Montenegro on track to become 28th EU member

Significant progress in EU integration process and the successful completion of numerous reform processes have drawn the attention of a large number of German businesspeople, who are once again considering Montenegro as an investment destination. This positive reputation was evident by the number of attendees at the annual reception of the German Eastern Business Association, where Prime Minister Milojko Spajić delivered a speech and answered questions from interested leaders of prominent companies.

Over 150 representatives from German state institutions, member companies of the German Eastern Business Association, and members of the diplomatic corps were given insights into the advantages of investing in Montenegro, a leader in EU integration process and the next member of the large European family.

German businesspeople also share this hope, as conveyed by the Chairwoman of the German Eastern Business Association, Cathrina Claas-Mühlhäuser, from the stage where Albert Einstein first presented the theory of relativity.

By inviting you, Prime Minister Spajić, we wanted to send a clear message to decision-makers to open borders and expand the EU, to allow other countries access to the market. I hope we will soon welcome Montenegro as the 28th member of the European Union, said Claas-Mühlhäuser, adding:

"Only a united Europe can prosper in these unstable times."

The reform processes over the past seven months have yielded results, but there is still much work ahead for the Government to reach EU standards and for Montenegro to become part of the single market, which is vital for strengthening the economy, emphasised the Prime Minister in the Archenhold Observatory building.

It’s a great idea to hold the event here because Montenegro is in a way a rising star, and I hope it can be seen from here. We are small on the world map, but I promise it’s worth looking through the telescope, as Montenegro has so much to offer, the Prime Minister said in his introduction, adding:

"Montenegro has a very dynamic economy, which in the past three years has had remarkable economic growth at rates of 13%, 6.4%, and 6%. This has placed us among the fastest-growing economies in the world and confirmed our great economic potential. This trend continues in 2024 as we were also among the top European economies with the highest growth in the first quarter."

The rule of law is undoubtedly a topic of particular importance for attracting credible investors. Therefore, receiving the Interim Benchmark Assessment Report (IBAR), as noted by the Prime Minister, is another signal to everyone in the EU that Montenegro is finally demonstrating in practice that it is worthy of membership in the European family and ready to adopt the values it upholds.

The increasingly certain successful end of the integration process is not the only new thing Montenegro offers to investors. The Government is also working hard on improving tax policy and the agility of the administration to meet the demands of businesspeople. Praise came from the audience, from German businesspeople operating in our country.

I truly believe that Montenegro has unlimited potential, and to fully realize it, it is necessary to work on developing infrastructure. Therefore, by 2030, we want to connect Montenegro with the European Union in every aspect. We will improve airports, reconstruct railways, build highways and express roads, thus paving the way for Montenegro’s economy to reach the top, emphasised Spajić.

German tourist companies have already shown interest and are working on bringing a larger number of guests from Germany. This opens space for further development of accommodation capacities and the growth of other economic sectors, such as agriculture.

The overall progress of the entire region could be brought about by implementing ideas from the Berlin Process.

The Berlin Process is very important to us; until recently, we were the last in meeting the conditions, and now we are leaders in that regard. At the Summit in Kotor, we discussed how to resolve or at least set aside certain bilateral problems so we could move forward with some important topics for the standard of living of our citizens. The Berlin Process is an excellent way to bring the region closer and jointly strengthen the economic standard, concluded the Prime Minister.

At the end of the event, Prime Minister Spajić received a statue of Albert Einstein as a gift.