Daily news and analysis from Qatar and Middle East – Arabian Gulf
The agreements signed between Qatar and Bosnia and Herzegovina “would open new horizons” for co-operation in a wide range of sectors, a high-ranking government official has said. Speaking at the Qatari-Bosnian Business Forum held at the Qatar Chamber headquarters yesterday, Dr Denis Zvizdic, the chairman of the Council of Ministries of Bosnia and Herzegovina, said the four agreements recently signed between the two countries would open new horizons for co-operation in the education, pharmaceutical, and trade sectors.
Similarly, the twinning of the cities of Doha and Sarajevo would create a positive impact on the tourism sectors of both the countries, Zvizdic pointed out. To boost economic co-operation with Qatar, Zvizdic invited Qatar Chamber and representatives of Qatari companies to explore investment opportunities in the fields of agriculture, medicine, and tourism. Qatar Chamber board member Ali Abdullatif al-Misnad, who spoke to reporters on the sidelines of the meeting, said the Chamber is “very keen” to send a business delegation to the European country.
He said Qatari businessmen are willing to invest in other sectors like food, renewable energy, banks, and other industries, referring to several successful Qatari investments in Bosnia and Herzegovina. “They have also made doing business in Bosnia very easy for Qatari businessmen, which is why we welcome the invitation of Dr Zvizdic,” al-Misnad said. Figures provided by Qatar Chamber showed that trade volume between the two countries increased from $2.9mn in 2016 to $4mn last year. Qatari imports in 2017 stood at $1.8mn, while Qatari exports amounted to $2.2mn.
Major Qatari imports from Bosnia and Herzegovina in 2017 include textiles and apparels; medical, dental or surgery equipment; plywood and veneer panels; electricity motors and generators, tools and equipment; school articles and stationary made of plastics; and articles of iron and steel. On the other hand, major Qatari exports to Bosnia and Herzegovina in 2017 comprise of unwrought aluminium, Qatar Chamber said.
Zvizdic also lauded the efforts exerted by the state of Qatar in support of his country during the past years. He said cooperation agreements signed in the fields of economy, trade, investment promotion and the prevention of double taxation are vital in strengthening both the countries’ economic and trade co-operation. The visits and meetings held in Doha aim to lay the foundations and developing mechanisms to attract more Qatari investments to Bosnia and Herzegovina and to increase the volume of trade exchange between the two countries, which, he said, does not exceed several million dollars now. Zvizdic expressed the hope that volume of trade exchange between the two countries would reach higher levels in the coming years.
Sources and photo-credits: Gulf Times