13th meeting of the Working Party on the Accession of Bosnia and
Herzegovina held on 7 February, WTO members supported the swift conclusion of
the negotiations and welcomed the strong commitment and desire by Sarajevo to
finalize this process in the coming months. Bosnia and Herzegovina started its
accession negotiations to the WTO in July 1999.

Bosnia and Herzegovina’s Working Party was established on 15 July 1999. The Working
Party met for the thirteenth time in February 2018. The Working Party is chaired
by Ambassador Atanas PAPARIZOV (Bulgaria).

 Accession negotiations relate to the conditions under which the country will be
admitted to the (EU) European Union and focus on the adoption and implementation
of the EU's body of law (the acquis). The aim is that the candidate country fulfils the
conditions for membership, often referred to as the 'Copenhagen criteria'.

 Trade relation with Pakistan

Pakistan sent UN Peacekeeping forces to the former Yugoslavia during the Yugoslav wars.
During the war of independence, Pakistan supported Bosnia while providing technical and
military support to Bosnia.

Free trade agreement:

The two countries have a free trade agreement and are currently negotiating Preferential
Trade Agreement (PTA). In 2012, the bilateral trade was $301,000. Much of the trade
between the two is routed through some third country making products like surgical
instruments, textile products, rice and lumber much more expensive.