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Vukelic says Croatia will encourage investments in Bosnia

MOSTAR, April 11 (Hina) - Croatian Economy, Labour and EntrepreneurshipMinister Branko Vukelic said in the southern Bosnia-Herzegovina townof Mostar on Tuesday the government would encourage Croatian businesspeople to invest in Bosnia's small and medium-size enterprises.
MOSTAR, April 11 (Hina) - Croatian Economy, Labour and Entrepreneurship Minister Branko Vukelic said in the southern Bosnia-Herzegovina town of Mostar on Tuesday the government would encourage Croatian business people to invest in Bosnia's small and medium-size enterprises.

"We want to strengthen and deepen economic relations with Bosnia and encourage business people to invest in Bosnia," Vukelic said after talks with Bosnian Development, Entrepreneurship and Trades Minister Mladen Cabrilo. Vukelic said Croatia's economic cooperation with Bosnia was good, adding that his government would advocate the strengthening of cooperation.

Croatia-Bosnia trade in 2005 amounted to EUR1.7 billion or 12 percent more than in 2004.

Asked about the contesting of the privatisation of Bosnia's biggest oil company Energopetrol and the involvement of Croatia's oil company INA and Hungary's MOL in the privatisation process, Vukelic said he expected a positive outcome.

"Certain difficulties should not cast a shadow on the two countries' good economic cooperation," Vukelic said.

Vukelic and Cabrilo also addressed cooperation with the Croatian Power Company in building a hydro electric power plant in Mostarsko Blato and the Mostar-based Aluminij company in which Croatia holds a 12 percent stake. The talks also focused on Bosnia's joining the Central European Free Trade Agreement (CEFTA).

Cabrilo underlined as extremely significant the establishment of entrepreneurship zones in Croatia that has greatly encouraged small and medium-size entrepreneurship and employment.

Vukelic, who arrived in Bosnia yesterday for a two-day visit, will visit Mostar's Aluminij company later in the day.

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