Organized by the Ministry of Foreign Affairs of Bosnia and Herzegovina and the Ministry of Foreign Affairs of the Kingdom of Saudi Arabia, as one of the outcomes of talks held during the official visit of Bosnia and Herzegovina's Minister of Foreign Affairs Elmedin Konaković to the Kingdom of Saudi Arabia in August this year, the first in a series of webinars dedicated to enhancing bilateral relations and economic cooperation between Bosnia and Herzegovina and the Kingdom of Saudi Arabia was held on December 11, 2024. The meeting aimed to identify business opportunities, explore possibilities for foreign investments in Bosnia and Herzegovina, and present the country's export and trade potentials.

 

The Webinar was attended by representatives of the Ministry of Foreign Affairs of Bosnia and Herzegovina, the Embassy of Bosnia and Herzegovina in Riyadh, the Ministry of Foreign Trade and Economic Relations of Bosnia and Herzegovina, the Ministry of Foreign Affairs of the Kingdom of Saudi Arabia, the Ministry of Investment of the Kingdom of Saudi Arabia, the Ministry of Commerce of the Kingdom of Saudi Arabia, the Embassy of the Kingdom of Saudi Arabia in Sarajevo, as well as state agencies from both countries tasked with presenting, assessing, and implementing opportunities for investment, imports, exports, and economic development. Bosnia and Herzegovina was also represented by officials from the Foreign Investment Promotion Agency (FIPA), the Foreign Trade Chamber of Bosnia and Herzegovina, the Foreign Investors Council of Bosnia and Herzegovina, and the Export Promotion Agency of Bosnia and Herzegovina.

The Ministry of Investment of the Kingdom of Saudi Arabia presented key sectors for investment in Saudi Arabia, initiatives from the "Vision 2030" program, and opportunities for potential investors from Bosnia and Herzegovina. Specific sectors of interest for Saudi investors in Europe, including Bosnia and Herzegovina, were highlighted.

The Foreign Investment Promotion Agency of Bosnia and Herzegovina (FIPA) showcased the country’s key development potentials, such as the defense industry, telecommunications, infrastructure, tourism, renewable energy, agriculture, food production, the IT sector, and others. The Ministry of Foreign Trade and Economic Relations of Bosnia and Herzegovina initiated discussions on the topic of a bilateral investment protection agreement, focusing on the legal aspects of negotiations and agreements between the two parties. Bosnia and Herzegovina's export and trade potentials were presented by the Export Promotion Agency, while the Foreign Investors Council of Bosnia and Herzegovina highlighted positive examples and experiences of foreign investments in the country to date.

One of the main conclusions of the webinar was that the strong and friendly relations between Bosnia and Herzegovina and the Kingdom of Saudi Arabia provide a solid foundation for promoting economic growth and development in both countries. Participants agreed to continue organizing similar events to intensify cooperation and implement concrete projects of mutual interest. During the meeting, expectations were expressed for additional activities in 2025, aimed at attracting new investments and further strengthening economic relations between Bosnia and Herzegovina and the Kingdom of Saudi Arabia, including the participation of business delegations from both countries in events such as the Makkah Halal Forum 2025, the Sarajevo Business Forum 2025, and others.

The Ministry of Foreign Affairs of Bosnia and Herzegovina plans to organize a series of similar initiatives in the field of economic diplomacy in the coming period, in cooperation with interested states, with the aim of accelerating economic growth and development in Bosnia and Herzegovina and ensuring sustainable development by maximizing the country's investment potential.