Business in Bosnia and Herzegovina

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Syllabus of the Subject - Doing Business in Bosnia and Herzegovina. Sarajevo (Course).

1. Introduction to the Republic of Bosnia and Herzegovina (Central Europe)
2. Bosnian-Herzegovinian Economy
3. Doing Business in Sarajevo
4. Bosnian-Herzegovinian Foreign Trade
5. Foreign Direct Investment (FDI) in Bosnia and Herzegovina
6. Access to the Bosnian-Herzegovinian Market
7. Business Plan for Bosnia and Herzegovina

The objectives of the Subject “Doing Business in Bosnia and Herzegovina” are the following:

1. To analyse the Bosnian-Herzegovinian Economy and Foreign Trade
2. To know the business opportunities in the Bosnian-Herzegovinian Market
3. To analyse the trade relations of Bosnia and Herzegovina with the country of the student
4. To know the Bosnia and Herzegovinian Free Trade Agreements
5. To develop a business plan for the Bosnian-Herzegovinian Market

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Description of the Subject: Doing Business in Bosnia and Herzegovina

The Republic of Bosnia and Herzegovina

1. Bosnian-Herzegovinian Capital: Sarajevo
2. Official Languages of Bosnia and Herzegovina: Croatian, Bosnian and Serbian
3. Area of Bosnia and Herzegovina: 51,197 square kilometres
4. Bosnian-Herzegovinian Population: 3.8 million people
5. Type of Government of Bosnia and Herzegovina: Parliamentary Federal Republic
6. Bosnia is a widely decentralised country, comprising two autonomous entities: The Federation of Bosnia and Herzegovina and the Republika Srpska, with a third region, the district of Brčko, governed by the local government
7. Borders of Bosnia and Herzegovina: Croatia, Serbia and Montenegro
8. Independence of Bosnia and Herzegovina: 1992 (Yugoslavia)

Main religions in Bosnia and Herzegovina:

1. Islam (50%)
   1. Bosnia and Herzegovina has not signed the Cairo Declaration on Human Rights in Islam
   2. Fiqh (Islamic Jurisprudence): Fiqh-al-Hanafi
2. Christianity: Catholicism and Orthodoxy (30%)

Bosnia and Herzegovina belongs to the:

1. Western Civilisation (European Economic Area)
2. Central Eurasia Economic Area

Economy of Bosnia and Herzegovina.

1. The Republic of Bosnia and Herzegovina is one of the poorest countries of the former Yugoslavia and Europe; the devastating effects of the Bosnian war (1992-95) still endure. In addition, the long blockade of Serbia and Croatia further hampered the economic recovery
2. Bosnia spend 5 billions of dollars at the end of the war to rebuild its battered economy
3. Bosnia is becoming a market economy
4. Bosnian-Herzegovinian GDP (nominal): 49,874 million dollars
5. GDP per capita of Bosnia and Herzegovina: 8,390 dollars
6. Currency: Bosnia and Herzegovina convertible mark
7. Main Bosnian products: fruit, tobacco, cattle, gold, copper, lead, zinc, coal
   1. In Sarajevo, there are tobacco, furniture, cars and communication equipment industries
8. Main Bosnian companies: B & H Airlines, BH Telecom, Bosnalijek, Energopetrol, Factory of Tobacco of Sarajevo and Sarajevska Pivara (Sarajevo Brewery)

Bosnian-Herzegovinian Foreign Trade.

1. Main Bosnian exports: metals, clothes, wood products
2. Top Bosnian exports destinations: Slovenia (16%), Italy, Germany, Croatia, Austria, Turkey
3. Main Bosnian imports: machinery, chemical products, fuels, food products
4. Main suppliers of Bosnia: Croatia (19%), Germany, Slovenia, Italy, Austria

International Economic Relations of Bosnia and Herzegovina

1. Central European Free Trade Agreement (CEFTA)
2. EFTA-Bosnia and Herzegovina Free Trade Agreement (Switzerland, Norway, Iceland and Liechtenstein)
3. Free Trade Agreement between Bosnia and Herzegovina and Turkey
4. Free Trade Agreement between Bosnia and Herzegovina and Bulgaria
5. Stabilisation and Accession Agreement with the European Union (Western Balkans). EUROMED
6. Trade Preferential System among the Member States of the Organisation of Islamic Cooperation (TPS-OIC)
7. Central European Initiative (CEI)
8. Regional Cooperation Council
9. United Nations
10. Adriatic-Ionian Initiative
11. International Chamber of Commerce
12. Intergovernmental Organisation for International Carriage by Rail (OTIF)
13. Convention Relating to Temporary Admission
14. World Bank
15. World Trade Organisation
16. Economic Commission for Europe (UNECE)
17. International Monetary Fund (IMF)
18. International Rail Transport Committee (CIT)
19. Organisation for Security and Cooperation in Europe (OSCE)
20. Group of States of the European Council Convention against Corruption (GRECO)

Bosnia and Herzegovina is an observer country of the Standing Committee for Economic and Commercial Cooperation of the Organisation of Islamic Cooperation (COMCEC)

Examples of the Subject - Business in Bosnia and Herzegovina:

Bosnia and Herzegovina-Turkey Free Trade Agreement (FTA).

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