Source: hms.ba
As part of the Third Mostar Economic Forum at the International Economy Fair Mostar 2024, the international conference “EU perspectives for Bosnia and Herzegovina – Experiences of the Republic of Croatia” was held.
The President of the Management Board of the Croatian Bank for Reconstruction and Development (HBOR), Hrvoje Čuvalo, said that today’s forum is an excellent opportunity for the exchange of ideas, opinions and experiences, with the aim of improving economic relations between Croatia and BiH.
– Public banks can have a major role and contribution in these processes. Specifically, HBOR, for example, has supported export projects in BiH worth 126 million euros over the past 10 years, which shows that cooperation is solid – good, but also that there is significant room for progress – Čuvalo told journalists.
Marija Šćulac, Director of the Industry and Sustainable Development Sector at the Croatian Chamber of Economy (HGK), said that the conference discusses sustainability, sustainable business, and business that is not a challenge and a burden but an opportunity for economic growth and development.
“Much has happened in the EU in the last few years regarding sustainability and sustainable business. We are talking about environmental, social and governance factors that companies incorporate into their business in order to be better and more competitive, to pollute the environment less and to be much better toward their employees, but also the local community in which they operate,” Šćulac said.
She added that they cooperate with companies from BiH. “We really have extremely good examples where companies that still have no obligation to align their business with sustainable business, ESG factors, do not have to report,” Šćulac said, adding that some companies are already doing so.
Šćulac also mentioned a company from BiH that prepared a report for 2022 and set a goal to become climate neutral by 2050. She explained that all this is done with the aim of preserving the environment and increasing competitiveness, especially in the Scandinavian market.
The Vice President of the Chamber of Economy of the Federation of BiH and President of the Organizing Committee of the Mostar Economic Forum, Marko Šantić, said that this conference was arranged when they learned that Croatia would be the partner country of the Mostar fair and in the hope that by the time the fair is held, BiH would receive the green light to open negotiations with the EU.
“The conference is designed through three panels. In the first panel, we will see what benefits Croatia had from joining the EU, and what awaits Bosnia and Herzegovina. In the second panel, representatives of HBOR will talk about cooperation with our companies from BiH and with companies operating in BiH and Croatia. The third panel is essentially ESG. It is a model of reporting to internal and external audiences where this becomes a standard and an obligation in the EU, and our companies are gradually adopting it. Those who have that system will retain their position in the market,” Šantić said.
He said that, as a Chamber, they are the bridge between HGK and the institutions of the Republic of Croatia in order to help the real sector so that these “birth pains” are as mild as possible and so that they can enter negotiations and what awaits BiH in the coming period in the proper way.
Šantić concluded that companies that do not adapt in time and apply the ESG model will gradually lose the market battle because in the EU this has long been the standard.
The mentioned international conference was organized by the Chamber of Economy of the Federation of BiH together with HBOR and HGK, with the support of EP HZHB and the Federal Ministry of Development, Entrepreneurship and Crafts./R. I./HMS/
