FIPA Activities

FIPA at Event "Day of Bosnia and Herzegovina" in Ankara

7/7/2017

In order to improve economic cooperation between Bosnia and Herzegovina and the Republic of Turkey in the field of investments and trade exchange, the Embassy of Bosnia and Herzegovina in Turkey and Ankara Chamber of Commerce organized the Event "Day of Bosnia and Herzegovina" on 5 July in the capital of Turkey.

Participating at the event, the FIPA representative Jasmina Dževlan spoke about the trade exchange between the two countries, the influx of Turkish investments in BiH so far, the top import food and other products in BiH with the aim to draw attention to the possibility of producing a large number of products in BiH in many sectors, bearing in mind the fact that Turkey is known as big producer of consumer goods.

Investment sectors of BiH have also been presented with a focus on comparative advantages related to the neighbouring countries, the status of foreign investors, and it was highlighted successful examples of foreign companies operating in BiH in different sectors.

The event was attended by 30 Turkish businessmen from the food, wood and metal industries, then textile, medical, military industry and tourism.

At the end of the presentation, a panel discussion was held at which Turkish businesspeople were interested among others in current security situation in BiH, possibilities for finding business partners in BiH, and the process for registering a company.

Contacts with these companies and businessmen will continue with the goal of providing the necessary information and organizing the announced visits to Bosnia and Herzegovina.

The competent institutions of BiH have intensified in the last year promotional activities, including every form of representation of the country, with the aim also to eliminate the prejudices that institutions face within their business meetings abroad.

Speakers at the event were HE Ambassador of Bosnia and Herzegovina to Turkey g. Bakir Sadović, Chairman of the Board of Directors of the Chamber of Commerce of Ankara g. Gjursel Baran, Turkish entrepreneur Muzafer Cilek, and BIGMEV representative Cenita Kocaman.

Testimonials & Success Stories
 

Global Investment Promotion Best Practices 2012 of the World Bank has cited one example of support that FIPA provides to foreign investors who are running business in Bosnia and Herzegovina in order to contribute to increase the flow of foreign capital in the country.

The article said:  

„The Foreign Investment Promotion Agency (FIPA) of Bosnia and Herzegovina was an early convert to the idea of providing facilitation services to agribusiness investors as a way to maximize the positive impact of agriculture on the economy.

In 2007, for example, FIPA assisted a Dutch food processing company establish a US$1.6 million production facility to process unused milk ingredients into value-added products in Sarajevo to sell to markets in Eastern Europe and the Middle East.

As part of its aftercare program, FIPA assisted the company with its expansion plans. Among other things, the agency helped facilitate veterinary permissions, navigate various bureaucratic hurdles and played an important role in securing funding for the company’s expansion. It also helped develop a network of local suppliers and customers. As a result of these efforts, the Dutch investor developed stronger links with the Bosnian economy, thus increasing the positive spillover effects on the local economy.

Currently a new investment to establish a drying facility for milk powder is under way. This will further expand the processing facilities of unused milk ingredients. This additional planned investment is worth approximately US$2.8 million, thus nearly trebling the company’s original investment in the country“.

 

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