Azernews.Az

The relations between Azerbaijan and the Serbian Republic of Bosnia and Herzegovina are developing successfully. This was stated at a meeting between the Azerbaijani delegation headed by Minister of Economic Development Shahin Mustafayev and Serbian Republic president Milorad Dodik in Banja Luka.

An Azerbaijani delegation visited Banja Luka on Feb. 18-19.

The sides discussed the current state of economic relations, prospects of developing cooperation and exchanged views on enhancing cooperation between the two countries in the economic field.

A joint business forum was held during the visit. The Bosnian Serb leader, officials of both countries, as well as businessmen working in the field of industry, agriculture, food production, construction, banking, oil sector, tourism and other areas attended it.

The business forum was organized by the Azerbaijani Ministry of Economic Development, Azerbaijan Export and Investment Promotion Foundation (AZPROMO) and the Ministry of Regional Development and Economic Relations of Bosnia and Herzegovina.

"The business forum and business relations will play an important role in expanding the relations between businessmen," Serbian Prime Minister Alexander Dzombic said at a business forum.

He stressed the significant economic potential of countries, acceptable business and investment climate and urged businessmen for active cooperation.

Azerbaijani Minister of Economic Development stressed the recent development of relations and the importance of developing cooperation with Bosnia and Herzegovina, including the Serbian Republic.

"Political relations between Bosnia and Herzegovina and Azerbaijan are at a high level and are based on the principles of mutual respect and friendship," he said. "Mutual visits of high-ranking officials are important in developing the cooperation."

Stressing the importance of business forums, presentations, exhibitions and other events to create new opportunities for cooperation, expand economic and trade ties, Mustafayev said that this is the second business forum held in a short time between the two countries. Businessmen met in Baku in Oct. 2012.

According to the Azerbaijani State Customs Committee, the trade turnover between Azerbaijan and Bosnia and Herzegovina as of 2012 amounted to $286,940 and reduced by 27.5 percent compared to 2011.