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Just as service activities have been major engines of national economic growth, so too have they become an increasing factor in international trade flows and economic interdependence. (Human Geography, pg.343) The political, economic and social map of the Bosnia and Herzegovina State was changed to a great extent by the war. The country is therefore in a period of transition, with programs of reform and reconstruction in progress. Before the war Bosnia and Herzegovina was a medium-developed industrial and agricultural state with about 1,000 industrial organizations. After the war it was left with economic output at less than 10 per cent of its previous record. The country is therefore currently under economic recovery, with the revival coming about through the combined efforts of the governments (Federation of Bosnia and Herzegovina and Republika Srpska), the international financial institutions, international donors and foreign investment. Economic infrastructure (power, roads, railways, telecommunications, water supply etc) has been reconstructed giving a possibility of economic recovery and realization of projects. The number of the unemployed is extremely high; therefore tax concessions are available for potential investors who are opening new working places in the country. New employment as well as market ambience and institutional and political frameworks for fast economic and social transition are all priorities of the reconstruction process in Bosnia and Herzegovina. http://www.link2exports.co.uk/countryprofiles/regions.asp?lsid=252 US Reaches Out to Bosnia and Herzegovina Companies By Violeta Kovaçeviç for Balkan Times in Banja Luka -- 02/05/02 The US Embassy in Bosnia and Herzegovina (BiH) organized a series of presentations on programs the US government is sponsoring to support local economic development and co-operation between BiH companies and US. Led by Ambassador Clifford Bond, the delegation of US trade and commercial agencies began the US Commercial Outreach events in April. The presentation held in Banja Luka on 4 April at the Republika Srpska (RS) Chamber of Commerce addressed companies from the greater Banja Luka region. The delegation discussed business development funds, preparation of feasibility studies, equity financing, business partnering, generalized system of preferential tariffs, environmental partnerships and trade lead facilitation. RS Prime Minister Malden Ivanic and BiH Ambassador to the United States Igor Davidovic attended the opening event.
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