Photo: Dnevni ListDoing Business With Norway
05/07/2010 //
A forum on business opportunities in Norway took place in Mostar on 28 June, 2010, and emphasized the unexploited potential of Bosnia and Herzegovina and the opportunities for increasing business relations between these two countries. At the Mostar Business Forum, “Executive Briefing: Doing Business with Norway”, Ambassador Jan Braathu and several Bosnian-Norwegian companies were present to talk about cooperation between BiH and Norway.
The majority of export products from BiH go to neighboring countries such as Croatia and Serbia, including a limited number of European Union member states. Norway has more than 4000 importers and exporters, and imports 90% of fruit and vegetables. The Norwegian market should therefore be considered as a great opportunity for Bosnian companies to increase trade and build long-term relations.
Today, imports from BiH to Norway amount to 12,8 million BAM (52,5 million NOK), while food imports account to 730.000 BAM. Exports of goods could be significantly increased, as the country has a large agricultural sector, as well as being rich in natural resources such as metals. Many businesses are not aware of the trade agreement (GPS - Generalised System of Preferences) that is meant to encourage and develop relations between BiH and Norway, where exports from BiH to Norway are duty free. It is therefore important to inform companies about this advantageous agreement.
Norwegian importers prioritize long-term trade relationships rather than one-time agreements, and it is therefore important that Bosnian companies focus on organization and productiveness. The country’s location and low prices could serve as an advantage when competing on the trade market.
At the seminar, Ambassador Jan Braathu held a presentation about business in Norway and the many opportunities for Bosnia and Herzegovina. Read the presentation here.