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<!--BeginDoc 62506134--> <PRE> <table class="text" bordercolor="#000066" cellspacing="1" cellpadding="2" width="95%" align="left" bgcolor="#ffffff" border="1"><tbody><tr><td valign="top" colspan="13"><p align="center"><span class="htmla_titolo"></span></p><p align="center"><span class="htmla_titolo"><img hspace="5" src="http://www.informest.it/images/loghi/informest/logo_informest_215x38.gif" align="baseline" vspace="5" border="0" /></span></p><p align="center"><span class="htmla_titolo"><font color="#003366">FEDERATION OF BOSNIA AND HERZEGOVINA<br /></font></span></p></td></tr><tr><td valign="top" width="120" rowspan="7"><font color="#003366"><strong>GENERAL DATA</strong> </font></td><td valign="top" colspan="5"><p><font color="#003366">Form of Government:</font></p></td><td valign="top" width="327" colspan="7"><p><font color="#003366">Presidential form (three-member rotating, every 8 months, Presidency)</font></p></td></tr><tr><td valign="top" width="204" colspan="5"><p><font color="#003366">Capital:</font></p></td><td valign="top" colspan="7"><p><font color="#003366">Sarajevo, pop: 380.000 (2003)</font></p></td></tr><tr><td valign="top" width="204" colspan="5"><p><font color="#003366">Area:</font></p></td><td style="WIDTH: 343px; HEIGHT: 18px" valign="top" colspan="7"><p><font color="#003366">51,129 sq km</font></p></td></tr><tr><td valign="top" width="204" colspan="5"><p><font color="#003366">Population:</font></p></td><td valign="top" colspan="7"><p><font color="#003366">4,025,476 (July 2005 est.)</font></p></td></tr><tr><td valign="top" width="204" colspan="5"><p><font color="#003366">Population growth rate:</font></p></td><td valign="top" colspan="7"><p><font color="#003366">0.44% (2005 est.)</font></p></td></tr><tr><td valign="top" width="204" colspan="5"><p><font color="#003366">Life expectancy at birth:</font></p></td><td valign="top" colspan="7"><p><font color="#003366">Male: 70.09 years; female: 75.8 years (2005 est.)</font></p></td></tr><tr><td valign="top" width="204" colspan="5"><p><font color="#003366">Currency:</font></p></td><td valign="top" colspan="7"><p><font color="#003366">Convertible Mark (1 EUR = 1.9558 KM; 1 USD = 1.6181 KM) - 2005 </font></p></td></tr><tr><td valign="top" width="120" rowspan="9"><p><font color="#003366"><b>MAIN ECONOMIC INDICATORS</b> </font></p></td><td valign="top" width="144" colspan="2"><p><font color="#003366"></font></p></td><td valign="top" colspan="4"><p align="center"><font color="#003366"><b>2001</b> </font></p></td><td valign="top" width="84"><p align="center"><font color="#003366"><b>2002</b> </font></p></td><td valign="top" width="84" colspan="2"><p align="center"><font color="#003366"><b>2003</b> </font></p></td><td valign="top" width="84" colspan="2"><p align="center"><font color="#003366"><b>2004</b> </font></p></td><td valign="top" width="64"><p align="center"><font color="#003366"><b>2005</b> </font></p></td></tr><tr><td valign="top" width="144" colspan="2"><p><font color="#003366">GDP (bln. Euro)</font></p></td><td valign="top" colspan="4"><p align="right"><font color="#003366">6,0</font></p></td><td valign="top" width="84"><p align="right"><font color="#003366">5,9</font></p></td><td valign="top" width="84" colspan="2"><p align="right"><font color="#003366">6,3</font></p></td><td valign="top" width="84" colspan="2"><p align="right"><font color="#003366">6,6</font></p></td><td valign="top" width="64"><p align="right"><font color="#003366">n.a.</font></p></td></tr><tr><td valign="top" width="144" colspan="2"><p><font color="#003366">GDP per capita (Euro)</font></p></td><td valign="top" colspan="4"><p align="right"><font color="#003366">1.472</font></p></td><td valign="top" width="84"><p align="right"><font color="#003366">1.553</font></p></td><td valign="top" width="84" colspan="2"><p align="right"><font color="#003366">1.642</font></p></td><td valign="top" width="84" colspan="2"><p align="right"><font color="#003366">1.732</font></p></td><td valign="top" width="64"><p align="right"><font color="#003366">n.a.</font></p></td></tr><tr><td valign="top" width="144" colspan="2"><p><font color="#003366">Inflation rate (%)</font></p></td><td valign="top" colspan="4"><p align="right"><font color="#003366">1,7*<br />6,5**</font></p></td><td valign="top" width="84"><p align="right"><font color="#003366">- 0,2*<br />1,7**</font></p></td><td valign="top" width="84" colspan="2"><p align="right"><font color="#003366">0,1*<br />1,8**</font></p></td><td valign="top" width="84" colspan="2"><p align="right"><font color="#003366">- 0,3*<br />1,9**</font></p></td><td valign="top" width="64"><p align="right"><font color="#003366">n.a.