MALAYSIA TO BOOST TRADE WITH BOSNIA
SARAJEVO,Bosnia - Malaysia and Bosnia are prepared to review certain policies to help boost trade.The Malaysian Prime Minister Datuk Seri Abdullah Ahmad Badawi said the main objective was to facilitate the implementation of any economic agreement.
“If there is a need to make some adjustments to these policies, it is only proper that both the governments do so,” he said at the end of his two-day official visit to Bosnia.
Abdullah said the potential sales from the Malaysia Business Forum was testimony to the commitment of both parties.
The sales, involving power transmission and distribution products, came about during the 192 business meetings between 28 Malaysian and 147 Bosnian company representatives.
A short visit with productive results was how the Malaysian Prime Minister Datuk Seri Abdullah Ahmad Badawi described his just-ended two-day visit to Bosnia.
At the leaders’ level, he said, it was clear that they wanted the existing cordial relations the two countries enjoyed be further strengthened, especially in the economic sector.
“I wish to see a stronger Malaysian economic presence in Bosnia,” he said.
“The relations are at best and friendly level of co-operation,” said Abdullah’s counterpart Nikola Spiric.
Abdullah’s concern stemmed from the very low economic activities between the two countries despite their warm ties.
Bilateral trade between Malaysia and Bosnia was just under US$2 million last year, with Malaysia exporting electronics and electrical products, and imported mainly furniture and aluminium.
Abdullah’s wish for a stronger Malaysian economic presence in Bosnia signalled Malaysia’s continued commitment towards the development of the Balkan state before, during and after the 1992-1995 Serbian,Montenegrin and Croatian aggressions against Bosnia.
After 12 years, Bosnia, with a population of four million people, is still in the process of rebuilding the country and its economy.
The presence of 59 Malaysian businessmen during the visit was welcomed and there was an encouraging sign as 192 meetings were held on the first day alone between the business community of the two countries.
Abdullah listed the potential areas for Malaysian businessmen to form strategic alliances with their Bosnian counterparts.
They include construction of roads, highways and power plants which would help the country realise its ambition to become a net exporter of power to the region.
Malaysian businessmen could also explore opportunities in the telecommunications sector as Bosnia had liberalised its communications sector.
Education and tourism are other areas they could venture into.
In driving home both the governments’ commitment in facilitating the business community’s efforts in developing this country, they would do whatever they could to help them.
“Whatever economic agreements and policies that need to be introduced or amended, we will do it,” said Abdullah, who is also Finance Minister.
As proof of the governments’ commitment, the agreement on the Avoidance of Double Taxation and Prevention of Fiscal Evasion with Respect to Taxes on Income were inked between the two governments during the visit.




