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Economic Cooperation Agreements

  Economic Cooperation Agreements

Montenegro’s cooperation Agreements

The economic cooperation agreements aim primarily to establish an institutional form of cooperation through the strengthening and promotion of economic interests.

These agreements identify the areas of mutual interest, with particular emphasis on agriculture, water management, energy, research and development, construction and infrastructure, transport and logistics, environmental protection, tourism, investment promotion, cooperation in the field of SMEs, ICT and services.

Montenegro signed 20 Agreements on the economic cooperation with the following countries:

Romania, Austria, Bulgaria, China, Hungary, Qatar, Serbia, Turkey, Macedonia, Slovenia, Greece, Croatia, Germany, Spain, Azerbaijan, UAE, Czech Republic, the Slovakia, Albania, Argentina.

Agreements on the mutual promotion and protection of investments

These agreements ensure further enhanced mutually beneficial cooperation between two countries, by establishing an adequate legal framework for cooperation in the field of investment. They define the conditions for investments, allow free transfer of funds, and regulate the right of subrogation, compensation in the event of expropriation and settlement of disputes between the countries themselves.

24 agreements on the mutual promotion and protection of investments are in effect in Montenegro, namely with: Austria, Slovakia, Serbia, Czech Republic, Denmark, Finland, Qatar, Macedonia, Malta, France, Greece, the Netherlands, Israel, Cyprus, Romania, Lithuania, USA, Germany, Poland, Spain, the Switzerland, Azerbaijan, Moldova, and the UAE.

Free trade agreements (FTAs)
Implementation of these agreements implies greater volume of trade and facilitation of foreign investments and joint access to third markets.

Montenegro has FTAs with the following countries: Russian Federation signatories of CEFTA 2006 Agreement, Turkey, Ukraine and the EFTA states.

Stabilization and Association Agreement

Following ratification by all the EU member states, the Stabilization and Association Agreement (SSA) with Montenegro came into force on 1 May 2010.

The SAA is the international agreement between the signatory and the European Union setting the legal framework for mutual cooperation and gradual harmonization with the European standards.

Decree on fostering direct investment
The Decree on fostering direct investment sets forth the financial incentives for new investment in Montenegro, as well as for expansion or diversification of the existing ones; it aims to improve the business environment and enhance the competitiveness of the economy.

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