WORLD NEWS FOR MONTENEGRO DIASPORA
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SOURCE: ANTENA M / AUTHOR: M.J. GDNUS
On Monday, Montenegro and the United States signed a memorandum on strategic economic cooperation, the aim of which is to strengthen the economic partnership, trade and investments between the two countries.
The memorandum of understanding was signed at the State Department in Washington on behalf of the US and Montenegrin governments by US Undersecretary for Economic Growth, Energy and Environment Jose Fernandez and Montenegrin Vice President and Minister of Economic Development Nik Djeljošaj.
The document was signed during the first direct economic dialogue between high-ranking officials of the United States and Montenegro, which was attended by the ministers of energy, public administration, shipping, oil, gas and mining Saša Mujović, Maraš Dukaj, Filip Radulović and Admir Šahmanović, as well as the American ambassador to Judi Rajing Rajnke to Montenegro and Montenegrin Ambassador to the USA Jovan Mirković.
The memorandum is the basis for cooperation between Washington and Podgorica in the fields of infrastructure, technologies, renewable energy sources and tourism, Undersecretary Fernandez announced on Ex.
Before the signing of the document, the American official announced that the USA is ready to help Montenegro switch to clean energy sources, with the assessment that a successful transition will promote prosperity and the country's accession to the European Union. He also encouraged Podgorica's cooperation with American companies in that area.
He said that the USA would like to continue to be the main partner of Montenegro when it comes to cyber security, resilience and countering cyber threats.
He also said he was encouraged by the progress made since the two countries launched an economic dialogue in 2021, especially when it comes to "foreign direct investment, export controls, border security and strengthening commercial courts."
"I am very impressed with the results (of the dialogue) so far and I look forward to the future. This economic dialogue is the result of the trust we are building and which allows us to have serious talks.... Montenegro has shown that it is a good partner," said Fernandez.
He congratulated Montenegro on the positive Report on the fulfillment of temporary benchmarks for Chapters 23 and 24 (IBAR), received in June, and assessed that this recognized the government's efforts to improve the rule of law, adding that it makes Montenegro easier for business and investments.
After the economic dialogue, Fernandez assessed that progress has been made when it comes to "investment screening, clean energy initiatives and cyber resilience" in order to "encourage economic growth and prosperity for American and Montenegrin citizens.
The memorandum on economic cooperation is the basis for further connecting the economic sectors of the two countries and proof of the deepening of their economic cooperation, said the vice-president of the Montenegrin government before signing the memorandum.
"Through the improvement of our economic partnership in areas such as digitization, cyber security, tourism, transport infrastructure and energy, we will create new opportunities for innovation, investment and economic development," said Đeljošaj.
He also called on American companies to recognize Montenegro as a "safe" destination for investments:
"With the joint efforts of our governments and business entities, we can create a favorable environment for investment and trade exchange, which will contribute to the economic growth and development of both countries. This is especially important in the context of the current challenges we are facing, such as the consequences of global inflation, economic instability and hostilities at the global level".
After the signing of the memorandum of understanding, the economic dialogue between representatives of the American and Montenegrin governments continued at the level of working groups, in which officials of the Montenegrin government and experts from the American secretariats of trade and energy, the Agency for International Development, EXIM (Export-Import) bank participated.
After the meeting and the signing of the memorandum, the State Department announced that both parties committed to improving the investment environment in Montenegro.
"Efforts to strengthen economic relations between the USA and Montenegro have been confirmed once again, which will benefit the citizens of both countries by promoting sustainable and inclusive growth," the State Department announced.
The announcement emphasizes that the goal of the memorandum is to strengthen cooperation.
"Expansion of bilateral trade and investment and support to the regional economy that will benefit American and Montenegrin workers and businesses," it stated in the text.
As indicated by the State Department, the participants of the dialogue considered joint approaches to the promotion of foreign investments and training in the field of trade law, energy infrastructure, procurement of technology from reliable suppliers, as well as continuous cooperation in the field of cyber security.
The governments of the two countries, as stated, emphasized the importance of deepening the economic partnership and supporting Montenegro on its path to EU accession.
"Both sides have committed to improve coordination in the areas discussed discussed in a dialogue with the participation of both governments. "Montenegro submitted a letter of intent to join the Blue Dot Network to ensure the most ecological, social management of infrastructure projects," the State Department stated.
The United States and Montenegro held the first economic dialogue in 2021, virtually, due to the covid pandemic. The dialogue was also opened by Undersecretary Fernandez on behalf of the USA, and by Prime Minister Zdravko Krivokapić on behalf of Montenegro.
The result of the first dialogue was the formation of five working groups, for the development of initiatives in the areas of trade and investment, economic development, technology and innovation, clean energy, as well as decarbonization and property rights.
The USA then announced that they wanted to "strengthen the economic partnership with Montenegro and to support its progress in joining the European Union".
