September the 6th, 2024 – US Ambassador to Croatia Nathalie Rayes has confirmed further US investment in Croatia.
As Poslovni Dnevnik/Josipa Ban writes, Over the past decade or so, Croatian exports across the pond to the USA have doubled, reaching an impressive 900 million US dollars in 2023. At the same time, American exports to Croatia amounted to one billion dollars last year.
These figures are a signal of the strengthening of economic and trade cooperation between the two countries on other sides of the Atlantic Ocean. However, they shouldn’t be viewed only in the context of money, stated Nathalie Rayes, the US ambassador to Croatia, but also through more employment, more well-paid jobs and more innovation on the whole.
more connections between los angeles and croatia?
Ahead of a seminar on doing business in the USA and double taxation, organised by the Croatian Chamber of Commerce (HKG) and ACAP, (the Association of Croatian-American Professionals), Rayes announced new US investment in Croatia.
“We’re currently dealing with several different investment opportunities. I hope that we’ll be able to announce them soon”, said the American ambassador to Croatia. She also announced that a trade delegation from Los Angeles will visit Croatia this November. The delegation will include the Los Angeles Chamber of Commerce, representatives of the Port of Los Angeles, the largest port in all of North America, and representatives of LAX.
“I’d like to see a direct and permanent air connection between Zagreb and Los Angeles”, revealed Rayes, adding that the delegation will also include representatives of the City of Los Angeles, i.e. the city office that deals with energy and water. “They’re doing incredible things in the field of renewable energy sources over there, and I hope they will share their experiences when here with Croatian companies,” she noted.
us investment in croatia
“Croatia is ready for investments from the USA. We’re very much looking forward to announcing the new ones soon,” teased Ambassador Rayes.
The last known US investment Croatia is that of Jabil in Osijek, as well as Google’s acquisition of Damir Sabol’s incredible app, Photomath.
As for the Double Taxation Avoidance Agreement between Croatia and the USA, which was signed back at the end of 2022, it still needs to be ratified by the US Senate, and then by the Croatian Parliament. Almost two years of waiting is actually not that long because the ratification process can take up to ten whole years, according to Nathalie Rayes.
“There is the will of the Americans to ratify this Agreement, but it needs to actually become a priority. I encourage everyone to lobby. As far as that is concerned, I do my part and talk to representatives of companies, Congress, and especially senators. My goal is to have the Agreement ratified by 2025,” stated Rayes.
the us is an important ally for croatia
Luka Burilović, president of the Croatian Chamber of Commerce, emphasised the importance of closer economic cooperation between Croatia and the USA and added that the Chamber is satisfied with the current state of that relationship, especially after the decision to abolish visas and the signing of the Agreement on the Avoidance of Double Taxation.
“For us, America is an important political, above all economic and military ally. We’re also satisfied with the economic indicators that continue to grow year after year. The USA is among the top ten most important trading partners for Croatia. We’re also satisfied with regards to tourism, because the figures show great growth. Last year we had about 700,000 tourists from the USA,” Burilović concluded.
