Bosnia and Herzegovina’s Foreign Minister, Elmedin Konakovic, said that his country is working to strengthen cooperation with NATO and enhance its internal security measures, including cybersecurity initiatives and the modernization of the defense sector. He also stressed the urgent need to stop the bloodshed in Gaza immediately.
In an interview with Asharq Al-Awsat, Konakovic expressed hope that Bosnia and Herzegovina would achieve full membership in the European Union by 2030. He noted that the country’s goals align with the timeline of Saudi Arabia’s Vision 2030 programs and cooperation projects.
The minister explained that the Russia-Ukraine war is reshaping global alliances, adding that his country is cautiously navigating the complex geopolitical challenges. He also admitted that Bosnia shares common risks with Europe, such as security concerns, supply chain and trade disruptions, political divisions, and inflation. Bosnia relies heavily on Russian energy, particularly natural gas.
Asked about Bosnia’s steadfast pursuit of EU membership, Konakovic said: “Stability and peace are key to our path toward full membership in the European Union. This is the focus of our foreign policy, as our Western and European heritage is linked to opportunities and partnerships with the East.”
He emphasized that the priority is to maintain unity through economic development and improving the business environment.
Regarding Bosnia’s efforts to manage the flow of refugees to Europe through its borders, the minister stated: “We are working to align with EU regulations and recognize that migration is a highly sensitive political issue globally. Therefore, we are doing our utmost to implement measures that preserve the dignity and human rights of the most vulnerable.”
On the Saudi-Bosnian relations, Konakovic expressed deep gratitude for Saudi Arabia’s support over the past three decades, which helped in the reconstruction following the aggression and war in the early 1990s. He also acknowledged Riyadh’s recent support for the resolution related to the 1995 Srebrenica genocide, in which more than 8,000 victims, mostly women and children, lost their lives.
He added: “I firmly believe there is ample room to continue strengthening diplomatic and economic cooperation. We will forever be grateful for the support and assistance Saudi Arabia has provided over the past three decades, which has played a crucial role in rebuilding our country after the war.”
Konakovic highlighted the Kingdom’s significant support for the resolution on the Srebrenica genocide and the establishment of a global day of reflection and remembrance at the United Nations General Assembly. This, he said, honors the memory of the 1995 genocide victims, most of whom were women and children.
According to Konakovic, Saudi investments in Bosnia reached €200 million by the end of 2023. Key investments include the establishment of the first Islamic bank in Southeast Europe, Bosnia Bank International (BBI), with the Islamic Development Bank Group being the largest shareholder.
Other Saudi investments include numerous projects developed by the Al-Shiddi Group, primarily in real estate and hospitality, while the South Europe Investment Company has invested in several real estate and tourism projects. Additionally, the Malak Group has contributed, with over 500 companies in Bosnia registered with Saudi capital.
Konakovic also noted that the Saudi Fund for Development has several ongoing projects in Bosnia, along with new proposals soon to be approved by the Bosnian government. These projects include research and educational institutions in Sarajevo and Banja Luka, as well as infrastructure and healthcare initiatives across various parts of the country, with a total value exceeding €115 million.
“We discussed this partnership with the Fund CEO Sultan Al-Marshad, and we expect it to grow further in the near future,” Konakovic concluded.
