Bosnia- Business Opportunities
The Consul General of Bosnia, Mr. Sudhir Navalakha accepted the Honorary Membership of Global India Business Forum, in the presence of Deepali Gadkari, Global Coordinator, Madura & Bhakti Jamdagni. Realizing Strengths of Global India Business Forum and Consulate of The Republic of Bosnia and Industries and conscious of the benefits to be derived by both organizations and its members through this mutual understanding, both parties associated with each other to cooperate with each other in facilitating mutual investment, trade and economic cooperation complimented by knowledge sharing, training, certification and networking.
Bosnia and Herzegovina, simply called as Bosnia, is a country located in South and Southeast Europe and is located within the Balkans. Sarajevo is the country’s capital and is also the largest city. The country shares its borders with Serbia, Montenegro and Croatia. The country is not a completely landlocked one as there is a narrow coast of the Adriatic Sea in the south which is around 20 km. long. The country has hot summers and cold and snowy winters, while the topography of Bosnia is quite diverse. Some parts of the country are mountainous, while some areas are moderately hilly and there are flat lands in some parts of the country too. The current population of Bosnia currently stands at 32,80,819. The country has three main ethnic groups which are the Bosniaks, the Serbs and the Croats. The country is a developing one and it currently ranks 75th on the Human Development Index. The major sectors that help the Bosnian economy grow are agriculture and industry, followed by tourism and service sectors. The country also has a universal healthcare system and the primary and secondary education is tuition-free. Bosnia is a member of the UN, Organisation for Security and Co-operation in Europe (OSCE), Council of Europe and the Central European Free Trade Agreement and is also the founding member of the Union for the Mediterranean, which was established in the year 2008.
Business Opportunities in Bosnia
One of the main sectors that contribute towards Bosnia’s growth is the agriculture sector. There are a lot of business opportunities in this sector for other countries as other countries can invest in the agro-based infrastructure to help strengthen the sector of Bosnia. Since Bosnia is a developing country, there are a lot of infrastructure problems faced by the country. Hence, there is a lot of scope for other countries to invest in the infrastructure sector of the economy, thereby contributing towards the growth of the Bosnian economy.
Exports and Imports in Bosnia
Exports of Bosnia decreased from BAM 9,43,302.53 thousand in October 2020 to BAM 9,06,145.11 thousand in the month of November 2020. Meanwhile, imports of the country decreased from BAM 1465904.85 in the month of October 2020 to 14,27,039.02 thousand in November 2020.
Top Exports of Bosnia
The following are the top exports of Bosnia are Mineral fuels like oil, Furniture, Wood, Footwear, Aluminium, Electrical Machinery and Equipment and Iron and Steel articles. The top export partners of the country are Germany, Italy, Croatia, Slovenia, Serbia, Austria and Turkey.
Top Imports of Bosnia
The top imports of Bosnia are Crude oil, Automobiles, Motor oil, Coal, Briquettes, etc. The top import partners of the country are Croatia, Germany, Italy, Serbia, China, Slovenia, Turkey and Austria.