The International Business Forum (IBF) of the Independent Industrialists and Businessmen Association (MÜSİAD) has begun in Sarajevo, the capital of Bosnia and Herzegovina.

The opening programme of the forum, organized in cooperation with the Foreign Trade Chamber of Bosnia and Herzegovina, was attended by Sefik Dzaferovic, the Bosniak member of the Presidency Council of Bosnia and Herzegovina, and Minister of Trade Ruhsar Pekcan, as well as Bosnia and Herzegovina’s Minister of Foreign Trade and Economic Relations Mirko Sarovic, AK Party Deputy Chairman Numan Kurtulmuş, MÜSİAD President Abdurrahman Kaan, MÜSİAD Founding President and IBF Chairman Erol Yarar, İstanbul Chamber of Commerce (İTO) President Şekib Avdagiç, MÜSİAD officials and a large number of business people.

Within the scope of the forum, attention was drawn to the trade and investment potential of Bosnia and Herzegovina, one of the most attractive investment centres for the EU market. At the event held in Bosnia, the opportunities in seven sectors — food, agriculture and livestock, tourism, construction, health, metal and automotive, furniture and forest products — were evaluated. At the event, which also featured B2B meetings, the MÜSİAD Bosnia and Herzegovina representative office was opened. The organization also drew attention to the fact that Bosnia and Herzegovina has duty-free trade agreements with EU countries, and it was emphasized that Bosnia could serve as a duty-free gateway into the EU in trade for the business world.

Türkiye’s Aim Is to Ensure the Security and Peace of the Region

Delivering the opening speech of the programme, President Abdurrahman Kaan made statements regarding Operation Peace Spring, which Türkiye launched in northern Syria against the YPG/PYD, the extension of the terrorist organization PKK. Pointing out that Türkiye’s fundamental aim in the operation was to ensure the peace and security of the region, Kaan emphasized that the perceptions created in European and world public opinion to the effect that the operation was being carried out against our Kurdish brothers do not reflect the truth.

It Offers Attractive Opportunities

Drawing attention in his speech to the great opportunity that Bosnia and Herzegovina offers Turkish business people, Kaan said: “That the International Business Forum, whose 23rd edition we are witnessing this year, is being held in Bosnia and Herzegovina carries great spiritual value for us. On the other hand, the trade and investment potential of Bosnia and Herzegovina adds further meaning to our coming together here. The country offers business people many privileges in sectors such as food, agriculture, livestock, tourism, construction, health and furniture. Within the scope of the IBF, sectoral meetings will be held that will draw attention to all these privileges and advantages. I would like to state that I find the organization particularly valuable in terms of our business people obtaining detailed information about Bosnia and Herzegovina and becoming acquainted with the new business and investment opportunities in the country.”

Having a Say Is Directly Proportional to Having Knowledge

Noting that today having a say in the economic and political arena depends on possessing the source of knowledge, Kaan said: “In the 20th century, the countries and companies that owned oil fields and that produced, processed and traded oil held the power. In the 21st century, however, we speak of the power of countries and companies that possess the source of knowledge, that produce knowledge and trade in it. Therefore, obtaining information in the commercial, technological or financial sense and gaining an advantage in matters such as investment, R&D, production and competition is an issue we must address with seriousness. This process, which we may describe as an economic information network, means the transfer of the most accurate and most useful information at the most accurate time.”

We Are Restructuring Through the Renewal Process

Providing information at the summit about MÜSİAD’s “Renewal Process” as well, Kaan said: “As you know, as MÜSİAD we have launched the Renewal process. A powerful transformation is taking place in the world. In other words, the age we are living in is an important turning point for the future. One of the consequences produced by this transformation in the world is the shifting of economic balances. Alongside it, we are witnessing a struggle for power in the world. Countries are making their future plans accordingly, and states are taking their measures within this framework. As you know, Türkiye too has joined this transformation by changing its own habits of governance. As MÜSİAD, we have likewise launched our own institutional and structural transformations in order to facilitate and accelerate the functioning of the system. We are carrying out this change, which we call Renewal, while remaining faithful to the values we have been committed to for 30 years and to our founding purposes.”

We Came to Bosnia to Give, Not to Take

IBF President Erol Yarar, for his part, stated that the forum, whose foundations were laid 23 years ago in Pakistan, has continued to this day without any interruption, and that its being held in Bosnia and Herzegovina this year is a great joy.

Stating that as individuals they had witnessed the difficult days of Bosnia and Herzegovina, Yarar said: "Today there is an atmosphere of peace in Bosnia. Today in Bosnia we will not talk about war, but about how we can develop Bosnia and what we can give to Bosnia. We will not talk about what we can take from Bosnia. Because we did not come to take, we came to give."

You Will Tell All the Truths

Minister of Customs and Trade Ruhsar Pekcan, emphasizing that Türkiye acted with great sensitivity towards civilians in Operation Peace Spring, said: “We lost 20 of our civilians yesterday. The world press did not see this at all. As business people, the duty of telling the truth falls to you.” Drawing attention to MÜSİAD’s activities, Pekcan said: “New cooperation will develop here. We aim to double the current trade volume with Bosnia and Herzegovina.”

The Trade Target with the USA Continues Unchanged

Touching also on the sanction to be imposed by the USA, Minister Pekcan said: “We have largely completed the infrastructure work for the USD 100 billion trade target set with the USA. We will continue this work. Even if there is a postponement for today, it does not mean that these problems will not be overcome tomorrow.” Stating that the Turkish economy rests on solid foundations, Pekcan gave the message: “Türkiye's own dynamics are enough for it"

Investors Are Happy in Bosnia

Stating that 84 percent of the businessmen who have invested in Bosnia and Herzegovina in recent years are satisfied, the Bosniak Member of the Presidency of Bosnia and Herzegovina, Şefik Caferoviç, said: “Whoever acts early will come out ahead.” Emphasizing that the conditions for domestic and foreign investors in the country are equal, Caferoviç issued an invitation to invest in seven sectors.

Balkan Investment Has Exceeded USD 1.5 Billion

AK Party Deputy Chairman Numan Kurtulmuş, stating that they attach great importance to cooperation with the Balkans, said: “Türkiye’s investments in the Balkan geography have exceeded USD 1.5 billion. One of the important signs of regional development is rising cities. Bosnia is one of the rising cities. We too will all work together to carry this potential even further.”