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Bosnia: Overseas Investment

Volume 488: debated on Tuesday 24 February 2009

To ask the Secretary of State for Foreign and Commonwealth Affairs what steps his Department is taking to encourage foreign direct investment in Bosnia and Herzegovina. (244537)

I have been asked to reply.

UK Trade and Investment (UKTI) have a small team, based at the British embassy in Sarajevo, providing tailored support to UK companies wishing to expand their operations in Bosnia and Herzegovina through international trade or investment.

UKTI also provides information and links to useful sources of information, on investing in Bosnia and Herzegovina via the UKTI website

www.uktradeinvest.gov.uk.

The Foreign Investment Promotion Agency (FIPA) of Bosnia and Herzegovina is a state agency whose aim is to attract and maximise foreign direct investment into Bosnia and Herzegovina, and to encourage existing foreign investors to expand and develop their business in the country.

The FIPA offer a range of services to foreign investors and the UKTI team are able to provide appropriate contacts in FIPA for UK companies interested in investing there.

The UK has also been supporting Bosnia and Herzegovina's progress towards the EU. In June 2008 Bosnia and Herzegovina signed a stabilisation and association agreement, an important step on the path to EU accession. Its aim is to a process which promotes stability and transition to a market economy.