Ambassador of Czech Republic Visited the CBBH

Today, February 22, 2007, the Ambassador of Czech Republic in Bosnia and Herzegovina Jiří Kuděla and his Advisor who is also the Head of the Economic Department of Czech Embassy Zbyiněk Peška visited the Central Bank of Bosnia and Herzegovina (CBBH), where they announced the possibility of a significant Czech investment in Bosnia and Herzegovina during the meeting with Governor Kemal Kozarić.

According to the announcement of the Ambassador, the Czech Republic could soon become one of the larger investors in Bosnia and Herzegovina and the potential investors would, as a part of their visit to our country, also visit the CBBH which would present to them macroeconomic indicators. Governor Kozarić stressed the monetary stability as one of the significant factors for investment, since it is a sign that the profit made from investing will not be devalued.

The Ambassador of Czech Republic believes that the peg of Convertible Mark to Euro is one of the best arguments of the CBBH as well as the entire country, and macroeconomic indicators are encouraging, which could be very important to Czech investors. The Czech Republic is the country with the enormous investment inflow which has strengthened its currency, and during the last year it recorded surplus in foreign trade goods exchange.

During the discussion, both parties have stated their wishes for the closer cooperation between the CBBH and the Czech National Bank. Cooperation between these two monetary institutions was present before as well, but it is necessary to make this cooperation more intensive, considering that the CBBH will have more contacts with the European Central Bank (ECB) and central banks of EU member countries in the future.

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Zijada Kovač