Milatović: Bilateral cooperation between Montenegro and China is characterised by good economic relations

The 2nd China-Central and Eastern European Countries (CEEC) Expo opened in Ningbo, east China's Zhejiang Province on 8 June 2021.

Minister of Economic Development Jakov Milatović participated in this important Forum and sent a strong message about the importance of good bilateral relations between Montenegro and China.

"It is my great honour to participate in the China-CEEC Cooperation Forum and to discuss new visions and shared opportunities of the ministers 17+1 Initiative all for the sake of enhacing the economic and trade cooperation.

At the very beginning, I would like to highlight that bilateral cooperation between Montenegro and China is characterised by good economic relations, underpinned by a solid legal framework, including Agreement on economic and trade cooperation, Agreement on economic and technical cooperation, Agreement on cooperation in the field of infrastructure, Memoranum of Understanding on Cooperation within the Framework of the Belt and Road Initiative, and many others. I would also like to emphasise that the Initiative 17+1 resulted in an increase interest of Chinese companies for Montenegro. Thus, we recorded the highest FDI inflow from China in 2020 of 71 million euros, in comparison to the previous period.

Moreover, trade in goods between Montenegro and China in 2020 was significant for our standards, with imports of 218 million euros and exports of 22,1 million euros, leaving, nevertheless, a vast space for finding new modalities to increase exports. Therefore, we reiterate our support expressed during the 9^th Summit Cina-CEEC held in February 2021 regarding the increased exports of agricultural products from 17 member countries to China, as well as cooperation in the field of sustainable development.

Today's meeting is also an opportunity to point out that in the context of COVID-19, the Government of Montenegro, recognising the importance of a funcional international trade, has offered the countries of the region to import, export, and transit goods through our Port of Bar.

It is of utmost importance for Montenegro, as the most advanced EU candidate country, that all activities and projects included in the Initiative 17+1 are compatible with the obligations arising from the Stabilisation and Association Agreement, ensuring coherence with the EU policies. On the other hand, I would also like to underline that Montenegro recognizes the Belt and Road Initiative as the most important economic and trade inititative of China, providing us a significant platform for further development of bilateral relations.

Hoping that we will continue our cooperation in all fileds of interests, I would like to thank you for your attention," Minister Milatović concluded.

The forum was closed by Zheng Shanjie, Governor of Zhejiang Province.