Bosnia and Herzegovina
Membership in EU:
Political system:Republic
Capital city:Sarajevo
Total area: 51 209 km²
Currency:Convertible mark (BAM)
Economy | Business Protocol | Legislative and Political System | More about the Country | Order a Business Information Report (BIR)
Economy
Statistical Office

Chamber of Commerce and Industry

Entrepreneurship in the Country

During recent years, Bosnia and Herzegovina has made a considerable progress into the market economy. The basis for economic reforms was established, including the unique customs system, the adjustment of tax policy and the process of privatization. In 2008 and 2009 a major step ahead was also made in a construction sector, as a result of some larger projects in energetic and infrastructure sectors. The industrial production, stimulated by the increase of capacities of the leading producers in the metal industry, has also been growing.
Business Directories

Local Communities

Business Protocol
Business Negotiation

There is no single best way to do business in Bosnia and Herzegovina. New entrants to the market will most likely be displacing /supplanting nearby suppliers, such as Croatia and Serbia, as well as dominant EU member country exporters. Of course, a regional strategy can build on existing trading patterns and customers, if the market does not justify a full-time presence.

 

Sales agents, representatives and distributors all have important roles to play in this market. Regardless of which channel is selected, sales support and after-sales service are critical. Financing is a key factor for a Bosnian company, making a decision to take on a new product line.

Legislative and Political System
President

Government

Prime Minister

Ministries

Constitutional Court

Legislation

More about the Country
Geographical Characteristics

Bosnia and Herzegovina (BiH), located on the Balkan Peninsula, was part of the Socialist Federal Republic of Yugoslavia. It is bordered by Croatia to the north and west, Serbia to the east, Montenegro to the southeast and a few kilometers of Adriatic Sea coastline, centered in the city of Neum, to the south.
Languages

Bosnian; also Croatian and Serbian.
Short History

Bosnia and Herzegovina has been inhabited at least since the Neolithic age by the tribes known as the Illyrians, which were the first known tribe on this territory and the predecessors of the present Albanians. Until 9 AD the whole territory was conquered by the Roman Empire, but after the schism of Christianity to Western Roman Catholicism and Eastern Orthodox Church the border first drawn around 285, was lined directly through Bosnia.

Bosnia and Herzegovina gained its sovereignty in 1992, following the fall of Yugoslavia. After the national war the country developed into a democratic republic with market-oriented economy. Today it is a potential candidate for the European Union membership and NATO (North Atlantic Treaty Organization).

Time Zone

GMT/UTC + 1
International Dialing Code

+387
Average Temperatures

July 22 0C, January 0 0C.
Opening Hours of Banks

Monday - Friday: 8.00am – 7.00pm.
Opening Hours of Post-Offices

Monday - Friday: 8.00am – 5.00pm.
Opening Hours of Shops

Legally permitted opening hours:

 

Monday - Saturday: 8.00am – 8.00pm.

Credit Cards

Credit cards are accepted in Bosnia and Herzegovina in cities and holiday resorts. The most common credit cards, such as American Express and Visa are accepted in hotels, restaurants and shops.
Foreign Currency Exchange

Apart from the banks, foreign currency can be also exchanged in exchange offices, hotel receptions, tourist agencies, petrol stations and larger department stores.
Mobile Telecommunications

The country is almost entirely covered by mobile telephony signal. The main operators have concluded contracts with larger European and world operators. Mobile phones in the country are designed to function within the network of frequency bands 900 MHZ and 1800 MHZ. You can host in the following mobile networks: GSM BIH, Mobilna Srpske, HT Mobile.
Emergency Telephone Numbers

Police

122

Medical emergency

124

Fire emergency

123

Population of the State

Population of the Capital

Demographics

Religion

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