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Hungarian, Bosnian business representatives meet in Budapest

A delegation of representatives of companies in Bosnia and Herzegovina met with Hungarian business people in Budapest on Wednesday.

Economy Ministry state secretary Ábel Garamhegyi said Bosnia-Herzegovina could be a good target for Hungarian investments, especially in the environment, construction, agriculture and tourism industries. Haris Basic, who heads the Bosnian Investment Agency (FIPA), said Bosnia and Herzegovina’s fast expanding economy, low labor costs and favorable taxes make it a good place to invest.

FDI in Bosnia and Herzegovina rose to €1.6 billion in 2007 from €562 million in 2006. Hungary is the 13th biggest investor in the country, bringing in €12 million, Basic said. Bilateral trade between Hungary and Bosnia and Herzegovina increased to €357 million in 2007 from €285 million in 2006 according to FIPA figures. (MTI-Econews)