Košarac: Emirates interested in investing in Republika Srpska

17.11.2023

Staša Košarac, Minister of Foreign Trade and Economic Relations in the Council of Ministers, held talks yesterday in Abu Dhabi with the State Minister of Economy and Trade at the Ministry of Foreign Affairs of the United Arab Emirates, Ahmed el Sajeg, regarding potential UAE investments in Republika Srpska and the Federation of Bosnia and Herzegovina. There was expressed interest in the energy, agriculture, industry, and tourism sectors.

The meeting discussed strengthening cooperation and improving foreign trade between BiH and the UAE, as well as the benefits of joining BRICS, given that the Emirates will become a member of this union in early 2024.

Košarac emphasized support for BiH’s membership in BRICS, with Republika Srpska endorsing the initiative. Unfortunately, the Federation of BiH does not have a positive stance on this issue.

Sajeg stated that BiH will have full political and economic support from the Emirates if it becomes a BRICS member, according to a statement from the Ministry of Foreign Trade and Economic Relations in the Council of Ministers.

Košarac and Sajeg welcomed the decision to abolish visas for citizens of BiH traveling to the Emirates, considering it a significant step in improving cooperation in tourism and connectivity, alongside existing direct air routes between the two countries.

A particular focus of the discussion was on signing an agreement to enhance and protect investments between BiH and the Emirates. It was noted that the agreement text is in the final stages of alignment, and its signing is expected in the first quarter of the next year.

Košarac and Sajeg exchanged views on opening new markets for the placement of domestic products, emphasizing the signing of free trade agreements.

The meeting was attended by the Ambassador of BiH to the UAE, Bojan Đokić, and the non-resident Ambassador of the Emirates for BiH, Nabila el Šamsi.

Košarac is on a working visit to the Emirates, during which he also visited the international event ‘Dubai Airshow,’ as reported by RTRS.

Reasons for Investment

Numerous Incentives

Institutional support, finantial incentives, subventions, tax exemptions - all aim to build better business environment for you.

Rich in Resources

The Republic of Srpska is rich in natural and other significant resources that represent great potential for each investor. No matter the industry.

Geographical Position

Position is important. Good connection with the rest of Europe makes it much easier to build a business in the Republic of Srpska.

Adequate Legislation

Investors in the Republic of Srpska have an equal position as the residents. Aside from that, they have many more valuable benefits.

Touristic Destination

Tourism is a growing industry. The Republic of Srpska is an attractive location for tourists and yearly-growing numbers confirm this statement.

Human Capital

The workforce is a significant factor of success and one of the biggest advantages of growing a business in the Republic of Srpska.