Montenegro joins World Trade Organisation (WTO)

Podgorica, Montenegro (29 April 2012)--Today Montenegro officially became a member of the World Trade Organisation (WTO), the broadest global forum for negotiating liberalisation of international trade.

Most important benefits the WTO membership entails include: constructive dispute resolution, lower living expenses, higher export and improved quality of goods and services, and fight against corruption. Some additional benefits of membership Montenegro has recognised are positive signals expected for foreign investors and more liberal services market, negotiated in the accession process, which might bring about higher growth having in mind that services make up 2/3 of global GDP.

The Ministerial Conference, WTO's highest body, confirmed Montenegro's accession in December 2011, and the signing ceremony took place in Geneva on 17 December 2011. The accession protocol was ratified by the Parliament on 27 February 2012 and delivered on 30 March 2012.