Memorandum signed between BBI’s VIP Business Club and the Indian-Bosnian Business Forum

A Memorandum of Cooperation between BBI’s VIP Business Club and the Indian-Bosnian Business Forum was signed on the 14th of April at BBI Bank in Sarajevo. The aim of the Memorandum is to improve cooperation between Bosnia and Herzegovina and India in the fields of economy, trade and investment. The Memorandum was signed by Azra Colic, Head of BBI’s VIP Business Club, and the President of the Indian-Bosnian Business Forum, Sudhir Navalakha, who stressed the importance of strengthening business relations between the two countries. 

Colic stated that India is one of the countries of focus at this year’s Sarajevo Business Forum (SBF) as it is a nation with great achievements in the IT sector as well and in tourism and other predominant industries.

Inviting Indian Investors to take part in the upcoming Forum, Colic stated, “We expect continued cooperation in the IT and tourism sector as well as successful contributions to the development of the Bosnian and regional economies as it is well known that the SBF conference emphasizes the idea of ‘one region, one economy.’

Navalakha stated that in cooperation with the Ambassador of BiH to India, Sabit Subasic, and the Honorary Consul of BiH in India, Suhas Mantri, initiative is being actively taken to link business opportunities between the two countries. Both the Ambassador and the prominent businessman were present at the signing of the Memorandum. As a result of this cooperation and engagement, a large delegation from India currently resides in BiH. They have already attended several meetings with Bosnian officials and businessmen and are only the precursor to the numerous Indian delegations that are expected to attend the 8th annual Sarajevo Business Forum.

Suhas Mantri also emphasized the numerous partnership possibilities between India and Bosnia and Herzegovina. He also underlined that need to actively promote BiH in India by stating, “Interest in business cooperation has already been expressed in several different industries and the Memorandum should only contribute to facilitating the establishment of relations between BiH and India. India is one of the fastest growing economies in the world and is currently among the seven most successful global economies.  It is the second largest economy with regards to the automotive industry and the production of vehicles and parts.”

“As Honorary Consul of BiH in India my task is to connect business opportunities as well as trade and tourism between the two countries” said Mantri adding that great opportunities exist particularly in the areas of infrastructure, IT, the pharmaceutical and defense industry, real estate, the automotive industry, tourism, hydroelectricity as well as other significant economic sectors. 

Ambassador Subasic added that the Sarajevo Business Forum, which is organized annually by BBI Bank, has become recognized as an event that brings together businessmen and enthusiast alike.  “I believe that the Indian delegation’s visit to Bosnia and the signing of the Memorandum is only the beginning of an intense collaboration that will have its specific impulse at the Forum in May,” said Subasic.

All details regarding the largest regional business and investment conference can be found on our website at