FIPA Director Milica Markovic had a meeting with the Ambassador of Bosnia and Herzegovina to Austria, H.E. Kemal Kozarić. Austria is the largest country- investor and BiH is the only country in the region that has a surplus in trade with Austria. According to Ambassador Kozarić, 170 thousands people from Bosnia and Herzegovina live in Austria. People from BiH are very successful and well-integrated in Austria and recognized as very capable workers. Austrian companies are interested in metal processing, car-components and wood processing sector and furniture production. Bosnia and Herzegovina and Austria will open dialogue on dual citizenship and the revival of 100-year-old tradition of free education for students from BiH.
Director Markovic and Ambassador Kozarić discussed the organization of certain promotional events and activities during 2021, with the aim of further increase of FDI from Austria. A liberal legal regime, low corporate income tax rate, skilled and price-competitive workforce and long-term cooperation between the two countries with similar work mentality are the basis for additional investment.
Director Markovic also had a meeting with Dr. Peter Hasslacher, director of the Austrian Federal Economic Chamber for Southeastern Europe. Dr. Hasslacher informed director Markovic that in Slovenia operates 1 200 Austrian companies, 800 in Croatia, 600 in Serbia, 200 in BiH, 100 in Macedonia and 50 in Montenegro and Kosovo. It was agreed that there is a potential for increase of the number of Austrian investors in BiH. FIPA and WKO discussed future cooperation and plans for the next period, too. Mr. Hasslacher is planning to initiate a regional project with an aim to strength investment cooperation between Austria and SEE countries which will be funded from the EU funds. When it comes to BiH, the focus will be on the IT sector, metal processing and auto parts production, wood processing and furniture production, as well as pharmacy.
Mr. Hasslacher and the Austrian Economic Chamber have confirmed their participation at the event that FIPA is planning to organize with the aim to discuss ideas and recommendations for improve of economic cooperation between the two countries and plans for 2021. Austrian Federal Economic Chamber will provide support to FIPA for the promotion of FIPA projects and investment opportunities through WKO Newsletters and for organization of direct contacts and meetings with Austrian companies.
During the 16th Salzburg-Europe Summit, Director Markovic had a meeting with the director of the Republic of Srpska Representative Office in Republic of Austria Mr. Mladen Filipovic, in order to improve future cooperation and to discuss plans for the coming period.