The economic cooperation agreement between South Korea and Bosnia and Herzegovina takes effect on November 6. This agreement covers a broad range of cooperation in various sectors, including investment, tourism, agriculture, and the environment.
According to the Ministry of Foreign Affairs, Bosnia and Herzegovina is a net exporter of electricity located in Southeast Europe. The country is currently promoting an energy transition focused on renewable energy and is actively developing its wood processing and furniture industries, leveraging its abundant forest resources.
The implementation of this agreement is expected to strengthen economic cooperation with Bosnia and Herzegovina and establish a regulatory framework for South Korean companies to enter the Balkan region. Additionally, the agreement allows for the establishment of economic and technical expert meetings to monitor the implementation of the agreement and discuss ways to enhance economic cooperation, which is anticipated to further solidify practical collaboration between the two countries.
The annual trade volume between the two countries was $41.59 million in 2025, with South Korea primarily exporting steel, electronic devices, and automotive parts. Bosnia and Herzegovina mainly exports lead ore and clothing. According to the Korea International Trade Association, South Korea's exports amounted to $10.42 million, while imports totaled $31.17 million in 2025.
With this economic cooperation agreement with Bosnia and Herzegovina, South Korea has now activated 102 economic cooperation agreements. The government plans to continue signing economic cooperation agreements to expand its economic diplomacy network and facilitate the global market entry of South Korean companies.
* This article has been translated by AI.
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