• establish, by June 1999, a Treasury as a part of the proposed Ministry of Finance;
• ensure proper implementation of the Foreign Trade, Foreign Investment and Customs Laws, including establishing, by 1 March 1999, a mechanism to monitor implementation of the Law on Customs Policy of Bosnia and Herzegovina.

17. For the immediate future, the Council attaches great importance to the creation of a single economic space within the territory of Bosnia and Herzegovina. The Council reminds the Entities of the need immediately to cease customs practices giving custom duty exemptions to imported commodities in contradiction to the BiH tariff law.The Entities should also further harmonize their legislation taxation, labor and capital markets laws.

18. The Council emphasizes the need to ensure better governance and full transparency in public finances.To that effect the Council urges the Entities:  

• to co-operate fully and without reservation with the international community on a comprehensive and coherent structural reform of the payments bureaus. The reform must cover the payments clearing functions, the treasury functions, information and accounts for tax compliance and other key aspects. Detailed functional and financial audits of the payment system should begin in January 1999 and be completed by June 1999. A detailed and final plan for the reform  of the payment system and a timetable for the implementation of this plan will be prepared and agreed upon with the international community by June 1999. The implementation of the entire reform program will be completed by 31 December 2000. This will coincide with the abolition of the present payment bureaus by that date;  
• to reinforce transparency, accountability and auditing. A work plan to carry this out must be finalized between each Entity, the High Representative, the IMF and the World Bank and other relevant agencies before 1 March 1999. In particular each Entity shall establish during 1999 a Treasury and a Supreme Audit Institution; parliamentary commissions should be formed in 1999, at the Entity and State level, with the obligation to review the reports of the Supreme Audit Institutions;
• in the Federation, to ensure a unified budget, customs administration and payment system immediately, and full financial accountability of the telecommunications and power companies by 1 March 1999.

The Council requires that the BiH telephone code 387 be used by all telecommunication operators for incoming and outgoing international calls before 1 February 1999.

19. The Council emphasizes the need for adequate social protection. It urged the Entities to:

• develop, in co-operation with donors, a strategy to fight poverty, including social protection for vulnerable elements of society by September 1999;
• agree with donors by mid-1999, and implement, starting in September 1999,

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