Montenegro opened Chapter 17 Economic and Monetary Policy

Today Montenegro opened Chapter 17 Economic and Monetary Policy at the Intergovernmental Conference which took place in Luxembourg.

It is jointly recognized that the opening of this chapter, as well as further work in this area, is of great importance for adapting to the principles of an open market economy based on free competition, the policy of the single currency, and the achievement and maintenance of price stability.

In his address to the representatives of the member states and the European Commission, the head of Montenegrin delegation, Minister of Foreign Affairs Srdjan Darmanovic, pointed out that thanks to the dedicated work of all Montenegrin institutions Montenegro now has 31 opened chapters. He also added that three chapters are already temporarily closed, and expressed the expectation that the remaining two, Chapter 8 –

Competition and Chapter 27 – Environment, will be opened by the end of this year.

Speaking about the importance of Chapter 17, Minister Darmanovic pointed out that Montenegro has already achieved significant results in this area, in the fulfillment of its obligations under the Stabilization and Association Agreement. "This chapter is of special importance for the open, successful and euroized economy of Montenegro. In that sense, we have already undertaken numerous activities that open the way for further economic and financial growth, and we will use the next few months for further strengthening and acceleration both economic and political reforms."

Negotiator for Chapter 17, Vice Governor of the Central Bank of Montenegro, Nikola Fabris, said that, with the already achieved progress in this area, after the opening of chapter 17, Montenegro will continue to harmonize its legal framework with European legislation in order to improve the transparency and sustainability of public finances, reduction of transaction costs, facilitating international trade, increasing mobility as well as full integration of the Central Bank of Montenegro into the European System of Central Banks.

European Commissioner for Neighborhood Policy and Enlargement Negotiations Johannes Hahn said that the opening of negotiations in Chapter 17 represents another important step forward on the European path, expressing the expectation that Montenegro will continue to fulfill its commitments from the European agenda. He said that Montenegro had made the most progress in negotiations with the EU, and that the priority, in the upcoming period, should be the rule of law. Commissioner Hahn reiterated that the European Commission will continue to support the integration of Montenegro into the EU, including expert and financial assistance.

Chairperson of the Council of the EU, Bulgarian Foreign Minister Ekaterina Zaharieva said that the opening of another negotiating chapter represents the confirmation of Montenegro's continued progress and fulfillment of the conditions for EU membership. She recalled the commitment of Bulgaria's chairmanship to the Council of the EU of the enlargement policy and the European future of the Western Balkans, especially highlighting the role of Montenegro in this context.

MINISTRY OF FOREIGN AFFAIRS
SECTOR FOR INFORMING THE PUBLIC ABOUT THE EU AND THE EU ACCESSION PROCESS IN THE GENERAL SECRETARIAT OF THE GOVERNMENT