Tehran, Sarajevo Mull Visa-Free Regime
Iran and Bosnia-Herzegovina have signed a memorandum of understanding (MoU)
on promotion of business cooperation and mutual investment.
The document was signed by the countriesí officials in the presence of
Iranian President Hassan Rouhani and the visiting chairman of the Presidency
of Bosnia-Herzegovina, Bakir Izetbegović, during a ceremony at Tehranís
Sadabad Complex (Oct. 25).
It envisages expansion of cooperation between the countriesí enterprises and
industrial parks. The agreement also calls for cooperation between small and
President Rouhani and Izetbegovic held a joint
press conference after their meeting, highlighting the importance of
ďThe relations between the two countries have always been friendly since the
independence of Bosnia-Herzegovina and this trip [Izetbegovicí visit to
Iran] will be a starting point to expand relations,Ē Rouhani explained.
Bosnia-Herzegovina can facilitate Iranís entry into the European markets,
said Izetbegovic, adding that the JCPOA (Joint Comprehensive Plan of Action
or Iran nuclear deal) has provided good grounds for development of bilateral
ties between the two nations.
He further said that Tehran and Sarajevo must take steps to facilitate
grounds for mutual investment.
A joint commission, to be held in the Bosnian capital of Sarajevo in
December, is to examine and finalize the list of the areas of bilateral
cooperation, the Iranian chief executive said.
Bosnia-Herzegovina can facilitate Iranís entry into the European
markets, said Izetbegovic.
Visa Free Travels
Iran Majlis Speaker Ali Larijani and President Izetbegovic discussed plans
for lifting visa requirements for the two countriesí travelers.
In a meeting with the Bosnian president, Larijani highlighted the role of
tourism in the expansion of economic relations between Tehran and Sarajevo.
He underlined that lifting visa requirements for travels between Iran and
Bosnia-Herzegovina would greatly help the two countries unleash the
potential for economic interaction.
Iran Oil Import
Bosnia-Herzegovina was expected to hold a new round of negotiations to
import oil and byproducts during the visit of Izetbegovic to Tehran.
Diversification of oil export markets is a declared policy of the Iranian
government in the post-sanctions era and Eastern Europe is a top emerging
Over the past nine months, Iran managed to expand crude exports to Hungary,
Poland and Romania under spot contracts.
State-owned National Iranian Oil Company is said to have conducted talks
with Russian oil and gas firm Zarubezhneft on oil sales to Bosnia.
Zarubezhneft specializes in exploration, development and operation of oil
and gas fields outside Russia.
According to Ali Kardor, NIOCís new managing director, Zarubezhneft owns a
refinery in Bosnia and Iran can supply the refineryís total crude oil
Meeting with Leader, EC Chairman, Speaker
Leader of the Islamic Revolution Ayatollah Ali Khamenei expressed the
Iranian governmentís full readiness to improve cooperation with
Bosnia-Herzegovina in various political and economic sectors and boost
bilateral coordination in international communities. He made the remark in a
meeting with Izetbegovic, in Tehran (Oct. 25).
The Bosnian official also hoped that relations between Tehran and Sarajevo
would result in effective economic cooperation and serve common interests of
arrived in Tehran (Oct. 24) at the invitation of the Iranian President. He
held separate talks with Rouhani, Larijani, and Chairman of the Expediency
Council Akbar Hashemi Rafsanjani.