It is essential to visit the country early in the market exploration phase to develop relevant industry contacts and understand BiH’s multi-layered bureaucratic structure.
New entrants to the market in established sectors will often be competing with nearby suppliers from Croatia, Serbia, and Slovenia, as well as other dominant EU member country exporters, who benefit from various trade preferences.
For a new-to-market company, identifying a local partner is key. The selection should be based on a potential partner’s knowledge of the local market and a thorough check of its reputation. Sales agents, representatives, and distributors all have important roles to play in this market. Regardless of which channel is selected, sales support and after-sales service are critical.
Financing is a key consideration for Bosnian companies when considering whether to take on a new U.S. product line.