Bosnia's Presidency has adopted a document approving a reform plan that would unblock the country's path toward EU membership.

The document has now to be endorsed by the country's parliament and signed by the leaders of all 14 parties that won seats in October's elections, in order for the EU to release financial aid to the troubled Balkan country and upgrade its status with the bloc.

The EU previously said the plan of social, legal and economic reforms, developed by Germany and Britain, was the country's last chance to move forward.

The chairman of the three-member Presidency, Mladen Ivanic, said Thursday the Presidency's move is just the first step on a path that will allow Bosnia to acquire EU candidate status within four years.