Baku, Azerbaijan, Mar. 9
By Elena Kosolapova - Trend:
There is a potential for trade cooperation of Bosnia and Herzegovina with Azerbaijan especially in the fields of mechanical engineering, electrical industry, energy, construction and pharmaceutical industries, Chairman of the Presidency of Bosnia and Herzegovina Mladen Ivanic said in an interview with Trend.
“Excellent bilateral relations between Bosnia and Herzegovina and Azerbaijan opened the space for better economic and business cooperation,” Ivanic said.
Trade between Bosnia and Herzegovina and Azerbaijan is limited and sporadic because of the distance between the two countries, their geostrategic position and the absence of the agreement on trade and economic cooperation, he noted.
“Azerbaijan showed interest for investment projects in the field of tourism, infrastructure, energy (hydropower), food, wood and pharmaceutical industries,” he said. “Azerbaijan is also interested in investing in refineries, oil terminals and pipelines in South East Europe.”
He noted that the memorandum of understanding between the Foreign Trade Chamber of Bosnia and Herzegovina and Azerbaijan Export and Investments Promotion Foundation (AZPROMO) has already been signed and a successful direct cooperation has been achieved on their basis in organizing the business forums.
Direct contacts between Bosnia and Herzegovina and Azerbaijani officials have been held regarding the activities for the forthcoming period which would lead to an increase in economic cooperation between the two countries, he added.
The ambassador of Azerbaijan needs to visit Bosnia and Herzegovina in order to examine the possibility of organizing the business forum between the two countries in 2017, Ivanic said.
“There is also an announcement for finding the possibilities to establish the air traffic and the possibility of cooperation and continuation of operations on the construction of Corridor Vc [the main north-south road through Bosnia and Herzegovina], therefore we do expect the response from Azerbaijan as the country to be in the focus of this year’s Sarajevo Business Forum,” he noted.
He went on to add that regarding the economic field, Azerbaijan has already made two important investments to Bosnia and Herzegovina.
The first investment was made to Srebrenica city with about hundred people employed, and the second investment was made in the construction of the fruit and vegetable processing factory in Doboj city, thus creating the conditions for additional employment of several hundred people, Ivanic said.
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