SARAJEVO - Turkish State Minister Kursad Tuzmen met on Friday with Council of Ministers Chairman Adnan Terzic of Bosnia-Herzegovina.
Tuzmen attended a ceremony during which Turkey and Bosnia-Herzegovina signed an agreement on construction of seven hydroelectric power plants in Travnik region of Bosnia-Herzegovina and on Cemefka River and Kolina River.
Tuzmen conveyed good will message of Turkish Prime Minister Recep Tayyip Erdogan to Terzic during the signing ceremony.
Noting that Free Trade Agreement which came into force would have an important role in increasing the trade between two countries, Tuzmen said that Eximbank gave Bosnia-Herzegovina a loan worth of 80 million dollars, adding that 60 million dollars of this amount was not used and they wanted this loan to be used in appropriate projects.
Terzic said that they wanted to sign the agreement on prevention of double taxation with Turkey as soon as possible.
Noting that they wanted a study group to be formed to use the loan worth of 60 million U.S. dollars, Terzic said that this group could list appropriate projects.
Terzic said that they would always help Turkey carry out its projects in their country and added that they would also extend necessary assistance to develop trade.
The project on construction of seven hydroelectric power plants is expected to cost about 16 billion Euros.
Turkish State Minister Tuzmen left for Bosnia-Herzegovina on Thursday to hold several meetings.
Prior to his departure, Tuzmen stressed that trade volume between Turkey and Bosnia-Herzegovina rose 43 percent to 73 million U.S. dollars in 2003.
Tuzmen recalled that the Free Trade Agreement between the two countries entered into force on July 1, 2003.
Turkish State Minister Kursad Tuzmen said on Friday that Turkish investments in Bosnia-Herzegovina would increase after Turkish company Sa-Ra won tender for construction of seven hydroelectric power plants.
Later in the day, Tuzmen met with Foreign Trade and Economic Relations Minister Dragan Doko and Transportation and Communications Minister Branko Dokic.
During his meeting with Doko, two sides decided to hold Turkey-Bosnia-Herzegovina Joint Economic Commission meeting in Ankara in July.
(GC-BRC) 01.05.2004