Islamabad: Bosnia enjoys quota free market access to European Union and Pakistan should promote trade relations with Bosnia for getting enhanced market share in European countries.
This was said by Nedim Markarevic, Ambassador of Bosnia while addressing business community at Islamabad Chamber of Commerce & Industry.
He said Sarajevo Business Forum being held from May 14-15, 2014 provides a good platform to Pakistani entrepreneurs to meet with their counterparts and they should participate in that forum to explore available business opportunities in Bosnia and through Bosnia into Europe.
He said Bosnia has managed very low inflation rate and high per capita income, which provide sufficient reasons to do business in that part of the world.
He said Bosnia is moving forward to get EU Membership and Pakistan’s enhanced collaboration with Bosnia would provide it great opportunities for enhancing exports to European markets.
He added that business in Bosnia means business with European countries as the strategic location of Bosnia opens up doors to a number of EU countries.
He also highlighted the potential of steel, metals and engineering industries of Bosnia gave a video presentation about business and investment opportunities in his country.
Speaking at the occasion, Shaban Khalid, President, Islamabad Chamber of Commerce & Industry said that Bosnia is an energy rich country especially in the field of hydro and coal and it should cooperate with Pakistan in technology transfer for utilizing abundant coal reserves in Pakistan.
He said the existing volume of bilateral trade between Pakistan and Bosnia is around half million US dollars, which is far below their respective potential. He said both countries should facilitate interactions between their private sectors and encourage frequent exchange of trade delegations to explore all untapped areas of mutual cooperation.
Shaban Khalid said for promoting bilateral trade and economic relations, it is essential that diplomatic missions of both countries should develop continuous interaction with Chambers of Commerce, facilitate exchange of business delegations and cooperate in arranging single country exhibitions as well as introduction of products of each other countries as such measures would prove highly helpful in improving business cooperation between the two countries.
He briefed the Bosnian envoy about the business and investment potential in different sectors of Pakistan’s economy and added that Bosnian investors should explore Pakistan for investment and joint ventures. He assured that ICCI would like to work closely with Bosnian Embassy for bringing private sectors of both countries closer.