Montenegro proves to be a reliable partner; Economic Cooperation Memorandum set to strengthen relations with the U.S.

Deputy Prime Minister for Economic Policy and Minister of Economic Development Nik Gjeloshaj and Under Secretary for Economic Growth, Energy and the Environment at the U.S. Department of State Jose W. Fernandez signed a Memorandum of Economic Cooperation today in Washington, D.C., between the governments of Montenegro and the United States.

Both signatories emphasised that the Memorandum marks a pivotal outcome of years of joint efforts, serving as a foundation for further collaboration between the economic sectors of the two nations.

The United States is a true friend of Montenegro, and our ongoing economic dialogue reaffirms our constructive partnership. It is essential that we continuously identify new areas for joint economic development through the dedicated work of our administrations, ensuring their full implementation, stated Deputy Prime Minister Gjeloshaj.

Discussions were also held on cooperation in areas such as investment security and addressing non-market policies and practices.

Under Secretary Fernandez highlighted that the Memorandum aims to strengthen cooperation between the United States and Montenegro, expand bilateral trade and investment, and support the regional economy, benefitting both American and Montenegrin workers and businesses.

Montenegro has proven itself to be a reliable partner. I congratulate you on receiving a positive IBAR, which is recognised as a challenging accomplishment, particularly in advancing the rule of law. We believe your efforts and progress will pay off, and Montenegro will become an ideal location for more efficient business operations and investments, said Under Secretary Fernandez.

Deputy Prime Minister Gjeloshaj emphasised that through the joint efforts of both governments and their economic entities, a favourable environment for investment and trade can be fostered, driving economic growth and development in both countries.

I encourage American companies to recognise Montenegro as a secure investment destination. With clear economic predictability, a recognisable investment environment, and a strong commitment to fighting corruption, Montenegro is creating a safe haven for investors. Currently, there are over 240 American companies active in various sectors in Montenegro, said Deputy Prime Minister Gjeloshaj.

The signing of the Memorandum was attended by U.S. Ambassador to Montenegro, Judy Rising Reinke; Montenegro's Ambassador to the U.S., Jovan Mirković, along with senior members of the U.S. administration and Montenegrin delegation, including Energy Minister Saša Mujović, Maritime Affairs Minister Filip Radulović, Public Administration Minister Marash Dukaj, and Minister of Mining, Oil, and Gas Admir Šahmanović.