</font></p></td></tr><tr><td valign="top" width="144" colspan="2"><p><font color="#003366">Unemployment rate (%)</font></p></td><td colspan="4"><p align="right"><font color="#003366">40,3<sup>1</sup> </font></p></td><td width="84"><p align="right"><font color="#003366">40,9<sup>1</sup> </font></p></td><td width="84" colspan="2"><p align="right"><font color="#003366">42,0<sup>1</sup> </font></p></td><td width="84" colspan="2"><p align="right"><font color="#003366">43,2<sup>1</sup> </font></p></td><td width="64"><p align="right"><font color="#003366">n.a.</font></p></td></tr><tr><td valign="top" width="144" colspan="2"><p><font color="#003366">Trade balance (mil.Euro)</font></p></td><td valign="top" colspan="4"><p align="right"><font color="#003366">- 2.433</font></p></td><td valign="top" width="84"><p align="right"><font color="#003366">- 2.553</font></p></td><td valign="top" width="84" colspan="2"><p align="right"><font color="#003366">- 3.048</font></p></td><td valign="top" width="84" colspan="2"><p align="right"><font color="#003366">- 3.261</font></p></td><td valign="top" width="84"><p align="right"><font color="#003366">- 1451,9<sup>2</sup> </font></p></td></tr><tr><td valign="top" width="144" colspan="2"><p><font color="#003366">Total imports (mil. Euro)</font></p></td><td valign="top" colspan="4"><p align="right"><font color="#003366">- 3.356</font></p></td><td valign="top" width="84"><p align="right"><font color="#003366">- 3.518</font></p></td><td valign="top" width="84" colspan="2"><p align="right"><font color="#003366">- 4.231</font></p></td><td valign="top" width="84" colspan="2"><p align="right"><font color="#003366">- 4.792</font></p></td><td valign="top" width="84"><p align="right"><font color="#003366">- 2289,3<sup>2</sup> </font></p></td></tr><tr><td valign="top" width="144" colspan="2"><p><font color="#003366">Total exports (mil. Euro)</font></p></td><td valign="top" colspan="4"><p align="right"><font color="#003366">923</font></p></td><td valign="top" width="84"><p align="right"><font color="#003366">965</font></p></td><td valign="top" width="84" colspan="2"><p align="right"><font color="#003366">1.183</font></p></td><td valign="top" width="84" colspan="2"><p align="right"><font color="#003366">1.531</font></p></td><td valign="top" width="84"><p align="right"><font color="#003366">837,4<sup>2</sup> </font></p></td></tr><tr><td valign="top" colspan="12"><p><font color="#003366">* Federation only; ** Republic of Srpska only; <sup>1 </sup>Taking in account informal sector, real unemployment rate estimated is about 20%; <sup>2 </sup>Q1/05 (mil KM). </font></p></td></tr><tr><td valign="top" width="120" rowspan="2"><p><font color="#003366"><b>COUNTRY RISK</b> </font></p></td><td valign="top"><p><font color="#003366">Sace (cat OCSE)</font></p></td><td valign="top" width="94" colspan="2"><p><font color="#003366">Coface</font></p></td><td valign="top" colspan="5"><p><font color="#003366">Freedom House</font></p></td><td valign="top" width="49" colspan="2"><p><font color="#003366">Moody's</font></p></td><td valign="top" width="124" colspan="2"><p><font color="#003366">Bear Stearns</font></p></td></tr><tr><td valign="top" width="80"><p align="center"><font color="#003366">7</font></p></td><td valign="top" width="94" colspan="2"><p align="center"><font color="#003366">D</font></p></td><td valign="top" colspan="5"><p><font color="#003366">Civil liberties: 3<br />Political rights: 4 </font></p></td><td valign="top" width="49" colspan="2"><p align="center"><font color="#003366">B3/positive</font></p></td><td valign="top" width="124" colspan="2"><p align="center"><font color="#003366">B+ (2003)</font></p></td></tr><tr><td valign="top" width="120"><p><font color="#003366"><b>MAJOR PRODUCTION SECTORS</b> </font></p></td><td valign="top" colspan="12"><p><font color="#003366">Steel, coal, iron ore, lead, zinc, manganese, bauxite, vehicle assembly, textiles, tobacco products, wooden furniture, tank and aircraft assembly, domestic appliances, oil refining.</font></p></td></tr><tr><td valign="top" width="120"><p><font color="#003366"><b>INVESTMENTS</b> </font></p></td><td valign="top" colspan="12"><p><font color="#003366">As to foreing direct investments, since 1994 Italy has been the 10<sup>th</sup> investor country in Bosnia and Herzegovina, with investments amounted to 83 million EUR. In January-March 2004, Italy was at the third place among the investor countries (3,8% of the total foreign direct investments). The principal Italian companies performing in Bosnia Herzegovina are: Top Sedia, Unicredit, Danieli, DKS Loversan, Ital Project, Corà S.p.A., Olip Italia, Sol S.p.A. </font></p></td></tr><tr><td valign="top" width="120" rowspan="5"><p><font color="#003366"><b>COMPANY REGIME</b> </font></p></td><td valign="top" colspan="12"><p><font color="#003366">The