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BBI and BH Consortium returned from working visit to Azerbaijan

Representatives of Bosna Bank International and BH Consortium which was recently formed in Sarajevo have returned from their 3-day trip to Azerbaijan. BH business delegation was made of executives from Euroasfalt, Hidrogradnja, Sirbegovic Group, Sipad Komerc, Tehnograd, Eltra, Demag Cranes –Fining, Graphic Company BlitzDruck and Professor Faris Gavrankapetanovic, director general of the Kosevo Clinical Centre of the University of Sarajevo. Delegation led by BBI travelled to Azerbaijan in order to attend the International investment conference in Baku which was held on 21-23 June. During the visit Bosnian delegation held numerous talks with Azerbaijani authorities in charge of economic, financial and business affairs.
Cooperation Agreement between BBI and the International Bank of Azerbaijan (IBA) was signed on this occasion. The Agreement will enable cooperation between the two banks in the extent of 20 million convertible marks (KM). BBI and IBA agreed to widen the scope of their cooperation by reaching preliminary agreement to accept direct LC and LG guarantees between the two banks to enable Bosnian companies to have access to banking transactions in Azerbaijan and other CIS countries, once they establish their presence in Azerbaijan.
During their visit to Baku members of the BH Consortium met with officials of Chamber of Commerce and Industry of Azerbaijan with whom they discussed and agreed on the most effective ways of establishing business cooperation. Chamber of Commerce and Industry of Azerbaijan welcomed the decision of BH Consortium to set up its permanent office in Baku promising to offer their assistance.
During the visit of Bosnian delegation to ANT Group – one of the largest construction giants in Azerbaijan -  involved in construction of large projects in several countries in the region, including Russia, ANT offered BH Consortium to take part in joint ventures with ANT in Azerbaijan.
The best opportunity BH Consortium sees for itself in Azerbaijan is the proposed construction of the 'White City' – the whole new business district on the coast of Caspian Sea. This ultramodern mega project will be spread over 220 hectares of land with its own underground railway system. In addition, BH Consortium has been offered a chance to participate in the construction of a large number of industrial sites as well, due to the fact that Azerbaijan's current growth rate is measured at 9.3 percent and that the oil production is recording a sudden increase.
BH Consortium was established on the platform of Sarajevo Business Forum -  the international investment conference held in April this year and organized by Bosna Bank International. This important international business endeavor of BH Consortium received full political support by the Chairman of BH Presidency dr. Haris Silajdzic who, on this occasion, even sent his personal envoy to Baku to accompany the business delegation.

 

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