The Ambassador of the People’s Republic of China Visited the CBBH

The Ambassador of the People's Republic of China to B&H, H.E. Wang Fuguo, visited the Central Bank of Bosnia and Herzegovina (CBBH) on February 2, 2011, and talked to the Governor Kemal Kozarić, Ph.D, about the effects of the global financial and economic crisis on B&H, the economic trends in B&H and wider, and the possibilities of enhanced Chinese investment in our country.

Governor Kozarić pointed out that the crisis had a significant impact in B&H, its banking and real sectors, and that the crisis caused the fall in investments, raising unemployment and deteriorating living standards of the population. The banking sector in B&H has remained liquid, however, it has recorded the loss for the first time. The Governor pointed out the fact that one of the biggest problems of the banking sector is the increase of the non-performing loans.

According to the H.E. Chinese Ambassador, large Chinese companies are interested in investing in B&H, especially in road infrastructure and energy sector. Foreign direct investments and job creation, as it has been pointed out, are extremely important for B&H and its exit from the crisis and further development. This is why they expressed joint expectations on bigger presence of   Chinese investments in B&H. The need for improving the political and economic cooperation between B&H and the Peoples Republic of China, as a country being a significant factor in European and world economic trends, was also emphasized.

Public Relations Section