Bosnia and Herzegovina has a significant potential for economic cooperation, and the country has created a favorable environment for investment in various areas of the industry, the Chairman of the Presidency of Bosnia and Herzegovina Bakir Izetbegovic said during the Business Forum in Baku.
"One of the most promising sectors for investment is the electric power sector," Izetbegovic said. "In addition, we will soon be going to join NATO and the European Union, so this is a good period to invest in Bosnia and Herzegovina."
Minister of Economic Development Shahin Mustafayev in turn said the visit of the President of Bosnia and Herzegovina to Azerbaijan - a major step in the development of relations between the countries.
Intergovernmental agreements signed in Baku will also affect the development of cooperation between Azerbaijan and Bosnia and Herzegovina. The Business Forum will also examine new areas of bilateral cooperation," he said.
Azerbaijan Export and Investment Promotion Fund (AZPROMO) and the Chamber of Commerce of Bosnia and Herzegovina signed a memorandum of understanding in the frame of the forum.
Three more documents - the Agreement on Cooperation in the field of education between the Ministry of Education of Azerbaijan and the Ministry of Civil Affairs of Bosnia and Herzegovina, the Convention on the avoidance of double taxation on income and property, and prevent cases of tax evasion, and the Agreement on the abolition of visas for holders of diplomatic and service passports were signed in the frame of the visit.
The business forum was attended by more than 70 representatives of companies operating in different sectors of the economy of Azerbaijan and Bosnia and Herzegovina.