KEYNOTE SPEECH OF DR. AKKAN SUVER AT THE 2ND PLENARY SESSION ON THE DAY 2 (SEPTEMBER 28, 2009) OF VIENNA ECONOMIC FORUM, SARAJEVO

Esteemed President,

Ladies and gentlemen,

I salute you on behalf of the Marmara Group Strategic and Social Research Foundation that is settled down in İstanbul.

I would like to thank to the Organization of the Vienna Economic Forum which bring us together in Turkey’ s fellow country Bosnia Herzigovina’s capital, Sarajevo.

I avail myself of this occasion and with your highest permission, I’m going to make a brief tour related to the economical affairs between Bosnia Herzegovina and Turkey.

 Foreign trade between Bosnia Herzegovina was aggregated 117 million Dollars in the first half of 2009. Previous year in 2008, Foreign trade volume was aggregated 597 million dollars and we can comment that economical crisis in the world will affect the Foreign trade between two countries at the end of 2009 and foreign trade volume may decrease 50 % compared to 2008.

There are currently 285 Turkish Company registered in Bosnia Herzegovina and total investments of these companies are 40 million Euroes.

Şişecam purchased a soda manufacturing facility by paying 30 million dollars in Lokovatz on May 4th, 2006 during the denationalization period and invested in the modernization of this facility of 17 million dollars.

Similarly, Kastamonu Entegre purchased Natron Maglaj cellulose & paper facility and started production of kraft

cellulose, kraft paper and kraft bag by 2007. Total making investment to this facility is 60 million Euroes.

Nobel who is a Turkish drug manufacturer started production by 2007 and total investment that Nobel made is 6 million Euroes.

Efes Pilsen company entered Bosnian market with a Slovene origin company Droga settled in Sarajevo.   

Zorlu - Turkey’ s one of the biggest holding company has been producing in Bosnia Herzegovina and exporting its production.

A Turkish company named Kent Elite has been producing cookies and Altin Company has been producing fruit juice.

A precious example to the activities of Turkish businessman is carpet trade in Zenica.

Ziraat Bank - Turkey’ s one of the frontier bank’ s is servicing 7 branches and 14 offices by the name of Ziraat Bank D.D. Sarajevo. The active capital of Ziraat Bank is announced as 80 million dollars.

Projects, from building and restoring apartments to reinforcing the basement and walls of Mostar Bridge, building 13 faculties in a new campus of Sarajevo University etc. were taken on by Turkish contractors.

Turkish goods haven’ t been recognized because of the market and purchasing power is minor in Bosnia Herzegovina.

Turkey and Bosnia Herzegovina collaborate in diverse sectors of industry of defense, steel – iron, textile, wood processing, paper, furniture, leather – leather processing, electronic and food.

I emphasize that the shortage of foreign trade has to be balanced thus Turkey will have a great advantage.

Turkey is 9th biggest investor in Bosnia Herzegovina. We are aiming that Turkey will take place in first three investors in your country therefore we are inviting Turkish businesmen to primarily invest in hydroelectric and energy sector.

Turkish companies will be showing interest to the harbour project which is foreseen to construct in city Neum.  

Turkish businesmen serve and export to both former Yugoslav countries and Europe over Bosnia Herzegovina.

The labor costs in Bosnia Herzegovina is not cheaper than Turkey thus interest to your country may be rised by implementing a private investment incentive policy.

Bosnia Herzegovina is a place that Turkey never ignore. As I emphasized at the begining of  my speech, we have to aim in collaboration to catch the export & import volume of 2008.

If economical crisis can be turned to an opportunity, it may bring positive outcomes. We believe that current economical crise can be overcome by proceeding to the investments.

I’m gladly inviting Turkish businesmen to invest in diverse sectors such as energy, tourism, national resources and harbour projects etc.

Progress and achievements of Bosnia Herzegovina is the primary case that is taken care and paid attention in the

Eurasian Economic Summit that is organized by The Marmara Group Foundation.

I avail myself of this occasion to thank to the organization of Vienna Economic Forum and the Representatives of the Government of Bosnia Herzegovina that organize the forum and bring us together.