Bosnian Serbs Woo Investors From Russia

Republika Srpska, the Serb-dominated identity in Bosnia, and Russia aim to strengthen economic ties, officials said, as a Bosnian Serb delegation toured Russia touting for business.

Anton Sokolov, from the Russian embassy in Sarajevo, told BIRN on Thursday that Russian entrepreneurs want to increase their investments in the energy sector in the entity.

"There is a continuing interest by Russian business to invest in Bosnia, primarily in the energy sector ... which will likely focus on Republika Srpska, as Russian businessmen say the investment climate is more favourable there than in the Federation [entity]," Sokolov said.

He noted that Russia is already the fourth biggest foreign investor in Bosnia.

Petar Djokic, the Republika Srpska Minister of Industry, Energy and Mines, along with a group of entrepreneurs from the entity, visited a business forum in the Russian city of Nizhny Novgorod on Wednesday and Thursday, to promote investments in Republika Srpska.

Djokic, who inaugurated a centre that will focus on mutual economic cooperation, said businesses from Nizhny Novgorod have "a strong interest in cooperating with Republika Srpska", the Banja Luka-based news agency SRNA reported.

In an interview with the Russian news agency TASS, Djokic recalled that commercial relations between Russia and the entity had improved a good deal in the past two years.

Promoting economic relations with Moscow is a key part of the strategy of the government of Republika Srpska, which sees Russia as a commercial and political partner of growing importance.

"Foreign trade turnover between Russia and Republika Srpska grew by 40 per cent in two years," Djokic said in the interview.

Republika Srpska "is interested in equipment from...