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The UAE delegation met with officials from Bosnia and Herzegovina.
Dr Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, led a delegation of leading UAE trade and financial officials to Bosnia and Herzegovina to identify strategic opportunities for Emirati businesses in the region and build stronger trade and investment links with this growing trade and investment Investment links important economic regions.
Al Zeyoudi held a series of bilateral meetings with Bosnia and Herzegovina’s ministers and senior government officials to identify potential areas of cooperation between the two countries. These included a meeting with Borjana Kristo, Chair of the Council of Ministers, to discuss the latest developments in global efforts to combat climate change, and to explore potential bilateral trade opportunities with Stasa Kosarac, Minister of Foreign Trade and Economic Relations.
Al Zeyoudi also witnessed a speech by Bosnia and Herzegovina’s Foreign Minister Elmedin Konakovic, in which he presented leading projects in the country’s high-growth industries such as agriculture, healthcare, metals, oil and construction.
Following the initial meeting, discussions took place with representatives of the Bosnia and Herzegovina Foreign Investment Promotion Agency (FIPA) to promote direct UAE investment in the country, as well as with Vjekoslav Vukoslav and Ahmet Egrlic, Vice-Presidents of the Bosnian Chamber of Foreign Trade and Herzegovina, HE Al Zeyoudi highlighted the UAE’s role as a leading logistics hub that can support the country’s agriculture, manufacturing and auto parts exports.
On May 17th, Dr. Thani opened the 12th Sarajevo Business Forum, addressing business leaders, entrepreneurs and investors at one of the most important investment events in South Eastern Europe. The annual event, organized by Posner Bank International (BBI), showcases more than 200 investment projects in emerging areas such as energy efficiency, electric vehicles, energy storage, technology and communications.
In his opening remarks, Al Zeyoudi heralded the UAE’s thriving economic relationship with Bosnia and Herzegovina and highlighted the potential for both parties to deepen their relationship. “Bosnia and Herzegovina is a country full of promise. Its strategic location ensures that it serves as an important bridge between Central and Eastern Europe, with its attractive investment climate, pro-growth policies, highly skilled workforce and ongoing push for EU membership This position has been further enhanced by the efforts of the UAE. It is also an emerging trade and investment partner of the UAE, with bilateral non-oil trade reaching US$50 million in 2022, a 50% increase from 2021 and more than double the 2020 total. Our Foreign direct investment has now exceeded US$170 million.
“However, there is a lot of room to improve these numbers. Events such as the Sarajevo Business Forum provide an ideal platform for our business leaders and investors to meet potential partners and learn about high-growth industries to ensure we maximize The opportunities this exciting region of Europe offers. I look forward to the new projects and partnerships that this visit will forge,” he added.
Bosnia and Herzegovina was joined by a number of UAE representatives, including Nabila Al Shamsi, the UAE’s non-resident ambassador to Bosnia and Herzegovina. Mohammed Obaid bin Majid Al Alili, Director General, Ministry of Industry and Economy, Fujairah; Abdullah Saeed Humaid Al Nuaimi, Board Member, Ajman Chamber of Commerce and Industry; Abdul Aziz Ahmed Rahma Mohamed Al Muhairi, Board Member, Dubai Islamic Bank and Director, Posner International Bank President; Salem bin Ahmed Al Nuaimi, Ajman Chamber of Commerce and Industry; Sultan Mohamed Al Matrooshi, board member, Fujairah Chamber of Commerce and Industry; in addition to representatives from the Abu Dhabi Department of Economic Development (added).
Dr. Thani bin Ahmed Al Zeyoudi recently held bilateral meetings with senior ministers and officials from various countries around the world during the 12th Annual Investment Conference (AIM Global 2023) in Abu Dhabi. The discussions aimed to underscore the UAE’s commitment to developing trade and investment ties to achieve long-term, sustainable growth, secure vital supply chains, and increase the UAE’s non-oil foreign trade to US$1.09 trillion (40,000 billion dirhams).
Dr Thani Al Zeyoudi from the Arab world met Kholoud Al-Saqqaf, Minister of Investment of Jordan, a country with deep ties to the UAE and a member of the Tripartite Industrial Partnership for Sustainable Economic Growth with Egypt, which received a $10 billion investment fund. Dr Al Zeyoudi also held talks with Lebanon’s Minister of Economy and Trade Amin Salam and Dr Haider Muhammad Makiya of the Iraqi Investment Authority to identify investment priorities, with the UAE sharing $2.8 billion in bilateral non-oil trade with Lebanon in 2022, the two most important Arab economies.
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