Malaysia and Bosnia eyeing up Free Trade Agreement

Bosnia and Herzegovina is looking to sign a free trade agreement (FTA) with Malaysia will in the next three years.

The country’s Ambassador to Malaysia, Emir Hadzikadunic, said the FTA had been in the works for a while, he said, “There has been no concrete discussion as yet on the FTA and we hope to start negotiations and establish this arrangement soon. We are not satisfied with the existing economic relations between both countries as there is a lot more potential for economic collaboration. Our business ties can be improved and we are working on this,”

He also highlighted the fact that there were several bilateral agreements between both the countries, namely agreements on protecting foreign investors and some taxation agreements.  

Malaysia External Trade Development Corp chief executive officer Datuk Dzulkifli Mahmud said bilateral trade between Malaysia and Bosnia and Herzegovina was likely to grow between 5 and 10 percent this year. Malaysia’s trade with Bosnia and Herzegovina is based on electronics products, processed food, rubber and scientific equipment. Imports included chemicals and chemicals, wood products, textiles, apparel and footwear.

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SOURCE: [The Star]

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