most favourable company legal forms in which invest are: </font></p></td></tr><tr><td valign="top" width="199" colspan="4" rowspan="2"><p><font color="#003366">Joint-stock company</font></p></td><td valign="top" colspan="8"><p><font color="#003366">Minimum capital: 50.000 KM </font></p></td></tr><tr><td valign="top" colspan="8"><p><font color="#003366">Minimum number of members: 1</font></p></td></tr><tr><td valign="top" width="199" colspan="4" rowspan="2"><p><font color="#003366">Limited liability company</font></p></td><td valign="top" colspan="8"><p><font color="#003366">Minimum capital: 5.000 KM (if the company is incorporated by a single person); 10.000 KM (if the company is incorporated by more than 1 person).</font></p></td></tr><tr><td valign="top" colspan="8"><p><font color="#003366">Minimum number of members: 1</font></p></td></tr><tr><td valign="top" width="120" rowspan="3"><p><font color="#003366"><b>TAX REGIME</b> </font></p></td><td valign="top" width="199" colspan="4"><p><font color="#003366">VAT: </font></p></td><td valign="top" colspan="8"><p><font color="#003366">There is no VAT system in place in <country-region w:st="on" /><place w:st="on" />Bosnia and Herzegovina</place /></country-region />. The introduction of a 17% VAT is foreseen by January 2006. </font></p></td></tr><tr><td valign="top" width="199" colspan="4"><p><font color="#003366">Corporate income tax:</font></p></td><td valign="top" colspan="8"><p><font color="#003366">Federation B&H - 30%; Republika Srpska - 10%</font></p></td></tr><tr><td valign="top" width="199" colspan="4"><p><font color="#003366">Personal income tax:</font></p></td><td valign="top" colspan="8"><p><font color="#003366">Federation B&H - 5% (tax base is gross salary); 10% - 15% (in depend of type tax-base). Republika Srpska - 10%</font></p></td></tr><tr><td valign="top" width="120"><p><font color="#003366"><b>WORKING REGIME</b> </font></p></td><td valign="top" colspan="12"><p><font color="#003366">In April 2005, the average net wage amounted to 546,91 KM. In December 2004, in the Republic of Srpska the average gross wage amounted to 693 KM. </font></p></td></tr><tr><td valign="top" colspan="13"><p align="justify" /><p align="justify"><a href="http://www.informest.it/" target="_blank"><font color="#ff9900"><strong>INFORMEST</strong></font></a>, <font color="#003366">in the framework of its institutional activity, produces the "Business Guide", an informative tool containing economic, commercial and juridical information of Eastern European and Central Asiatic Countries.</font></p><p align="justify"><font color="#003366">Business Guide allows to assess the viability, convenience and costs of doing business in Eastern European and Central Asiatic Countries.</font></p><p align="justify" /><p /><p><span class="htmla_paragrafo">THE SERVICE</span></p><ul><li><font color="#003366">On the market since 1995</font></li><li><font color="#003366">Provided on line since 2000</font></li><li><font color="#003366">Constant increase of the subscribers </font></li><li><font color="#003366">26 Countries covered by the service</font></li></ul><p /><p><span class="htmla_paragrafo"></span></p><p><span class="htmla_paragrafo">COUNTRIES</span></p><p align="justify"><font color="#003366">The Countries at the moment covered (26):<br />Albania, Armenia, Azerbaijan, Belarus, Bosnia, Bulgaria, Czech Republic, China, Croatia, Estonia, Hungary, Latvia, Lithuania, Macedonia, Kazakhstan, Moldova, Mongolia, Poland, Romania, Russia, Slovak Republic, Serbia and Montenegro, Slovenia, Ukraine, Uzbekistan and Vietnam.</font></p><p><span class="htmla_paragrafo">CORRESPONDENTS</span></p><p align="justify"><font color="#003366">The monitoring of 26 Business Guide is constant thanks to the wide network of foreign correspondents with which INFORMEST maintains a daily dialogue.<br />The CORRESPONDENTS has been operating for several years in the Countries, possesses specific competence and reliability in the field object of the cooperation agreement and has got adequate information sources.</font></p><p><font color="#003366">Wide and reliable network, 26 Correspondents among:</font></p><ul><li><font color="#003366">Private Local Consultants</font></li><li><font color="#003366">Local Development Agencies</font></li><li><font color="#003366">Local Chamber of Commerce</font></li><li><font color="#003366">Italian Institutions abroad</font></li></ul><font color="#003366">It is possible to <a href="http://www.informest.it/bg/" target="_blank"><font color="#ff6633">subscribe the BUSINESS GUIDE filling up the form on line</font></a>, according to which it is requested to specify the Country (or the Countries) of your interest.</font> </td></tr></tbody></table></PRE> <!--EndDoc 19639601--> <BR>
