Representatives of the City Department of Economy took part in the eighth Jahorina Economic Forum, held under the theme “Agenda for the Western Balkans – Growth Plan” from 19 to 21 May 2025.
 
Throughout this prestigious three-day regional event dedicated to economics, a series of panel discussions were held, featuring top experts, business leaders, and decision-makers.
 
Dušan Trifković, Acting Head of the Department of Economy, highlighted that the most important part of this year’s Forum for the City of Bijeljina was the 11th panel discussion, titled “Business Zones – The Future of Free Zones, Transformation of the Business Model,” due to the fact that export value in the territory of Bijeljina is continuously increasing. Considering the excellent geographical position of Semberija and the dynamic economic cooperation with neighbouring countries, it is evident that the establishment of a free zone in Bijeljina is a necessity that would facilitate operations for numerous companies.
 
The panel featured several experts, with particular attention drawn to the discussion led by moderator Nika Manukova from the World Free Zones Organization based in Dubai, as well as Dragan Kostić, President of the Pirot Chamber of Commerce and a consultant for free zone development from the Republic of Serbia. They presented numerous cost-saving opportunities enabled by the establishment of free zones, as well as current global trends in the development of such zones and other relevant economic developments.
 
The emphasis of Kostić’s address was on the fact that, globally, all areas of life are currently undergoing unprecedentedly rapid change.
 
“We are witnessing the formation of various alliances in the field of economics and the most significant upheaval reflected in the major shift in U.S. foreign trade policy, now focused on individual “deals” with different regions. For all the “weaker players,” such a situation on the global economic map may represent both a threat and an opportunity for progress, provided wise economic strategies prevail,” Kostić explained.
 
He also emphasised that the new balance of power, especially for economically weaker countries, necessitates seeking the most favourable position for themselves, and that current upheavals in global economic relations should be viewed through the lens of the new U.S. tariff policy. With the introduction of tariffs and reciprocal measures, the significance of free zones increases, as operating from within a free zone enables businesses to avoid the impact of high tariffs.
 
The majority of the discussion focused on changes in the U.S.-China relationship, as well as between the Middle East and Russia. At the centre of these dynamics is Europe, with countries from our region positioned on its periphery. The tariff policies of major global economic powers, reciprocal measures, and ongoing conflicts are all elements that our country, among others, could potentially harness and turn to its advantage, it was noted during the panel.
 
In short, shifts in positions are inevitable, and developing countries should capitalise on the advantages and opportunities now presenting themselves.
 
Participants in the aforementioned panel discussion included Andres Ibarra, Executive Vice President of the Alliance with the World Trade Centre Association (Colombia); Aleksandar Simonović, Free Zones Development Consultant (Serbia); Jorge Alberto Diaz Rivera, Founder, Partner and CEO of the consultancy firm Quadrian (Spain); and Yerbol Bukharbayev, Head of the Regional Office of the World Free Zones Organization for Central Asia (Kazakhstan).
 
As for the establishment of a business zone in Bijeljina, a Feasibility Study for the establishment of the Free Zone has been completed, including a list of activities required in the process of establishing the Free Zone. Currently underway is the preparation of an economic feasibility study for the establishment of the Bijeljina Free Zone, in which the experience of Dr Dragan Kostić and Aleksandar Simonović, both experts in the development of free zones, is of great significance.