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Increase in revenue from wood industry should be a priority

19/11/2018

Montenegro and Bosnia Business Forum in the field of forestry and wood processing, which took place in Sarajevo, was organized by the Chamber of Economy of Montenegro in cooperation with the Foreign Trade Chamber of Bosnia and Herzegovina. Participants presented the forestry and wood processing industry in both countries, the potentials, the current level of cooperation and possibilities for its improvement.

President of the Montenegrin Chamber Vlastimir Golubović said that the possibilities for strengthening business ties in the field of forestry and wood processing are significant.

- The share of forestry and wood processing in the national income is below 1%, so the increase in revenue from this sector should be a priority in the future. In the future, we must work on increasing the number of companies which will base their production programs and business plans on the final production, manufacturing and marketing of products of greater value, the increase in production volume and quality of products exported - said Golubović.

Vice President of the Foreign Trade Chamber of Bosnia and Herzegovina PhD. Vjekoslav Vuković said that the wood industry is very important economic sector of this country. This is the only economic branch of Bosnia and Herzegovina, which has been recoding a surplus in foreign trade for many years. He said that wooden furniture and parts, joinery, prefabricated houses, timber, boards etc. have the highest share in the foreign trade between Montenegro and B&H.

The Forum was attended by representatives of about 30 companies from both countries, the Ministry of Agriculture and Rural Development, the Secretariat for Development Projects of Montenegro and the Federal Ministry of Energy, Mining and Industry of Bosnia and Herzegovina. The Forum was attended by Montenegrin Ambassador Milan Lakić as well.

President of the Montenegrin Chamber also met with the co-owner of the company Hifa-Oil from Tešanj Izudin Ahmetlić and discussed the possibilities for cooperation. Company director Ahmetlić announced that Hifa will open a gas station in Podgorica soon.