Address by Prime Minister Igor Lukšić delivered at WTO Ministerial Conference in Geneva on 17 December 2011

Dear Mr. Chairman,

Ladies and Gentlemen,

It is an honor for me to address you on behalf of the Government of Montenegro and to express my pleasure with the fact that today, with the unanimous vote of acceptance by the member states, Montenegro will become the 156th member state of the World Trade Organisation, the most significant trade organization globally. 

Montenegro is stepping firmly down the road of integration into the European structures, which was confirmed by the last week’s decision of the European Council to open the negotiations for EU membership in June 2012. With the good neighborly relations, its internal political and economic stability, ethnic and religious diversity, attractiveness for investors, regional cooperation, cooperation at the global level, through the participation in the peace keeping missions, we represent a reliable partner in the times of the global financial and economic crisis, a country that can serve as an example to the countries on the road to integration. 

Today’s formal acceptance of Montenegro into WTO membership represents another important achievement in the process of integration into modern international economic flows. It is the confirmation of the quality of approach and credibility of the efforts invested, as well as the results of the Government in the past six years. Through our commitment and endeavors we proved that we are open and ready to operate according to the principles of the developed world and that we belong to the most eminent global free trade family. 

With its membership in the WTO, Montenegro accepts the duty to observe the internationally adopted rules of operation. In this way, we provide equal treatment to our enterprises abroad, and send another positive signal to the foreign investors. Through the free trade agreements with the EU, EFTA, Turkey, Ukraine, and soon with Russia, Belarus and Kazakhstan, we demonstrated that our economy is open. These comparative advantages in foreign relations, together with internal efforts to improve the business environment and reduce business barriers, make Montenegro competitive in the global market. 

As the experience of other member states has shown, I believe that the membership of Montenegro in the WTO will lead to an increase in foreign direct investments, faster transfer of technologies, strengthening of competitiveness of the local producers, as a prerequisite for sustainable growth and development of our economy, and the improved quality of life of each and every citizen. 

Thus, the membership of Montenegro in the WTO is even more important, especially having in mind that the financial crisis is not over yet, and that Europe is still suffering from its consequences. I am encouraged by the fact that a number of local businesses have positioned themselves successfully in the regional and wider markets, thus confirming their competitiveness, and I am certain that, after the today’s accession to the WTO, their number will continue to grow. 

Thank you for your attention.