BAKU, Azerbaijan, October 23. Bosnia and Herzegovina has the potential to become a regional trade hub, but this requires not only infrastructure but also modern logistics tools, IRU (International Road Transport Union) President Radu Dinescu said at the Third International Logistics Conference in Sarajevo, Trend reports via the IRU.
The Third Logistics Conference, organized by IRU member AIRH (Association of Road and International Transport of Bosnia and Herzegovina), brought together industry leaders and international experts to share experiences in implementing innovative logistics solutions across various sectors.
"Bosnia and Herzegovina can become a regional trade hub with the right combination of infrastructure and 'soft measures,' given its strategic location. Instruments based on international and regional standards, such as the TIR transit system, can have a huge impact. They can be the deciding factor between a route that is efficient and safe and one that is not," Dinescu said in his opening speech.
The speech emphasized that the global TIR system reduces border transit times by up to 92 percent and lowers transport costs by up to 50 percent.
"Given the new opportunities offered by evolving trade corridors, I urge you to consider these tools to improve logistics efficiency in Bosnia and Herzegovina," Dinescu explained.
According to the IRU, the discussions also focused on global trends shaping trade and transport, including the rapid development of the Middle Corridor and the Iraqi Development Road, while both routes are redefining overland connections between the Middle East, Türkiye, and Europe.
"The EU accounts for almost 65 percent of Bosnia and Herzegovina's trade. But as a gateway country to the EU and with ambitions to become a regional trade hub, Bosnia and Herzegovina must also look east, given the growing trade volumes entering Europe via Turkey, the Middle Corridor, and the Iraqi Development Road," said Dinescu.
These developing corridors will open up new opportunities for Bosnia and Herzegovina to take a key position in East-West trade.
To note, the Middle Corridor is a trade and transport route linking Asia and Europe, passing through several countries in the region as an alternative to the traditional Northern and Southern Corridors.
The route starts in China, passes through the Central Asian countries of Kazakhstan, Uzbekistan, and Turkmenistan, then crosses the Caspian Sea and covers Azerbaijan, Georgia, and Türkiye before reaching Europe.
The International Road Transport Union (IRU) is the global organization for road transport, advocating for the interests of the whole sector, encompassing bus, coach, truck, and taxi operators. Established in 1948, it aims to advance sustainable transportation and enhance trade by providing safe, efficient, and environmentally friendly transport services. The IRU represents over 3.5 million enterprises in over 100 countries and promotes the interests of its members through activities such as establishing standards, facilitating trade, and campaigning for supportive laws.
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