SIGNING OF INVESTMENT PROTECTION AGREEMENT A FOUNDATION FOR ENHANCED COOPERATION

BANJA LUKA, JULY 14 /SRNA/ – The signing of an agreement on the promotion and protection of investments with the Russian Federation will simplify procedures and facilitate business operations for entrepreneurs from Republika Srpska on Russian territory, thereby creating a strong foundation for advancing cooperation and launching new mutually beneficial projects, the Republika Srpska Chamber of Commerce told SRNA.

The Chamber of Commerce emphasized that, as a representative of the business sector's interests, it will provide institutional and technical support in the process of signing the agreement with the Russian Federation.

They noted that Russia is one of Republika Srpska's most important partners.

"This is supported by the fact that last year’s total volume of trade exchange amounted to BAM 86.18 million, which is 0.7% of Republika Srpska's total foreign trade," the Chamber stated.

The Chamber's key priorities will be to elevate business practices to a higher level and increase regional recognition, while their main focus will remain on improving the competitiveness of the economy.

The Ministry of Foreign Trade and Economic Relations in the Council of Ministers has initiated procedures to start negotiations on signing an agreement on the promotion and protection of investments between BiH and the Russian Federation, Minister Staša Košarac announced earlier.

He reminded that the Russian Federation was the largest investor in BiH in 2023.