Great Britain officially left the European Union market a little over a month ago. The BH community on the Island sees Brexit as an opportunity to improve economic relations between Great Britain and our homeland. Boris Johnson’s government has similar thinking when it comes not only to the BH market but also to the countries in our region. This is supported by the fact that the British government has appointed a special envoy for trade for the Western Balkans region for the first time. Martin Vickers, a long-time member of the British Parliament, was appointed to this position.
In order to present and promote the BiH market in Bosnia and Herzegovina, representatives of the BiH community held a meeting with Martina Vickers MP . Due to the circumstances caused by the COVID-19 pandemic, a virtual meeting was held. On behalf of the BiH community in the UK, the meeting was attended by Dr. Anes Cerić, Nermina Webster, Safet Vukalić, Lejla Delić and Rijad Terzić.
Dr Anes Cerić , manager of the BH UK Network, shared information about the community of BiH citizens in the UK and the business environment in Bosnia and Herzegovina. “We are grateful to the United Kingdom for providing assistance to our community when we needed it most. Upon arriving in the UK, we organized ourselves to help ourselves and now we are able to help ourselves and other ethnic minorities. We have successfully integrated into British society, but we have not forgotten our homeland. Since the end of the war, Bosnia and Herzegovina has completely reformed its economy by moving from a planned economy to a market economy. Of course, this transition always brings with it a number of challenges, and some of these challenges are still present in Bosnia and Herzegovina. However, the business environment in BiH has nevertheless improved significantly. The banking system has been completely reformed. Macroeconomic stability has been achieved, we have a stable currency and inflation is one of the lowest in the region. Foreign investors have the same rights as domestic investors (the only exception is the arms and information sector, where the share of foreign investment cannot exceed 49%). In the past period, the inflow of foreign investment into BiH has mostly come through the privatization process of state-owned enterprises. Recently, there have been more and more opportunities for investment “Through concrete investment projects, the Foreign Investment Promotion Agency in BiH (FIPA) has more than 400 concrete investment projects in its database. The BiH diaspora has been the largest and most loyal investor since the end of the war and it will be our pleasure to help British businessmen establish business relations with Bosnia and Herzegovina,” said Dr. Cerić.
Safet Vukalić welcomed the appointment of a trade envoy for the Western Balkans, but it is crucial that revisionism and fascism must not be allowed when creating business agreements in the region. It is also crucial that companies encourage communities from across BiH to work together and promote unity in the culture of their companies. Unfortunately, many people still see BiH as a war-torn country. The perception of BiH needs to be addressed and efforts made to promote the country. This could be done as a campaign showcasing success stories of doing business in Bosnia.
Nermina Webster pointed out that there is a shortage of doctors in the UK, and one way this has been addressed so far is by Bulgaria being recognised as a place where students can train in the medical profession and then return to the UK to work within the NHS. Bosnia is only two hours away and could provide similar opportunities. BiH also has a large number of natural resources to offer. Companies should set up factories in BiH as many people already have the skills needed to provide these services.
Lejla Delić, a Bosnian from London, speaking about the employment opportunities for young people in Bosnia and Herzegovina, pointed out the fact that a huge percentage of young people in BiH speak English and that this potential is underutilized. “Many Bosnians and Herzegovinans really speak English well, and considering that British companies are establishing call centers around the world, companies could consider the possibility of establishing call centers in Bosnia,” said Lejla.
Rijad Terzić referred to medical tourism. Many people who live and work in the UK now travel abroad for medical procedures, where medical procedures and services are performed at a lower cost. Bosnia should be promoted in this area of medical tourism.
Martin Vickers MP thanked those present for the useful information and wished for this cooperation to continue. He expressed the need to exchange information on business opportunities. One of the next plans is to visit Bosnia and Herzegovina with British businessmen after the current pandemic is over. He also supported the proposal to hold an investment conference every year that would bring together British and Bosnian companies. BH UK Network , as the umbrella organization of BiH associations in the UK, has expressed its willingness to host this conference.
We would like to thank Dr Waqar Azma OBE , founder of Remembering Srebrenica and patron of the BH UK Network, and Lord Bourne of Aberystwyth for organising the meeting.
We all agreed that Bosnia and Herzegovina is a beautiful country and offers itself as an excellent location for tourism and a number of business opportunities.
Our lobbying for a better and more economically prosperous Bosnia and Herzegovina continues.
BH UK Network
