CAIRO – 16 April 2018: Bosnia and Herzegovina Ambassador to Egypt Duško Stojanovic referred that moving the Embassy of Bosnia and Herzegovina to the New Administrative Capital is being considered, especially considering that the Ministry of the Foreign Affairs and other ministries will also be moved to the new capital.
In his statement to the Middle East News Agency, Stojanovic expressed his appreciation for Egypt’s role in helping Bosnia after the conflict in the 1990s, through sending a peacekeeping mission along with other aid to Bosnia.
He praised the improvement of the investment environment in Egypt as it could attract much investment from China, Russia, Germany, and the United States, referring to promising investment potentials when it comes to renewable energy in Egypt.
He stressed that his country is keen to promote cooperation with Egypt in different fields, especially in the economy and trade fields, pointing out that trade exchange between the two countries was estimated at €30 million in the past three years, and it is expected to increase.
He remarked that Bosnia and Herzegovina export wood and paper to Egypt, and import vegetables and fruits from Egypt; there is also a possibility to export meat to Egypt, adding that by signing the Central European Free Trade Agreement (CEFTA), which removed tariffs, Bosnia and Herzegovina could establish joint projects to produce and export products to the third world markets.
He further pointed out that Foreign Investment Promotion Agency (FIPA) signed in 2017 with Egypt a memorandum of understanding to increase investments in both countries and held meetings with Egyptian businessmen to attract more investments to Bosnia. He stressed that Egypt’s investments in Bosnia and Herzegovina focus on small projects to manufacture wood.
The ambassador said that the minister of foreign affairs of Bosnia and Herzegovina will pay a visit to Egypt later in 2018.
Bi-laterial relations grew stronger in 1992 as Egypt was amongst the first countries to recognize the independence of Bosnia and Herzegovina as it was a member in the Peace Implementation Council (PIC), convened in December 1995 to establish peace in Bosnia. Egypt opened its embassy in its capital, Sarajevo, in 1996.
The two countries signed a memorandum of understanding in 1998 to establish political consultations mechanisms, the first round of which was held in Sarajevo in January 2005.