The European Union fully understands the huge development potential of the Herzegovina Region, as well as its competitiveness and its thriving business and entrepreneurial culture, Boris Iarochevitch, Charge d’Affaires at the EU Delegation to Bosnia and Herzegovina, said during the opening session of the Herzegovina Region Business Community’s Economic Forum.

The conference, which explored the region’s development trajectory, looking in detail at “comparative advantages, problems and assumptions,” was held in Mostar on 31 January. It was organised by Mostar City Mayor and the Regional Economic Development Agency for Herzegovina – REDAH, and chaired by Mostar Mayor Ljubo Bešlić. Entrepreneurs and mayors from throughout Herzegovina took part.

Speaking to journalists, Mr Iarochevitch said that in Bosnia and Herezegovina issue of politics has sidelined essential economic issues.

“This has to stop,” he said. “It’s high time to focus on the economy. The European Union is involved in the BiH reform process; Croatia, next door, has made good progress and we want Bosnia and Herzegovina to follow this path.”  

A member of the German Bundestag, Josip Juratović, also a Vice-Chairman of the German-BiH Cooperation Committee, took part in the conference. Among other things, he pointed out that because of inadequate BiH’s regulatory environment for business promotion, German business sector has still been relatively passive about investing in Bosnia and Herzegovina.

The discussion focused on the large number of young people now entering the local job market, which means that municipalities must start lobbying for more investment  and retaining the young professionals – with initiatives flowing from the region to the national level.

Mayor Bešlić said the conference should be taken as an effort to contribute preventing a further economic decline of the Herzegovina region in order to stimulate European investment and make use of the region’s enormous economic potential.