Value of Turkish investments in BiH currently exceeds 305 million dollars

The trilateral business forum organized by the Foreign Trade Chamber of BiH in cooperation with the Chamber of Commerce of Serbia and the Turkish Board of Foreign Trade resulted in the signing of an agreement between these three countries, and today discussions were held on improving economic relations between Turkey and BiH, writes the Bosnian news agency Patria.

At the symposium held at the Hotel Bristol, the General Director of Ziraatbank BH, Ali Riza Akbas, told the Patria agency that in the last three years, 120 people from BiH have been employed in their ten branches.

- We have been here for eighteen years, expanding our business and intend to open branches in Herzegovina and the RS. We provide great support to BiH, and since 2012 alone, the Turkish Government has approved 150 million euros in loans that are realized through Ziraatbank – said Akbas.

He particularly emphasized the historical ties between Turkey and BiH, which is one of the additional reasons for Turkey's investment in our country.

- We must also have a greater role in the recovery of the BiH economy, and we will continue to do so. For small and medium-sized enterprises, we have loans of up to 50,000 euros for a period of up to 10 years. We will continue to hire, and that is an indicator that we have the desire to invest and help the BiH economy - concluded Akbas.

The Vice President of the Foreign Trade Chamber of BiH, Ahmet Egrlić, said that such business forums are an opportunity to explore potential difficulties in business between the two countries.

- Here are representatives of institutions and scientists who study problems in business between the two countries. Good relations between countries are not characterized by a business climate and foreign trade exchange to a sufficient extent – said Egrlić.

He also noted the importance of Ziraatbank BH, which has invested the most in the agricultural sector, but also in production.

- There have been new employments. Turkish investments in BiH are mainly in production, they are not at the very top of investments, but they are invested in production and are very significant. I think they could be larger because we have potential, and it is up to us to bring investors closer to get to know each other and find a way to cooperate – said Egrlić.

The Deputy Minister of Economy of Turkey, Ibrahim Senel, in his address analyzed the state of the world economy and provided data that Turkey has risen to 18th place among world economies in the last 10 years, and is 7th in Europe.

Speaking about the economic connection between BiH and Turkey, Senel said that they are bound by a „primordial friendship at a high level“.

- We must work on trade and economic relations, but in a long-term relationship and strengthen the partnership. Our Balkan slogan is „trade without borders“. The free trade agreement we signed testifies to the acceleration of investment relations. We want to invest in agriculture, but also other services such as electronic services and public procurement – said Senel.

He stated that there are currently 28 Turkish investments in BiH worth 305.5 million dollars.

- Through the projects of Ziraatbank, but also other financial institutions, we want to make an additional contribution to employment and the economy. Our relations can also strengthen in the education sector, and we already have two Turkish universities with about 2,000 students. BiH is an important friend for Turkey, and we want mutual progress to a higher level.