BUSINESS

Exports of Weapons from Bosnia-Herzegovina hit Records!

 

Exports of ammunition and weapons from Bosnia-Herzegovina last year amounted to 212.93 million BAM, which is about four percent more than in 2018, was explained to Srna news agency by the director of the BiH Chamber of Commerce and Industry Ognjenka Lalovic.

According to Lalovic, most exported to Saudi Arabia – 33.89 percent, Egypt 27.10 percent, Afghanistan 5.73 percent, Turkey 4.54 percent, and Morocco 3.95 percent and the United Arab Emirates 3.04 percent.

Lalovic said that ammunition for military weapons, revolvers and pistols are the most exported, accounting for 90 percent of the export program, while the remaining 10 percent relates to parts for revolvers and pistols and artillery weapons.

“Exports are carried by less than ten companies, which makes these results exceptional. The fact that BiH’s dedicated industry products are marketed in almost 50 countries and on all continents indicates that this industry is highly export-oriented and that every market is important and interesting, “Lalovic noted.

She emphasized that in addition to the increased demand in the world market, the good results were also contributed by the improved business conditions in the domestic market, through the good cooperation of the competent institutions with the economy. According to her, serious modernization and development of BiH’s dedicated industry require investments in research and development, as well as technically equipped staff.

“Without serious investment in scientific research projects, no one, especially this technologically demanding area, can be made a carrier of economic development, regardless of its potential,” concluded Lalovic.

 

 

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