Economic patriotism in the service of reducing the foreign trade deficit

Source: www.fmt.gov.ba

Economic patriotism, product branding, import substitution were the topics of the meeting between Federal Minister of Trade Amir Hasičević and representatives of the Chamber of Economy of the FBiH, the Employers’ Association of the FBiH, the Association Buy and Use Domestic – quality produced in BiH, and the Association “Radio Kameleon-open network of human rights and democracy”.

Minister Hasičević said on this occasion that consumer patriotism is an important prerequisite for economic development and that in this sense this ministry, through the planned development of the Trade Development Strategy, aims to place emphasis on domestic products through branding and import substitution.

He noted that the foreign trade deficit in BiH has exceeded 6 billion KM, and that all possibilities should be considered in order to help domestic producers, especially exporters, increase their placement.

The Chamber of Economy of the FBiH and the mentioned associations launched projects for certifying domestic products in an effort to enable domestic producers better placement in foreign markets.

Admir Kapo from the Association “Buy and Use Domestic – quality produced in BiH” informed Minister Hasičević that the Association had adopted a unique BiH quality mark “Zvijezda” which member companies accepted and began printing on the packaging of their products.
Also, this association together with its members launched the eleventh campaign in May 2023 aimed at promoting domestic companies and their products/services under the name “Buy domestic-buy stars”. Twelve companies from all parts of BiH participated in the campaign – Sarajevo, Brčko, Bihać, Široki Brijeg, Čitluk, Čapljina and East Sarajevo.

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Marko Šantić, Vice President of the Chamber of Economy of the FBiH, spoke about the Project of visual labeling of quality domestic products through which the marks “BH quality” and “Originally domestic” will be awarded to domestic products.
At the request of the Chamber of Economy of the FBiH, the Institute for Intellectual Property of Bosnia and Herzegovina issued a Certificate on the BH quality and Originally domestic trademark to the Chamber of Economy of the Federation of BiH and protected the visual identity of the campaign. A Register of users of the marks and groups for improving the quality and promotion of domestic products and services is also planned.

Zlatko Berbić from the Association “Radio Kameleon-open network of human rights and democracy” shared the experience of the Made in BiH project, which aimed to create a digital register of domestic producers with all data on the types and quality of products that would be available to interested buyers abroad.

During the implementation of the mentioned projects, it became clear that more work is needed on educating domestic producers, as well as on the partnership relationship between businesspeople and authorities for more efficient achievement of the goal.
Minister Hasičević proposed that one of the tasks should be the synergy of this ministry, the Chamber of Economy and the mentioned associations, which will work together on branding and promoting the domestic economy.