Hyderabad: Southeast European country Bosnia and Herzegovina are looking to attract more investments from India even as it bets on getting its European Union membership soon. The country, which attained independence in 1995 from the Socialist Federal Republic of Yugoslavia, has had a very long history with India since Indira Gandhi became the Prime Minister. Now, with the projection of it becoming member of EU soon, the country is hoping to increase its investment from the country in various industries like tourism, hospitality, hydro power electricity generation, defence, automotive, chemical and food processing.
Speaking to reporters at a seminar organised by The Federation of Telangana & Andhra Pradesh Chambers of Commerce and Industry (Ftapcci), Sabit Subasic, Ambassador of Bosnia and Herzegovina said, “We are a small country with a rich history of multi ethnicity and religion and are considered to be a developing nation.
We have a lot of industries in the country that are witnessing the much-needed growth. Some of the areas that are doing economically well are tourism and this industry in our country is one of the fastest growing in the world. Our country has 1,000 rivers and this makes the country good potential for exporter of electricity through hydro power. We have only used 40 per cent of our potential in this and we are already exporting to the EU.”
Subasic also added that the country has 60 per cent forest making it a great exporter of furniture to many countries. Industries like chemical, automotive, defence are growing in the region and there are many international defence companies that have set up space in the country. “We export our defence to almost 60 countries globally,” he informed.
With bilateral trade between Bosnia and India standing at $60 million last year, the Ambassador hoped that this will see a significant jump in the coming years and ensured that investors investing in Bosnia will invariably get to invest in the EU in five years.