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Bosnia and Herzegovina Bahrija Umihanic , Ajka Barucic & Lejla Ahmetagic

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Bosnia and Herzegovina Bahrija Umihanic , Ajka Barucic & Lejla Ahmetagic Bosnia and Herzegovina Bahrija Umihanic , Ajka Barucic & Lejla Ahmetagic osnia and Herzegovina is a country in southeastern PROFILE BEurope on the Balkhan Peninsula. Bordered by Croatia to the north, west and south, Serbia to the east and Population: 3,879,296*** Montenegro to the southeast, it is landlocked except for GDP (Current US$): 31.57 billion**** the 20 kilometer coastline on the Adriatic Sea. Per Capita Income: 8,100**** Called Illyricum in ancient times, the area now called (Current US$) Bosnia and Herzegovina was conquered by the Romans in Surface Area: 51,197 sq. km the 2nd and 1st centuries B.C. and folded into the Roman Life Expectancy: 78.96 years province of Dalmatia. In the 6th century the Byzantine Empire claimed it. Slavs began settling the region during Literacy (%): 97.9% (of ages 15 and above) the 7th century. Around 1200, Bosnia won independence HDI Rank: 74**** from Hungary and endured as an independent Christian Sources: state for some 260 years. - https://www.cia.gov/library/publications/the-world- factbook/geos/bk.html The Turks conquered Bosnia in 1463. During the roughly - http://hdrstats.undp.org/images/explanations/BIH.pdf (***) For the year 2012 450 years Bosnia and Herzegovina were under Ottoman (****) For the year 2011 rule, many Christian Slavs became Muslim. At the Congress of Berlin in 1878, following the end of the Russo- Turkish War (1877–1878), Austria-Hungary was given a Economy mandate to occupy and govern Bosnia and Herzegovina. Bosnia and Herzegovina (BA) is divided into two entities As a result, relations with Serbia, which had claims on with significant autonomy – the Federation of Bosnia and Bosnia and Herzegovina, became embittered. The hostility Herzegovina (Federation) and the Republic of Srpska (RS). between the two countries climaxed in the assassination A smaller third jurisdiction – the Brcko District (BD) – is of Austrian archduke Franz Ferdinand in Sarajevo on June administered separately. The Federation is further divided 28, 1914, by a Serbian nationalist. This event precipitated into ten cantons, which also have significant autonomy. the start of World War I (1914–1918). Bosnia and Herzegovina were annexed to Serbia as part of the newly The country’s political environment and complex formed Kingdom of Serbs, Croats, and Slovenes on Oct. government structure create significant obstacles to 26, 1918. At the end of World War II, Bosnia and economic development. Herzegovina were reunited into a single state as one of the six republics of the Communist Yugoslavia. Bosnia is a transitional economy with limited market reforms. The economy relies heavily on the export of In a March 1992 referendum, Bosnian voters chose metals as well as on remittances and foreign aid. The independence, and President Alija Izetbegovic declared interethnic warfare in Bosnia and Herzegovina caused the nation an independent state. Unlike the other former production to plummet by 80 percent from 1992 to 1995 Yugoslav states, which were generally composed of a and unemployment to soar. With an uneasy peace in place, dominant ethnic group, Bosnia was an ethnic tangle of output recovered in 1996-99 at high percentage rates from Muslims, Serbs, and Croats, and this mix contributed to a low base; but output growth slowed in 2000-02. Part of the duration and savagery of its fight for independence. the lag in output was made up during 2003-08, when GDP Original paper done in Bahrija Umihanic, Ajka Barucic & Lejla Ahmetagic in November 2012. Bosnia and Herzegovina • 1 growth exceeded 5 percent per year. However, the country mismanagement and/or non-transparent privatisation experienced a decline in GDP of nearly 3 percent in 2009 brought further economic trouble for all former republics reflecting local effects of the global economic crisis. One of Yugoslavia in the 1990s. Still regarded as a transition of Bosnia’s main economic challenges since the recession economy, Bosnia and Herzegovina sees the long-term goal began has been to reduce spending on public sector wages of EU membership as a driver to further economic growth and social benefits to meet the IMF’s criteria for obtaining and development. Fostering a dynamic, competitive private funding for budget shortfalls. The convertible mark or sector is one of the top economic priorities. BAM - the national currency introduced in 1998 - is pegged to the euro, and confidence in the currency and the banking Competition Legislation and Institutions sector has increased. Bosnia’s private sector is growing, The Council of Competition was established in May 1st, but foreign investment has dropped off sharply since 2007. 