News in English     | 10.03.2020. 15:18 |

Jašarspahić: Businesses should use the 'force majeure' mechanism

FENA Darinka Mitrović

SARAJEVO, March 10 (FENA) - The Federation of BiH Chamber of Commerce President Mirsad Jašarspahić says the Chamber is in direct contact with its members, which operate in the world markets currently most vulnerable to coronavirus.

Numerous sectors have been affected, he said. From the tourism that suffers the most, through the transport sector, to footwear and textile industries, where employers are already considering options to switch suppliers and look for alternative markets.

“We are currently collecting information from our members to find out what the situation is, rather than relying on expert opinions.

Problems already exist, the slowness of the process of crossing borders and transport of goods is happening already, which leads to a slowdown in economic activities. What we are suggesting to our members is that they stick to their contracts and use a "force majeure" mechanism through which they can protect their business,” said Jašarpsahić.

(FENA) S. R.

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