Foreign trade between BiH and Turkey amount to 1.1 billion KM annually

Foreign trade between BiH and Turkey amount to 1.1 billion KM annually

SARAJEVO, August 26 (FENA) – Turkey is one of the most important foreign trade partners of Bosnia and Herzegovina, and cooperation between the two countries has been constantly growing in the past period.

In recent years, BiH’s foreign trade with Turkey has averaged around 1.1 billion KM annually. The exchange in 2019 amounted to 1.12 billion KM, and in 2020 to 1.09 billion KM.

For seven months of this year (January-July), according to the data of the Foreign Trade Chamber of BiH, the volume of exchange was around 763 million KM. BiH’s exports to Turkey in that period amounted to KM 184.64 million, while at the same time imports from that country were KM 578.43 million.

Regarding BiH exports to Turkey in the first seven months of this year, iron and steel worth KM 70.6 million have been exported, followed by furniture, bedding and mattresses worth KM 18.55 million, and fats and oils worth KM 18.22 million.

When it comes to the import of BiH from Turkey, in the first place are nuclear reactors, boilers and machines worth 66.72 million KM, then plastics and plastic products 50 million KM, and clothing and clothing accessories worth 48.43 million KM.

In July this year, the amended Free Trade Agreement with Turkey entered into force, which was signed in May 2019 in Ankara, and which should contribute to strengthening cooperation between entrepreneurs of the two countries.