BiH is a signatory of the Central European Free Trade Agreement – CEFTA – that covers a market of over 20 million people. CEFTA includes countries with which BiH has excellent relations and in which citizens of BiH have ease of communication; these countries are Montenegro, Macedonia, Serbia and UNMIK/Kosovo. Additionally, CEFTA also includes Albania and Moldova.
With Croatia’s accession to the EU, BiH has become a neighbouring country to a community of states with the EU market of over 500 million people. The legal framework for trade between BiH and the EU is the Interim Agreement on Trade and Trade-Related Matters. With Croatia’s departure from CEFTA, the BEAR area acquired another locational advantage.
In a wider perspective, BiH has excellent relations and cultural connections with Russia and Turkey, two countries with positive economic trends. Enterprises from these two countries are significant investors in Southeast Europe. Bosnia and Herzegovina has a free trade agreement with Turkey.
For more information about advantages for businesses in Bosnia and Herzegovina, see the online presentation of the Foreign Investment Promotion Agency of BiH: www.fipa.gov.ba