Analyses of the trade relations between the Republicof North Macedonia and the Republic of Bosnia andHerzegovina

The trade of the Republic of North Macedonia with the Republic of Bosnia and Herzegovina takes place in accordance with the multilateral regional agreement CEFTA 2006, which means that it is completely liberalized. Taking into account this fact, in this paper it has been made an analysis of the value, dynamics and structure of the foreign trade between the Republic of North Macedonia and the Republic of Bosnia and Herzegovina for the time period of 2014- 2023. It has been also analyzed the competitiveness of Macedonian products at the Bosnia and Herzegovina market so that the product categories with a comparative advantage can be determined, using the Standard International Trade Classification and the Balassa Index. The results of the analysis point to the fact the Republic of Macedonia has a comparative advantage in the export of food and live animals, as well as the beverages and tobacco. Key words: The Republic of North Macedonia, Republic of Bosnia and Herzegovina, CEFTA 2006 foreign trade, comparative advantage, Balassa Index