Deputy Prime Minister and Minister of Trade, Tourism and Telecommunications Rasim Ljajić and the Minister of Foreign Trade and Economic Relations of Bosnia and Herzegovina Boris Tučić, signed today, in Belgrade, an Agreement on joint appearance on third markets, which should serve as an indication of the direction in which we need to develop relationships in the region.

Deputy Prime Minister Ljajić said that the agreement represents a further step in improving relations between the two countries, adding that Bosnia and Herzegovina is the third largest export market of Serbia and fourth trade partner.

He said that last year, total trade amounted to 1.3 billion euros, of which our exports were 890 million US dollars, and this year it is expected to exceed one billion.

Deputy Prime Minister Ljajić said that the agreement is a contribution to the overall stability in the region and that it sends a message that the Western Balkans are not only a place of conflict, but that the Balkan region can also be a conducive place for investors and investments. He announced that the next step will be the adoption of an action plan which will identify the areas where cooperation could be realized.

Among the areas that are most suitable for joint appearance on third markets, Ljajić has singled out tourism, where Serbia and Bosnia could have a joint offer for visitors from distant countries such as Japan, Korea, the Gulf countries and Russia.

The construction, agricultural and food industry, as well as energy and the automotive industry are also suitable areas for a joint appearance on third markets.

Deputy Prime Minister Ljajić said that the most important thing now for both countries is to improve their infrastructure.

Minister Boris Tučić said that all the countries in the region are competitors to some extent but that this should not prevent us from joining forces and increasing the quality of performance on third markets.

He explained that joining forces is desirable because all these are small countries in the process of transition and reform, and that only together can they conquer big markets such as Russia and China.

Serbia is an important market for Bosnia and Herzegovina, said Tučić, adding that today’s agreement is an indicator in which direction relationships should be developed in the region.

We need to deal more with the economy, and the next step is for trade associations, business associations and companies to get involved in establishing an action plan said Tučić.