The FIPA Director Milica Marković had a meeting with representatives of the Western Balkans Committee at the Hungarian Chamber of Industry and Commerce, led by businessman Attila Galambos. The committee has about 86 member companies.

At the initiative of the Director, a visit of a business delegation from Hungary and the organization of a business forum in Banja Luka in the spring of next year was agreed, in cooperation with the relevant chambers of commerce and ministries.

It was pointed out at the meeting that Hungary has so far invested around 32 million EUR in BiH, and that there are opportunities for the growth of Hungarian investments in our country. Hungarian businessmen point out that they don’t know much about Bosnia and Herzegovina, and that it is necessary to work on promoting the country in order that the Hungarian public have a true picture of BiH, its investment and tourist potentials.

Director Marković emphasized that BiH is open to all types of economic cooperation, and that the volume of investments and trade exchange between BiH and Hungary is modest and that there is great potential for its growth. She pointed out several sectors that would be interesting for Hungarian businessmen, such as renewable energy sources, the metal processing and automotive industries, the pharmaceutical, chemical and wood industries, and IT and tourism.

Mrs. Marković also met with the Ambassador of Bosnia and Herzegovina to Hungary, H.E. Biljana Gutić-Bjelica. During the meeting, several arguments were presented in favour of reasons for investing in BiH, such as economic stability, preferential export regimes, favourable legal treatment of foreign investors, availability of trained and price-competitive workforce, and good bilateral relations between the two countries.

The Government of Hungary has formed the Investment Program of the Western Balkans, which includes the allocation of non-refundable financial resources to Hungarian companies wishing to invest in the Western Balkans, and it is planned to extend similar incentive measures.