Minister Kavarić at Western Balkan economy ministers meting in Paris: Trans-Balkan Electricity Corridor example of regional connectivity

Paris, France (4 July 2016) -- Pace of Montenegro's preparations for the construction of the Trans-Balkan Electricity Corridor, as the first project approved in Vienna, is commendable, ministers of economy of the Western Balkans concluded at today’s meeting with European Commissioner for Neighbourhood Policy Johannes Hahn, Commissioner for Transport Violeta Bulc and General Director for Energy Dominique Ristori, which was also attended by Economy Minister of Montenegro Vladimir Kavarić.

The meeting, held within the Paris Balkans Summit 2016, discussed progress made since the Vienna Summit, with special emphasis on the “connectivity agenda.” Minister Kavarić recalled that the Trans-Balkan Electricity Corridor project includes a grant of EUR 25 million, which has been provided by the EU through the Western Balkans Investment Framework for the construction of the transmission network that provides connections between Montenegro and Serbia, and afterwards with Bosnia and Herzegovina through 400 kV transmission line. In addition, these funds also envisage the implementation of projects to ensure reliability and safety of the system in the part referring to the project connecting the transmission systems of Montenegro and Italy.

The construction of wind farms in Krnovo near Nikšić, which was, among other things, discussed at a business forum, held within the Summit, was assessed as one of the most successful projects in the region.

The Business Forum was opened by French Minister of Finance and Public Accounts Michel Sapin, and, in addition to ministers of economy of the region, was attended by representatives of the European Investment Bank, the EBRD, the World Bank and the Council of Europe Development Bank, as well as business people of the Western Balkans and representatives of many French companies.

A special section of the forum was dedicated to successful experiences of the French companies in the region. French company Akuo Energy, which is building a wind farm in Krnovo, presented this project as one of the most successful in the region.

Economy Minister Kavarić presented the investment framework in Montenegro and reforms implemented with a view to creating a more competitive business environment and exchanged experiences with colleagues from the region and the European Union.

The forum commended significant progress made by Montenegro in implementing the so-called soft measures, which represent legal and regulatory reforms in the sectors of transport and energy.

Paris Balkans Summit 2016 is a continuation of the Berlin Initiative launched at the summit in Berlin in 2014 and continued at the summit in Vienna in 2015. Today's summit in Paris was another opportunity for senior representatives of the Western Balkan countries to discuss with representatives of European institutions the strengthening of regional economic cooperation and lay the foundations for sustainable growth, which are the primary targets of the Berlin process.