On May 11 and 12, the 11th Sarajevo Business Forum 2022 was held in Sarajevo, which attracted around 1,550 domestic, regional and global representatives of governments, ministries and business people from nearly 40 countries around the world. A record number of projects were registered this year. During the two-day business-investment conference, 313 project presentations were presented, and over 400 B2B meetings were held. The 11th SBF was followed by over 240 media representatives from the countries of the region and the world.
The forum was opened by the member of the Presidency of Bosnia and Herzegovina Željko Komšić and the President of the Management Board of Bosna Bank International Alek Bakalović. Komšić expressed the need for political and business cooperation between the countries of the region, and Bakalović said that domestic businessmen need know-how and access to foreign markets, and that the concept of “nearshoring” is an opportunity to attract foreign investments. On behalf of the Strategic Partner of the 11th SBF In 2022, the Minister of Economy of the Canton of Sarajevo, Adnan Delić, addressed the audience, pointing out that for the long-term growth and development of the Canton of Sarajevo and the State of Bosnia and Herzegovina, a healthy and strong economy is necessary, which is based on the production and development of entrepreneurship, attracting investments, as well as establishing and strengthening public – private partnership.
Regional economic integration of the countries of the Western Balkans was defined on the first day of the Sarajevo Business Forum as the most effective solution for our region. The President of the Republic of Slovenia, Borut Pahor, once again emphasized the importance of joint cooperation between the countries of Southeast Europe, and called on the political leaders of the region to constructively organize and create new opportunities for investments. Pahor is also an advocate of the accession of Bosnia and Herzegovina to the European Union.
“I believe that Bosnia and Herzegovina should receive candidate status without preconditions, and after that the authorities of Bosnia and Herzegovina should fulfill all 14 preconditions for joining the EU. There is a lot of work ahead, but this is doable and realistic, and there is political will in Brussels. I know that this is a bold move, and it goes beyond the framework of established dynamics, but this is my call to the EU and the leaders of this country,” said the President of Slovenia, Borut Pahor.
The EU’s special representative in BiH, Johann Sattler, said that the EU is responsible for all issues of BiH and the region, and that we should think about how to take advantage of business opportunities, despite the disagreements and problems that this country is facing. And the Minister of Economy and Sustainable Development of Croatia, Davor Filipović, stated that in times of economic crisis, it is the common duty of the countries of the region to find a solution and to strengthen economic ties in the region, and that the economic cooperation of the Western Balkans is one of the key preconditions for the economic prosperity of the region. Mehmet Muş, the Minister of Trade of the Republic of Turkey emphasized the importance of the concept of “nearshoring” for the Balkan region, and emphasized the regional partnership of the countries of the region, because the Balkans are close to the West, but also to Asia and the countries of the Middle East.
On the first day of the 11th SBF, experts from the region and the world talked about the economic, social and economic recovery after the Covid-19 pandemic, but also the opportunities for a turnaround that can help the region and BiH in future development. Those present were addressed by Stjepan Mesić, former President of the Republic of Croatia, Zoran Zaev, former Prime Minister of the Republic of North Macedonia, Šekib Avdagić, President of the Istanbul Chamber of Commerce (ITO), Ahmet Albayrak, Executive Vice President of Kuveyt Turk Bank, Sandrine Friscia, Representative of the European Investment Bank for Bosnia and Herzegovina and Montenegro, Zain Al-‘Abidin ibni Tuanku Muhriz, founder and president of the Institute for Democracy and Economic Relations (IDEAS) from Malaysia, Orhan Aydin, board member of the Ankara Development Agency and member of the Higher Education Council TOBB, member of the High Advisory board of OSBÜK and member of the executive board of ÜSIMP, and Dr. Murat Yülek, founder and rector of Ostim Technical University.
Mesić said that the Western Balkan region is dependent on investments from other economies, but it is also dependent on joint political and business cooperation, and that the countries of the Western Balkans should look for opportunities and strengthen economic and political cooperation. Zaev also called for regional cooperation and supported the process of creating a single market in the Western Balkans.
The second day of the Sarajevo Business Forum 2022 took place through thematic panels and business B2B meetings. Chris Barton, the United Kingdom (UK) trade commissioner for Europe said that the whole world is focused on starting new investments, economic recovery and raising the economic standard. The potential of “nearshoring” in the countries of the Western Balkans was presented in a study by the Vienna Institute for International Economic Studies. Four panels were held: “Perspectives of Nearshoring”, “The Power of Tourism for Economic Development”, “The Role of Public-Private Partnership and Knowledge Transfer in the Private and Public Sector” and “Islamic Finance in Achieving Sustainable Development Goals”.
In the panel “European nearshoring experience”, the participants presented their own experiences, and the advantages of investment and reallocation of production were defined.
