Fifth session of Montenegro-China joint committee: Montenegro plays significant role in expanding Chinese investment in Central and Eastern Europe

Ningbo, China (8 June 2015) -- Fifth session of the Joint Committee for economic and trade cooperation between Montenegro and China was held earlier today in Ningbo, China. On behalf of Montenegro, the session was attended by Deputy Prime Minister Vujica Lazović and Minister of Transport and Maritime Affairs Ivan Brajović.

DPM Lazović informed representatives of the Chinese government in the Joint Committee about the projects that were implemented between the two sessions. Both sides voiced satisfaction over the established cooperation and noted the progress achieved in economic and trade relations between the two countries, primarily related to the project of the Bar-Boljare highway’s priority section, which will be built by the support of the Chinese state and which construction has already began. The meeting also addressed purchase of four ships from China that are already placed in service, the interest showed by Chinese ICT companies that have opened their offices in Montenegro and a series of trainings and seminars the Chinese Government funded and sponsored for Montenegrin officials in various fields.

Trade exchange has progressed since 2010, both in Chinese import and export of Montenegrin products to the Chinese market, the meeting underlined.

Minister Brajović informed the Chinese representatives about the start of the Montenegro highway’s construction and potentials for Chinese investment in the country’s road infrastructure. Both sides pledged full support to intensifying work on the highway’s construction in order to respect quality and dynamics as recommendations for future investments in Montenegro and the region.

The Chinese side supported the proposal to continue economic and trade cooperation, stressing Montenegro's geo-strategic position and its significance for Central and Eastern Europe. It was noted that possibilities for placement of Montenegrin products in the Chinese market are huge and that direct cooperation between Chinese and Montenegrin entrepreneurs may result in improving trade relations.

The interest showed by Chinese investors and the funds China is committed to investing in Central and Eastern Europe are good opportunities for projects implementation, namely in the energy sector, such as construction of hydro power plants in which Chinese companies take primacy in the world.

China’s representatives also backed up the Chinese companies’ participation in the construction of road, railway and port infrastructure, as the basis of regional cohesion and economic and trade expansion. It was stated that Chinese tourists appreciate Montenegro's tourism potential, emphasising and its proper promotion can make the number of visits of Chinese tourists grow. 

Production of solar panels in Montenegro that would be placed on the European market also creates space for boosting economic collaboration between the two countries, the session concluded.