Trade Cooperation of BiH with China increased 100 Percent under “One Road One Belt” Initiative

April 17, 2019 6:15 PM

Bosnia and Herzegovina (BiH) is part of the largest Chinese Initiative “One Belt One Road” in which China has put more than 100 billion euros for various projects at its disposal.

“Trade cooperation with China has reached 700 million euros, an increase of 100 percent compared to the previous period, and for a small country, such as Bosnia and Herzegovina, significant success has been made. Over the past period between the two countries, important agreements have been signed for improvements of the economy, such as agriculture and veterinary agreements, and our country was first enabled to export food of animal origin to China,” it was stated during the meeting of Minister of Foreign Trade and Economic Relations of BiH Mirko Sarovic and newly appointed ambassador of China to BiH Ji Ping in February this year.

Under this Initiative, a visa liberalization agreement has been signed, which has already put Chinese tourists in the fifth place, since some 100,000 tourists from this eastern country are expected to visit BiH next year.

At the meeting, it was noted that great foreign trade volumes have been made in the last four years in BiH’s foreign exchange trade, and that exchange with China has been increased by 100 percent.

The Initiative represents a chance for numerous projects in energy, infrastructure and agriculture to be implemented in BiH, which will be done in the forthcoming period, was stated in April this year at a meeting of BiH Presidency Chairman Milorad Dodik and the President The Chinese Bank Cen Siking. In Bank of China, which is the most important bank in the country, with 58 subsidiaries worldwide, 18 of them in Europe, are interested in helping projects that are important to BiH and can be done directly or through established subsidiaries.

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