The Government of Montenegro, through its Ministry of Finance, is set to implement a state-supported export insurance program aimed at enhancing the competitiveness of Montenegrin companies in international markets. The Development Bank of Montenegro will function as the export-credit agency, providing insurance against non-market risks for exporters of goods and services. This initiative seeks to address a gap in the private insurance market, where such risks are frequently excluded, thereby facilitating cross-border trade for domestic enterprises.
The Ministry of Finance has indicated that the export insurance will cover non-market risks, including both commercial and political uncertainties that are typically not included in standard private insurance policies. This approach aims to alleviate concerns for exporters engaged in international sales. The draft regulation has been evaluated by the Agency for Protection of Competition, which determined that it does not qualify as state aid since it pertains only to risks outside the purview of existing European Union export-credit insurance regulations. The agency did advise that any future coverage for temporary non-market risks might be interpreted as state aid and would need to adhere to relevant legal requirements.
The proposed regulatory framework is consistent with European Union directives related to export-credit insurance and financing, ensuring compliance with international standards. By enabling the Development Bank to underwrite certain export risks on behalf of the state, Montenegro aims to provide exporters with increased assurance when entering new markets, especially in situations where commercial insurance is either unavailable or excessively costly.
This initiative is part of a broader strategy to enhance export competitiveness, attract foreign investment, and support the globalization of Montenegrin businesses. It seeks to tackle structural challenges affecting the country’s trade performance while promoting diversification into export-oriented sectors.
