The Director of the BiH Foreign Investment Promotion Agency (FIPA) Milica Marković met with the Consul General of Bosnia and Herzegovina in Istanbul Siniša Mihailović to discuss the possibilities for continuing cooperation on the promotion of the BiH investment potentials for Turkish businessmen.

FIPA signed a Memorandum of Cooperation with the Investment Office of the Presidency of the Republic of Turkey in Ankara on March 16, 2021, with the aim to support the development of investment’s cooperation between the two countries, to create favourable conditions for improving economic cooperation and to establish direct contacts between business communities in BiH and Turkey.

According to the official data of the Central Bank of BiH, as of December 2019, investments from the Republic of Turkey amounted to 405 million BAM and Turkey is at the 11^th place on the list of countries of the most important foreign investors in BiH.

The interlocutors agree that there is significant space for improving the inflow of foreign direct investments from Turkey, respecting good relations between BiH and Turkey on all basis, and the benefits that BiH offers such as lower taxes, free trade agreements, lower electricity prices and other operating costs.

Director Marković talked with the Director of the Representation of Foreign Trade Chamber of BiH in Istanbul, Tarik Šahman, about their project related to the promotion of the IT and tourism sector in the Republic of Turkey. In this regard, it was agreed that FIPA will participate in the planned events, present opportunities and projects from these sectors, and exchange information and use of promotional materials and sectorial analyses that FIPA does for each sector.

In 2020, the annual growth of exports from BiH to Turkey was registered again, and imports from Turkey to BiH were lower by 7% compared to 2019.