Bosnia and Herzegovina exported goods worth 9.5 billion marks to the European Union countries in the first nine months of this year, which is 73 percent of total exports, according to official statistics. The metal processing sector is leading in exports, and every year more and more domestic companies are upgrading and improving their production in order to be able to export to the European market.
The European Union is Bosnia and Herzegovina’s largest export market, and domestic companies export a wide variety of products, from wires and cables to food products and even entire prefabricated buildings and facilities.
“We started with smaller houses. As the company developed, so did it grow. Now we are building various facilities, the most demanding in wooden construction, we are building multi-storey buildings, sports halls, hospitals because we have invested a lot in market development, in certificates for the markets and we have reached a serious level, as far as our industry in Europe is concerned,” says Mihailo Stevanović, director of the Bijeljina-based company for the production and export of prefabricated buildings.
Bosnia and Herzegovina exported goods worth 9.5 billion marks to the European Union countries in the first nine months of this year, which is 73 percent of total exports, statistics show.
“In economic terms, the European market and the European Union form the backbone of our business, the work of Bosnian and Herzegovinian companies, foreign trade, and on the other hand, the largest number of investments coming to Bosnia and Herzegovina are still from EU member states,” says Enes Ališković, director of the Export Promotion Agency of the Foreign Trade Chamber of Bosnia and Herzegovina.
Bosnia and Herzegovina’s accession to the European Union would open up a wide range of new opportunities and benefits for domestic manufacturers, Ališković adds.
“It would enable Bosnian and Herzegovinian companies to export easier and cheaper, reduce customs and technical barriers, but also increase competitiveness in the market itself, which exceeds 500 million consumers,” he believes.
While they wait to join the European Union, economists believe that BiH companies could achieve much greater export potential through association and joint action.
“Large companies are the only ones that can produce a final product that can withstand market competition. We need to fundamentally change our economic system. Up to 96 percent of our companies have up to five employees,” warns economist Aleksa Milojević.
Experienced exporters from our country emphasize that investing in professional staff and quality is key for domestic companies.
“We started investing in our technical part, technical staff, on time. We went a few steps further, now we have hired consultants from Germany. And, of course, we have very, very good engineering staff,” says Mihailo Stevanović.
The backbone of exports is the metal processing sector, but also the wood industry, and most of these products go to Croatia and Germany, while we import most from Italy, Germany and Croatia.
