The impact of CEFTA implementation on the agri-food trade of the Republic of Srpska entity (Bosnia and Herzegovina)

Abstract

Given the crucial role of the agricultural sector in the economic development of the Republic of Srpska, trade in agri-food products is of considerable importance, particularly with CEFTA countries. This paper investigates the impact of the multilateral trade agreement CEFTA on agri-food trade flows. Using statistical data from 2013 to 2021 and applying descriptive analysis methods, the paper aimed to assess exports, imports, and total trade in agri-food products. The findings reveal that CEFTA implementation positively affected agri-food product exports and overall trade volume between the Republic of Srpska and the CEFTA countries. Specifically, the results have indicated a consistent trade deficit in the total trade volume of the agri-food sector, highlighting the necessity for and significance of policy measures aimed at enhancing competitiveness and reducing the trade gap.