Bosnia and Herzegovina is a country that has decided for the European road. On the way to full membership in the EU, Bosnia and Herzegovina must be prepared for a series of challenges. The main challenges are: the harmonization of the laws and regulations with the EU, achieving political and economic stability, market opening and preparation of local companies and local consumers for the European competition. On this road there are a number of obstacles to be faced with, but most of economists agree with the statement that Bosnia and Herzegovina has the largest economical exchange and cooperation with the countries of the EU, so they agree that European union has no alternative. European funds were and still are an inexhaustible source of assistance that this country is used and which will be used initially for the reconstruction of the state system and infrastructure for all spheres of society, economy, etc. Clever use of funds can accelerate the development of Bosnia and Herzegovina and can improve the standard of living. To understand and make better use of the funds we need to invest in informing the population about the benefits of cooperation with the EU, and it is also very important to do training of state staff that will address all areas of cooperation between the EU and this country. Bosnia and Herzegovina has a opportunity to correct their political, legal, economic, and general system irregularities and that open the way to the Community Member States of the European Union.

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