MCCI organized an Interactive Session with His Excellency Dr. Sabit Subasic, Ambassador of Bosnia & Herzegovina in India (BiH) on 28 March, 2018 at Conference Hall of the Chamber.
Bosnia located at the South-Western Europe has high potential in hydro-power and sought partners. India’s trade with BiH jumped from 55 million Euro in 2015 to 71.2 million Euro in 2016. Shri Sanjay Agarwal, Hony. Consul of Bosnia & Herzegovina in Kolkata & Past President of MCCI said that Bosnia is a beautiful country and has high potential for tourism from India.
Dr. Sabit Subasic informed that Bosnia has VAT rate of 17 p.c. which is lowest compared to Euro area. The repatriation of profits by the foreign investors is also permissible. 85 p.c. of the products from BiH is exempted from all taxes when exported to European Union which makes the product origninated from BiH very competitive. The foreign investors rights are well protected and invited Indian investors to work with Bosnia in the fields like wood products, textiles, food processing besides hydro-power.
On a query from the members, Dr. Sabit Subasic invited the Indian Film Industry to explore the exotic locations for shooting their films which will also boost the tourism in Bosnia.
Shri Ramesh Agarwal, President, MCCI , felt that there is enough scope to explore trade and investment opportunities between India and Bosnia.