Beijing: Montenegro and China sign Memorandum of understanding within "Belt and Road“ initiative

Beijing, China (15 May 2017) – Minister of Economy Dragica Sekulić signed yesterday the Memorandum of understanding between the governments of Montenegro and China within the framework of Silk Road Economic Belt and 21st century Maritime Silk Road Initiative.

Minister of Economy Dragica Sekulić and Chairman of the National Development and Reform Commission of China He Lifeng signed the memorandum aimed at implementing the "Belt and Road“ initiative and promoting cooperation between the two countries.

Having in mind the established political consensus between Montenegro and China to promote the “Belt and Road” initiatives, the parties under this memorandum will join forces to create synergy between the “Belt and Road” initiative and national development strategies in order to improve coordination of policies and boost cooperation for peaceful development and common prosperity of both countries.

This Initiative will help the two countries boost cooperation and reach goals set out within this framework, thus creating an opportunity for exchanging experience and development of exchange programmes. The parties under this memorandum are set to intensify cooperation, boost ties and joint efforts towards establishing economic corridors and promoting development of the region.

At the opening of the forum, President of China Xi Jinping made opening remarks regarding the importance of the Silk Road, stressing that the initiative is widening horizons and chances for prosperity. “Belt and Road” initiative has invested 4 billion dollars so far, President Jinping highlighted, adding that the idea is to pursue this good trend in the coming period. He also explained that the China’s banking system will develop new forms of loans aimed at helping countries engaged in the initiative reach funds for investment projects. In the next three years, China will provide 3 billion yuan to the developing countries which are members of the Initiative, he pointed out.