Montenegro Trade with the Neighbouring Countries Remains Weak: It May Improve in Two Years

The amount of foreign trade of Montenegro with the countries of Central and Eastern Europe could increase by one fifth of the total trade, believes the Government of Montenegro, provided that the free trade agreements are fully respected and implemented. Gordana Djurovic By the end of October of this year, Montenegro has realized a total foreign trade of 60 million EUR with Albania, B&H, Bulgaria, Croatia, Macedonia, Moldova and Romania. That amounts to 8.2% of the total trade in that period of time, and has been reduced by almost the same percentage points in comparison with the same period of 2003. Gordana Djurovic, Minister of Foreign Economic Relations and European Integrations, believes that the free trade zone in the region would not only increase and promote the foreign trade, but send a positive message to the foreign investors. "There is no growth without foreign investments”, she said in her opening address at the Seminar of Regional Trade and Exports, held at the Montenegro Chamber of Commerce. At the moment, Montenegro exports just six percent of its total exports in the region, while the imports from the region amount to less then ten percent of the total goods that enter the country. Djurovic expects that the negotiations for Montenegrin membership in the World Trade Organization should start next year. "That is a great goal, and it can be achieved, having in mind that Macedonia, Croatia and Albania already joined the WTO,” said Gjurovic, estimating that there is the required political will for SCG’s entry in the Trade Organization.

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