Doing business in bosnia and armenia
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14 pages
Doing business in Bosnia and Herzegovina and Armenia2009
Contents 1. Doing business in Bosnia and Herzegovina * Geographical overview………………………………………………………………3 * A general overview of the economic, political, social & business environments…3 * Key economic indicators …………………………………………………………….5 * The country’s imports & exports, its competitive advantages…………………….5 * Cultural awareness when doing business in the country: dos and don’ts………...6 * Where could we do business & how…………………………………………………6 2. Doing business in Armenia * Geographical overview……………………………………………………………….8 * A general overview of the economic, political, social & business environments….9 * Key economic indicators…………………………………………………………….10 * The country’s imports & exports, its competitive advantages…………………....12 * Cultural awareness when doing business in the country: dos and don’ts……….13 * Where could we do business & how………………………………………………..14 3. Comparison of main Indicators………………………………..…17
DOING BUSINESS IN BOSNIA AND HERZEGOVINA
GEOGRAPHICAL OVERVIEW
Bosnia and Herzegovina is a country on the Balkan peninsula of South Eastern Europe with a area of 51,129 square kilometers. Bosnia and Herzegovina is bordered by Croatia to the North, West and South, Serbia to the east, and Montenegro to the South.
1. A general overview of the economic, political, social & business environments.
Economic environment:
The interethnic warfare in Bosnia and Herzegovina caused production to plummet by 80% from 1992 to 1995 and unemployment to soar. With an uneasy peace in place, output recovered in 1996-99 at high percentage rates from a low base; but output growth slowed in 2000-02. Part of the lag in output was made up in 2003-08 when GDP growth exceeded 5% per year. Banking reform accelerated in 2001 as all the Communist-era payments bureaus were shut down; foreign banks, primarily from Western Europe,