Thursday, 26 May 2022
WorldBosnia holds 11th Sarajevo Business Forum

Bosnia holds 11th Sarajevo Business Forum

BELGRADE, Serbia

The Bosnian capital, Sarajevo, hosted the 11th Sarajevo Business Forum (SBF) with Turkey at the center of the event.

Dubbed “Davos in the Balkans”, the event will focus on expanding regional economic cooperation and attracting international investment to Southeastern Europe with the participation of delegates from 33 countries.

Turkish Trade Minister Mehmet Mus was one of the keynote speakers at this year’s event.

Minister Mus in his remarks said the Balkans as a region could outperform other regions if they collaborated with companies from Turkey and other countries.

“Located next to the European Union, the Balkan countries can win from other regions,” he said.

“The Balkans will be one of the regions that will benefit from a reorganization of global distribution chains, as companies move their production closer to the largest markets,” said Mus.

From the point of view of geographical position, the Turkish minister emphasized the importance of distribution chains for global companies and global trade.

In terms of international cooperation and trade, he sees the Balkans as a gateway to Europe and its markets, while Turkey as a gateway to Asia and the Middle East and their markets.

Slovenian President Borut Pahor in his speech said political stability in the Western Balkans is still a condition for prosperity and economic progress.

“Without political stability, there is no economic prosperity. The task of the political leaders of this beautiful country is to organize the country constructively and create investment opportunities,” said Pahor.

He added that he had suggested to many European leaders that Bosnia and Herzegovina be granted candidate status without additional preconditions.

“Now there are fourteen conditions that Bosnia has to meet. My idea is to give Bosnia that status without those preconditions, and then the Bosnian authorities fulfill those conditions.”

“After Russia’s invasion of Ukraine and the change of atmosphere in the EU, I think we need to do it. Let us take this real opportunity to discuss the status of Bosnia and Herzegovina. This is very important for peace and stability throughout the region,” Pahor added.

More than 1,000 people are expected to attend the Sarajevo Business Forum, which has been suspended for two years due to the Covid-19 pandemic.

This event will promote regional investment projects in manufacturing, agriculture, energy, education, finance, infrastructure, construction, service sector, tourism and other sectors.

On the occasion, Bosnian Bank International (BBI) Board Member Nedzad Gusic said the main theme of SBF is “Nearshoring – a Perspective for the Region”, which presents the potential of European companies to relocate manufacturing to southeastern Europe.

He said Bosnia and Herzegovina and other Southeast European countries were in a position where foreign companies would relocate or set up their production centres.

“On this occasion, the country’s economy will improve, new jobs will be created, and thus the migration of young people will be prevented,” said Gusic.

On the first day, the Sarajevo Business Bridge Awards were presented to successful entrepreneurs in a ceremony.

Anadolu Agency became the global communications partner for the two-day business conference.

Nearly 300 projects from Bosnia and Herzegovina, Croatia, Serbia, North Macedonia, Montenegro and Albania will be showcased at the event and sponsored by BBI, Ministry of Economy of the Canton of Sarajevo, Islamic Development Bank, Dubai Islamic Bank, and Abu Dhabi Islamic Bank among others.

The forum, created with the aim of turning the region into a single economy, expects a record number of participants this year.

This event has been held since 2010 as part of a collaborative effort between Bosna Bank International and the Islamic Development Bank based in Jeddah.​​​​

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