ISRAELI COMPANY PLANS TO RELOCATE PRODUCTION TO SRPSKA

BANJA LUKA, JULY 9 /SRNA/ – The President of the Republika Srpska Chamber of Commerce, Goran Račić, says that an Israeli company plans to relocate its production to Srpska in the near future, representing an investment of 15 million Euros, which will enable the employment of between 120 and 150 workers.

Račić emphasized that Serbia is the largest investor in Republika Srpska, accounting for 51 percent of investments, and noted that the incentives implemented by the Srpska Government are yielding significant results. “This is an investment in the economy and the future,” Račić said. He has added that the United States is currently not a significant foreign trade partner to the extent that it could have a major impact on employment in Republika Srpska. “However, the fact that we have foreign trade exchange with the United States is welcome, and we must strive to bring the issue of customs duties into focus for resolution within the Council of Ministers,” Račić stated, adding that most exports to the U.S. are from the defence industry. Račić told the press in Banja Luka at a reception marking the establishment of the new leadership of the Republika Srpska Chamber of Commerce, that the priorities of the new leadership are economic competitiveness, digitalization of public administration, creation of measures for industrial production, and continuation of the incentive system. He also stated that the Chamber faces many challenges and tasks related to raising business operations to a higher level, aiming to make the Chamber the most recognised in the region. “In the coming period, we will be more present in the field, visiting all cities and municipalities in Srpska and talking with leading businesspeople to create specific measures that we will propose to the Srpska Government for inclusion in the 2025–2027 economic reform programme,” Račić said. He also highlighted that the Republika Srpska Chamber of Commerce is supported by more than 300 companies employing over 17,000 workers, with a turnover exceeding BAM three billion last year. The reception was attended by the Minister of Trade and Tourism of Republika Srpska, Denis Šulić, the Minister of Economy and Entrepreneurship of Srpska, Vojin Mitrović, representatives from Željka Cvijanović’s office, and representatives of local communities in Srpska.