Business circle hails Bosnia wood industry potential

SARAJEVO, Bosnia and Herzegovina

A round table on the wood and wood processing industry was held at the Sarajevo Business Forum (SBF) on Thursday.

Participants discussed the potentials, possible investments, and challenges that the producers face in the industry as well as developments and the benefits.

Amir Coralic of the Swedish Chamber of Commerce for the Balkan country, said that Bosnia and Herzegovina's wood processing industry is one of the best in the region.

"… and this industry has developed significantly over the past several years," said Coralic.

Aleksandar Mededovic, from the Turkish-German Chamber of Commerce, shared his experiences in the both coutries.

Medevoci said that many entrepreneurs from the Balkan countries want to work with German companies.

He advised linking with potential partners in order to transfer the production to Bosnia and Herzegovina, not just focusing on trade.

Muzaffer Cilek, the founder of the Turkish furniture manufacturer Cilek, advised how to offer quality products, unique design and reasonable prices on the market.

Cilek said that new generations are focusing on branding and original design and the importance of participating in fairs.

Participants agreed that Bosnia and Herzegovina has great potential in wood industry and with the right investments it can benefit the country.

The 10th edition of the forum opened Wednesday with Turkey playing a prominent role.

Dubbed the "Balkan Davos", the event focuses on expanding regional economic cooperation and attracting international investment to Europe’s southeast.

Turkey's Vice President Fuat Oktay featured among this year's speakers.

Slovenian President Borut Pahor, Malaysian Prime Minister Mahathir Bin Mohamad and members of the Presidency of Bosnia are also attending the event.

The forum aims to unite the region under a single economy with the slogan of "One region-one economy".

The forum has been held since 2010 in a collaborative effort by Bosna Bank International and Jeddah-based Islamic Development Bank.

Anadolu Agency has served as the global communication partner of the forum for the last seven years.