The Foreign Trade Chamber (FTC) of Bosnia and Herzegovina supports the abolition of the visa regime by the Government of Kosovo for BiH citizens, as this will ease business operations for our companies and enhance economic cooperation, the Foreign Trade Chamber stated for FENA.
They remind that the introduction of visas led to additional costs for companies in Bosnia and Herzegovina related to visa issuance and time lost, resulting in increased business expenses and decreased competitiveness of BH goods and services compared to products and services from neighboring countries that had visa-free regime.
At the same time, from January 2025, BH companies will also feel relief, as they have been forced to use transport services from countries that recognized Kosovo under unfavorable conditions, the Foreign Trade Camber stated.
They emphasize that abolishing the visa regime will facilitate the movement of people and goods, thereby contributing to strengthening economic cooperation between the two countries, especially considering the proximity of the markets and the nature of collaboration in the region, which largely relies on personal meetings and company visits.
In terms of trade exchange, the FTC noted a significant increase in exports from BH to Kosovo over the past two years compared to 2021, along with an annual surplus in trade exceeding 110 million KM. These figures highlight the importance of goods circulation and the relatively good representation of BH products in that market.
In 2023, goods worth 137.89 million KM were exported from BH to Kosovo, while imports from Kosovo amounted to 25.22 million KM.
All economic sectors are represented in exports to Kosovo, with the most prominent export categories coming from the food sector. For many years, BHi has been exporting meat products, confectionery, pastries, chocolate, milk and dairy products, as well as oil and water to this market.
The FTC BiH believes that considering the impact of transportation costs on the total price of each product, the proximity of the Kosovo market should be viewed as an advantage, making BiH products more competitive.
”Since the Kosovo market is part of the CEFTA agreement, allowing for duty-free trade, and there are no significant technical barriers for the placement of goods and services, there is certainly interest from companies in Bosnia and Herzegovina for this market. This is evident in trade exchange, which can be further enhanced,” the FTC BiH stated.