The Acting Director of the Foreign Investment Promotion Agency of Bosnia and Herzegovina (FIPA) Marko Kubatlija met with the heads of departments at the Directorate for Technological-Industrial Development Zones of North Macedonia, Edin Fakić and Stanka Dimovska.

Mr Kubatlija presented the capacities and results of the existing free zones in BiH, and representatives of TIDZ spoke about the good results of the eight technological-industrial development zones that actively exist in North Macedonia.

Free trade zones in BiH are part of the customs territory of BiH and have status of legal entity. We currently have five zones in Visoko, Vogošća, Mostar, Puračić and Trebinje. Users of the free zone do not pay VAT and import duties on the equipment that will be used for production. Investments in free zones, profit transfer and investment transfer are free.  The free zone establishment is considered economically justified if the submitted feasibility study and other evidence can prove that the value of goods exported from a free zone will exceed at least 50% of the total value of manufactured goods leaving the free zone within the period of 12 months.

Free zones represent an important instrument of the industrial policy of developing countries in achieving economic growth and development and attracting direct foreign investments.

For this reason, Mr Kubatlija proposed the organization of a round table in cooperation with the relevant ministries and the World Association of Free Zones, for BiH municipalities and cities on the importance of free and industrial zones for attracting investments with reference to the current situation, examples from the region and the world, what needs to be done and how to improve the current situation.

TIDZ supported the idea and accepted the invitation to participate with the aim to present the positive practices of North Macedonia.