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Turkey's Galata Lokum to invest 2 mln euro in organic farming in Bosnia's Federation

Turkey's Galata Lokum to invest 2 mln euro in organic farming in Bosnia's Federation oticki/Shutterstock.com

SARAJEVO (Bosnia and Herzegovina), April 19 (SeeNews) – Turkish company Galata Lokum plans to invest 4 million marka ($2.2 million/2 million euro) in an organic farming project in Bosnia's Federation, where it will employ 150 people, the entity's government has said.

The Federation's agriculture minister Semsudin Dedic met with the director of Galata Lokum's Sarajevo-based subsidiary TGT d.o.o., Hasan Gulyuz, on Tuesday to discuss the company's plans, the entity's government said in a statement following the meeting.

The project, named Galata Garden, will be focused on greenhouse organic production of lettuce, cherry tomatoes and strawberries, which will be exported to the region and the EU.

The company is currently looking for a land plot suitable for this kind of production, the government said.

"Organic production is a very promising sector in Bosnia and Herzegovina, which has comparative advantages such as fertile land and water wealth", Dedic explained. "There will always be a demand for these products on the EU market".

The Federation is one of two entities in Bosnia and Herzegovina. The other is the Serb Republic.

(1 euro=1.95583 Bosnian marka)

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