2004 as an independent public body mandated to ensure Government spending, at roughly 50 percent of GDP, consistent implementation of the Act on Competition remains high because of redundant government offices at passed in 2001. It is located in Sarajevo and it has exclusive the state, entity and municipal level. A sizeable current competence to decide on the presence of prohibited account deficit and high unemployment rate remain the competition activities in the market of Bosnia and two most serious macroeconomic problems. In 2011, the Herzegovina. country continued to recover from a recession caused by the global financial crisis. For the first time, this Act established the competition policy as one of more important instrument and pillar in Bosnia and Herzegovina offers opportunities to well- creation and strengthening the single economic area / prepared and persistent exporters and investors. The market in Bosnia and Herzegovina. country is open to foreign investment and offers a liberal trade regime. Significant industries are: steel, coal, iron The Act on Competition, passed in 2001, comprised the ore, lead, zinc, manganese, bauxite, aluminum, vehicle basic rules of competition within the meaning of Article assembly, textiles, tobacco products, wooden furniture, 81 and 82 of the EC Treaty, but it did not apply to practices ammunition, domestic appliances, oil refining. and resolutions of the modern European legislation – acquis in this field. Therefore, a new Act was passed and it has Competition Evolution and Environment been in effect since July 27, 2005. Compatibility of the Bosnia and Herzegovina was one of the six constituent new Act on Competition with stipulations and regulations Socialist Republics of the Socialist Federal Republic of of the European Union legislation in the field of market Yugoslavia(SFRY). Despite common origins, the economy competition ensures the effective and transparent of the SFRY was much different from economies of the application of the law, simple procedures, reduced duration Soviet Union and other Eastern European socialist of the proceedings and in general, reduced level of the countries. state intervention in this field. Following World War II there was an implementation of Compared to the previous Act, the new Act grants the Soviet-style five-year plans and reconstruction through motivated penalty policy for undertakings (Leniency massive voluntary work. The countryside was electrified policy), effective mechanism of market control and and heavy industry was developed. The economy was establishes the cooperation with international agencies in organised as a mixed planned socialist economy and a this field. decentralised, worker managed market socialist economy: factories were nationalised, and workers were entitled to a This Act shall apply to all forms of prevention, restriction certain share of their profit. Privately-owned craft shops and distortion of the market competition on the whole could employ up to 4 people per owner. Land was partially territory of Bosnia and Herzegovina or out of the territory nationalised and redistributed, and partially collectivised. of Bosnia and Herzegovina having the substantial effect In 1950s socialist self-management was introduced, which on the market of Bosnia and Herzegovina. The special reduced the state control of the economy. Managers of attention is directed towards the agreements on dominant socially owned companies were supervised by worker position and abuses of dominant position, and on rules councils, which were made up of all employees, with one and procedures concerning the competition between vote each. The workers were organised into trade unions undertakings. which spanned across the country. New Act on Competition ensures the increased and However, during and after the oil crisis of the 1970s, the precisely defined competencies of the Council of foreign debt grew massively and by early 1980s it reached Competition in carrying out the administration and more than US$20bn. Yugoslavia took on a number of professional duties referred to the different aspects of the International Monetary Fund (IMF) loans and subsequently market competition control (i.e. methods of carrying on fell into heavy debt. As a condition of receiving loans, the the proceedings, final decision making, penalty policy and IMF demanded “market liberalisation” of Yugoslavia.The duration of the proceedings). Yugoslav wars, consequent loss of market, as well as 2 • Competition Regimes in the World – A Civil Society Report The Council of Competition of Bosnia and Herzegovina has been a member of the International Competition Box 1: A case of fixed prices Network (ICN) since middle of 2005. In 2012 Council of Competition BiH sanctioned Apatin Anticompetitive Business Practices brewery for signing prohibited agreements with the Prohibited competition practices are explained
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