Dr. Lagumdzija – Zeybekci: Strengthening economic cooperation between B&H and Turkey by increasing trade volume and Turkey's investment in B&H



On 10 April, 2014, Deputy Chairman of the Council of Ministers and Minister of Foreign Affairs of Bosnia and Herzegovina Dr. Zlatko Lagumdzija met in Sarajevo with Minister of Economy of the Republic of Turkey Nihat Zeybekci.

Dr. Lagumdzija expressed his satisfaction over the visit of Minister Zeybekci and the delegation of Turkish businessmen to Bosnia and Herzegovina and meetings of B&H and Turkish businessmen to be held in Sarajevo in organization of the Foreign Trade Chamber of Bosnia and Herzegovina.

Dr. Lagumdzija emphasized friendly relations between Bosnia and Herzegovina and Turkey and pointed to the importance of further strengthening economic cooperation between the two countries. He said that economic cooperation, among other things, needs to be developed by increasing trade volume, reducing B&H trade deficit, as well as increasing Turkey's investment in B&H.

Minister Zeybekci announced that the Government of the Republic of Turkey will encourage investors of Turkey to continue to invest in Bosnia and Herzegovina. In that regard, he noted that the Government of the Republic of Turkey took into consideration the possibility to provide tax relief for businessmen who invest in B&H as they get the same when they are investing in undeveloped parts of Turkey and also to provide favorable credit lines for investment in B&H.

Dr. Lagumdzija welcomed the fact that the two countries have a large number of signed bilateral agreements which represent the framework for the further development of relations, such as the Agreement on cooperation in the field of agriculture that provides a good basis for improving cooperation and attracting investors of Turkey in this sector. He stressed the need for holding meetings of Joint Economic Commission and Joint Committee and welcomed the activities of the B&H - Turkey Business Council to promote trade and economic relations between the business communities of the two countries.

Dr. Lagumdzija pointed to the benefits of investing in infrastructure, agriculture, energy , tourism, education, health and other sectors in B&H and he invited Turkish companies to invest in the construction of the Corridor 5c that would follow the example of other Turkish companies which participate in this area in B&H. He also invited the Turkish officials and businessmen to participate in the upcoming Sarajevo Business Forum that will gather a large number of domestic and foreign investors, representatives of business community and the diplomatic corps. On this occasion, Dr. Lagumdzija reiterated that B&H is interested in fostering cooperation in energy projects in B&H, Turkey or third countries and particularly in joint working and engaging in third markets.