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The Buzz in Bosnia & Herzegovina: Interview with Ezmana Turkovic of Maric & Co

The Buzz in Bosnia & Herzegovina: Interview with Ezmana Turkovic of Maric & Co

Bosnia and Herzegovina
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Bosnia & Herzegovina is experiencing a boom in the tourism sector, feeding the steady recovery of the Balkan country, and which spells out good things to come, according to Maric & Co Partner Ezmana Turkovic.

“The political situation is as complicated and complex as it has been so far,” Turkovic begins. “However, what has been underlined as particularly important are the recent visits of Angela Merkel and Ursula von der Leyen to countries in the Western Balkans.” She reports that these visits have stirred up hopes of the Western Balkan countries joining the European Union at long last.

Given the complexity and weight of political issues in the country, Turkovic reports that “no legislative changes and updates of note occurred, other than those that seek to curb the spread of COVID-19.” She says that these updates also aim to alleviate the negative economic side-effects of the pandemic.

Speaking more about the economy itself, Turkovic reports that it is in recovery. “COVID-19 hit us hard, but the economy is picking up speed,” she says. “Tourism is our most intensive sector right now, and it is contributing to the overall economic recovery – a lot.” Turkovic says that the tourism boom was caused by the “relatively low levels of restrictive measures concerning the entry into Bosnia & Herzegovina. This year, during the summer months, we’ve had a 200% uptick in the number of tourists compared to last year.” 

Finally, looking ahead, Turkovic gives us the outlook for Bosnia & Herzegovina: “I expect the biggest changes to take place in the energy sector, given that Bosnia & Herzegovina has undertaken a series of obligations to transfer to more renewable energy sources.” She also reports that investments are possible and necessary when it comes to constructing the assets required to produce renewable energy. “Of course, the appropriate accompanying infrastructure is sorely needed, but also – the software tools needed to manage them. Still, before anything can be done, a new legal framework regulating energy should be drafted and put into effect,” Turkovic concludes.

Bosnia and Herzegovina Knowledge Partner

Maric & Co Law Firm stands on the shoulders of more than 70 years of experience and practice in the legal market of Bosnia and Herzegovina. Having in mind that it is difficult to find a small country with such a complicated political and legal system, we are fully aware that quality advice requires deep understanding of different areas of law. In a country where legislation is created on state, entity and cantonal levels, without proper harmonization, and where the same regulation can be applied differently by two different courts, only domestic lawyers who are well-versed in local regulations and court practices, and who are highly specialized in their practice area, may actually help their client.

With this understanding, today, the firm Maric and Co is the largest law office in the country dealing exclusively with business law. This means that we provide wide expertise in resolving all issues that domestic and international investors encounter when setting up and operating businesses in Bosnia and Herzegovina. The scope of the office allows each of our attorneys to highly specialize in their fields, whilst the size of our team ensures delivery of premium advice and seamless service. Our firm seeks long-term partnerships with clients with the aim of providing the best and most complete solution to the client's legal needs. We are proud to say that our clients do not leave us.

We apply the same principles to our international affairs, aware of the fact that no foreign lawyer can have the same understanding of legal regulations of a country as a domestic lawyer. Therefore, our philosophy is not to open branches in countries where our clients do business, but to closely connect with top tier lawyers in those countries. Our law firm is one of the founding members of SEE Legal – a group of ten leading national law firms from 12 South East European countries. This network enables us to provide the best advice and representation in these countries. Additionally, as a result of our strong relationship with the majority of global law firms, we are able to provide law services anywhere in the world.

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