FIPA Activities

The FIPA Director participated in the work of the 1st session of the Joint Commission for Economic Cooperation between the Republic of Serbia and B&H

3/20/2013

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The FIPA Director participated in a two-day 1st session of the Joint Commission for Economic Cooperation between the Republic of Serbia and Bosnia and Herzegovina, which was held in Belgrade on 18th and 19th March 2013.
 

 The Joint Commission will work on implementation of the Agreement on Economic Cooperation between the Council of Ministers of B&H and the Government of the Republic of Serbia signed the 2009.

The development of mutual trade and economic relations with the aim to intensify the overall economic cooperation and improving foreign investments was analysed within this meeting.

The possibilities for intensifying cooperation in the domains as trade, investment, agriculture, transport and communications, cross-border cooperation, cooperation in the field of small and medium enterprises, and cooperation at the third markets were also analysed.

It was underlined the importance of the joint activities on the promotion of investment potentials, as on a bilateral basis, but also within the framework of international and regional initiatives.

Serbia is a very important economic partner of B&H and the second major investor in B&H with a participation of 17.4%. The most significant investments of Serbia in the country are related to the telecommunications sector, manufacturing and banking sectors.

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“.

 

FIPA Activities

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