Bosnia and Herzegovina's metalworking industry companies barriers to export to EU market

Abstract

Export of products and services on EU market can bring great benefits, but also sets requirements to companies which are not easy to meet. Metal processing industry today is the main exporter in Bosnia and Herzegovina (BIH). However value of import significantly exceeds value of the export. Therefore, there is a need to increase export to EU market. The aim of this paper is an empirical examination of the export possibilities to EU market, conducted on a sample of 24 metal complex companies in BIH. Obtained results indicate that adequate marketing strategy is a minor influential factor for export to EU market. Also the research shows that a significant number of companies is not familiar with new approach directives, as well as with procedures for conformity assessment. Most of the surveyed companies have an opinion that there is not enough number of adequate laboratories and institutions for export assistance. Also, the lack of capital for export financing in the companies as export barrier is significant. This topic should be further researched, as it is very important for companies' growth and development in BIH.

Keywords

• export to EU market
• formal requirements for export
• barriers for export