Government decisions made at the teleconference session held on 24 March 2025

At today’s teleconference session, the Government of Montenegro adopted the Proposal for the basis for negotiations and conclusion of an Agreement on cooperation in tourism and real estate development between the Government of Montenegro and the Government of the United Arab Emirates (UAE).

This document will establish a legal framework for further enhancing economic cooperation in tourism, focusing on projects in both the southern and northern regions of Montenegro.

The Agreement outlines the development of projects in southern Montenegro and ski resorts in the northern region, as part of an integrated approach to tourism and mixed-use real estate development.

Based on jointly identified projects of strategic importance and public interest for the economic development of both countries, the Government of the UAE proposes and guarantees that investors based in the United Arab Emirates will collaborate with the Government of Montenegro through private sector entities to ensure the full feasibility and implementation of the projects.

The Agreement also provides for the establishment of a Joint Commission responsible for monitoring project implementation.

The document will be concluded for a period of five years and will automatically be renewed for consecutive five-year periods unless one of the parties decides to terminate it. Furthermore, with mutual agreement, both parties may amend and supplement the Agreement through special protocols, which will become an integral part of the Agreement.

It should be noted that on 21 March 2025, the Government adopted the Proposal for the basis for negotiations and conclusion of an Agreement between the Government of Montenegro and the Government of the UAE on economic cooperation and accepted the text of the Agreement.

This document establishes a legal framework for further enhancement of economic cooperation in areas identified as mutually beneficial, including but not limited to: telecommunications, aviation cooperation, investments and investment promotion, infrastructure, construction, trade in goods and services, tourism, small and medium-sized enterprises, agriculture, e-governance, and other areas of economic, technical, and trade cooperation to be mutually agreed upon.

Earlier today, Prime Minister Milojko Spajić held meetings with the presidents of the southern and northern municipalities, where it was presented that the Government had adopted the framework Agreement on Economic Cooperation with the UAE. The municipal leaders were invited to submit proposals for potential ideas and development projects that could be presented to the UAE authorities during the Prime Minister’s upcoming official visit to the country.

At today’s session, the platform for the Prime Minister’s and delegation’s trip for negotiations and the conclusion of the Agreement on Economic Cooperation between the Government of Montenegro and the Government of the UAE was also established.

Additionally, upon the proposal of the Ministry of Spatial Planning, Urbanism, and State Property, the Government appointed Bajko Vučićević as Acting Assistant Director of the Directorate for State Property.