BAKU, Azerbaijan, July 21. Deputy Minister of Foreign Trade and Economic Relations of Bosnia and Herzegovina, Ms. Ljiljana Lovrić, along with a delegation, met with the delegation of the Kingdom of Saudi Arabia, led by His Excellency Abdulaziz Alsakran, Deputy Governor of the Kingdom of Saudi Arabia for International Relations, Trend reports.
During the meeting, it was noted that there are no open issues between the two countries, with mutual respect and appreciation prevailing. However, economic cooperation is not at the level desired by either side.
Bosnia and Herzegovina has a trade surplus with the Kingdom of Saudi Arabia, but its share in the total foreign trade exchange is below 0.5%.
The Saudi Arabian delegation informed that Bosnia and Herzegovina is high on their priority list and presented planned steps. Special emphasis was placed on the formation of a Bilateral Council for Economic Cooperation, in which the Ministry of Foreign Trade and Economic Relations of BiH was invited to actively participate.
The meeting concluded with an agreement to intensify cooperation between the two countries and to restart the procedure for signing an agreement on the promotion and protection of investments, in accordance with new regulations.
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