BiH to reach 70 % of Export – Import Coverage?

August 31, 2018 7:00 AM

BiH can achieve the export – import coverage in the amount of 70 % in a few years, said the Minister of Foreign Trade and Economic Relations of BiH Mirko Sarovic at the panel conference “The Challenge of Exports”, which is organized by “Business Magazine (Poslovne novine)” within the project “100 largest in BiH”.

Sarovic also recalled that last year’s exports from BiH amounted to more than 11 billion BAM, and that the export – import coverage amounted to 61 %.

“It was only 45 % a few years ago. I think that our goal should be 70 %, which we can achieve in a few years and it will give us a greater opportunity to develop and our social product will be larger” said Sarovic.

According to him, the shortage of money in BiH is compensated by foreign currency remittances of citizens who live abroad, i.e. remittances are compensating the imbalance that exists in imports and exports.

Sarovic noted that BiH must enable all of its companies to survive in a free trade, i.e. to be more competitive.

Director of the Sector for Macroeconomic System of the Foreign Trade Chamber of BiH Momir Tosic recalled that, despite the difficult business environment, BiH managed to export meat and milk as well as to open some new markets, such as Russia.

(Source: Sarajevo Times)

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