Memorandum of Understanding between Czech Development Agency and Ministry of Foreign Trade and Economic Relations of BiH



Within the Business Forum between Bosnia and Herzegovina and the Republic of Czech, a Memorandum of Understanding was signed between the Czech Development Agency and the Ministry of Foreign Trade and Economic Relation of BiH on the implementation of the project called “Support to the application of free trade movement principals and increase of safety for products being introduced to the market in Bosnia and Herzegovina”. On behalf of MoFTER BiH the Memorandum was signed by Minister Mirko Sarovic, and on behalf of the Czech Development Agency by Mr. Tomáš Szunyog, Ambassador of the Czech Republic. Other members of the Czech Delegation were Minister of Trade and Industry of the Czech Republic Martin Kuba, and Mr. Petr Kužel, President of Chamber of Commerce of the Czech Republic, who arrived to BiH together with fifty Czech businessmen. They met with President of the BiH Foreign Trade Chamber of Commerce Bruno Bojic and with about sixty BiH businessmen.

“Today's signing of the Memorandum is a framework for what we have been doing since 2010. The Memorandum should provide support to and affirm free trade, especially support to BiH for product quality in BiH and the support that the Czech Republic continuously provides for quality infrastructure in BiH,” said Minister Sarovic.

“In the long term, the Czech Republic sees BiH as a business partner and supports all its steps in the process of integration and accession to the European Union”, Minister Kuba said. He also stressed that the Czech Republic has been financially assisting BiH and that in addition to that assistance Czech businessmen should seek out some joint projects in BiH.

"For this reason, there are here today 50 representatives of various companies that have good experience when it comes to energy, transport infrastructure, and environmental protection." Minister Kuba noted.

The President of Chamber of Commerce of the Czech Republic, Mr. Petr Kužel stressed the need to increase the volume of investments when it comes to investments in BiH.

The President of the BiH Foreign Trade Chamber of Commerce Bruno Bojic stressed that BiH has good political relations with the Czech Republic and that Czech investors should not be afraid to invest in Bosnia and Herzegovina. He pointed out that the signing of the Memorandum would bring trust, better communication and would enhance trade exchange between Bosnia and Herzegovina and the Czech Republic.

“The volume of foreign trade, which amounts to about BAM 200 million, in reality does not correspond to our friendly relations and our capabilities," said Mr. Bojic and encouraged Czech investors and businessmen to come to Bosnia and Herzegovina.