Tihic invites Pakistani investors to benefit from Bosnia-EU trade ties
Pakistan Times Business & Commerce Desk

ISLAMABAD: Bosnian President Sulejman Tihic Thursday invited Pakistani investors to exploit the growing peace and liberal investment milieu of Bosnia Herzegovina to access the huge consumer markets of the European Union, North Africa and the United States.

Speaking to a business conference here, the Bosnian President also noted the slow pace of cooperation by the Islamic countries to his country in the post-war era. "After ten years of war, there is now peace in Bosnia and Herzegonina and not a single bullet fired in the last eight years," he told a selected gathering of Pakistani businessmen.

He said the number of international peace-keepers deployed in Bosnia have come down from 60,000 to just 7000 troops. With growing peace, the number of national army has also been cut down to 12,000, the President said.

The Bosnian President said Islamic countries extended help to his country during the war but added, the cooperation in the post-war era was not as expected. He gave a brief overview of the Bosnian economy which, he said, offers growing opportunities for business and investment. Bosnia is the full member of the Council of European Union and is aspiring to integrate itself with the 25- country grouping.

The President said his country has preferential export regime with the EU that allows waives quantitative restrictions and customs and other similar duties. Bosnia also has similar preferential trade regimes with the countries like the United States, Canada, Australia, Japan etc.

Referring to the positive economic indicators, he said the GDP was growing, foreign exchange reserves increasing, and the inflation recording the lowest mark in the region. He said Bosnia was paying its foreign debt regularly and assured full legal and constitutional guarantees to foreign investment.

The President asked the Pakistani businessmen to invest in his country for the mutual benefit and to help the Bosnian people achieve the goals of development and prosperity. "Bosnia has a friendly investment climate and if you (Pakistani businessmen) come to our country, you will be welcomed as friends and brothers," he added.

The Bosnian President recalled the historic brotherly ties between Pakistan and Bosnia and expressed his gratitude for the support it received from Islamabad during their trying moments. "We share common views on the regional and global issues including Iraq, Afghanistan and combating international terrorism," he said. He expressed his country's strong opposition to the scourge of terrorism.

The President said his country had been the victim of war which killed 200,000 people of the country that has a total population of 3.85 million. He also appreciated Pakistan's efforts for peace in the South Asian region.

President Sulejman said his country fully shares the view of Pakistan on the need of making the Organization of Islamic Conference (OIC) more stronger and effective. He hoped his visit would help accelerate the pace of business interaction between the two countries.

Earlier, Chairman Privatization Commission Dr. Hafeez Sheikh gave an overview of the Pakistan's economy that offers unparalleled investment opportunities in the region. He said having an access to the markets of South Asia, China, Central Asia and the Gulf, Pakistan was fast emerging as a regional hub.

Dr Hafeez Sheikh said the reforms introduced by President Musharraf during the past few years have stabilized the economy with GDP recording 6.4 growth in the last fiscal year. He said the exports were on the rise, foreign exchange reserves increasing and, with the stable currency and low inflation rate, Pakistan stood as an idle destination for foreign investment.●