GREAT POTENTIAL FOR COOPERATION WITH ISRAELI BUSINESSES

BANJA LUKA, SEPTEMBER 2 /SRNA/ - The opening of the Israel Chamber of Commerce in Banja Luka will provide an important boost to strengthening economic relations, attracting new investment and enhancing cooperation in sectors with the greatest development potential, the Republika Srpska Chamber of Commerce told SRNA.

The Chamber of Commerce said that Republika Srpska has potential for cooperation with Israel in a number of areas, primarily information and communications technology, energy, agriculture and the food industry, health technologies, tourism, infrastructure and various branches of the manufacturing industry.

Israel's experience in developing innovative technological solutions, digitalizing business operations, managing resources and improving productivity is particularly valuable and could also benefit Republika Srpska's economy.

"The opening of the Israel Chamber of Commerce in Republika Srpska represents an important step towards strengthening economic relations, while the establishment of a direct institutional channel of communication between the business communities is particularly important for Republika Srpska's economy," the Republika Srpska Chamber of Commerce said.

The Chamber of Commerce said that a direct institutional channel of communication would contribute to closer ties between companies, the exchange of knowledge, experience and technology, and the implementation of joint investment and development projects.

"Israel is recognised as one of the leading countries in the fields of innovation, high technology, agriculture, water resource management, energy and startup development. We therefore expect the opening of this representative office to contribute to the organisation of business forums, B2B meetings and more concrete forms of cooperation between businesses in Republika Srpska and Israel," the Chamber of Commerce said.

The Republika Srpska Chamber of Commerce has previously been in contact with representatives of Israeli companies and investors who expressed interest in investing in Republika Srpska, particularly in the energy, real estate, agriculture and new technology sectors.

"Regardless of the current volume of foreign trade and investment, we believe there is significant room for growth," the Republika Srpska Chamber of Commerce said.

The Republika Srpska Chamber of Commerce is continuously working to internationalise the domestic economy and open new markets for local companies.

In this regard, the Chamber believes that any new institutional link that facilitates business contacts, attracts investment and enables the exchange of business information represents added value to the economic development of Republika Srpska.

A ceremony to mark the establishment of the Israel Chamber of Commerce in Republika Srpska is scheduled to be held in Banja Luka tomorrow.