The Berlin Process, a key initiative aimed at enhancing regional cooperation in the Western Balkans, celebrates ten years of significant achievements and transformations. This evolving process has fostered economic ties and improved business conditions across the region. At the 13th Economic Conference “Montenegro 2024 – A Decade of the Berlin Process”, organized by the Chamber of Commerce in collaboration with the Eastern Committee of German Business, discussions focused on the potential of free movement of labor and creating a favorable business environment. Supported by German businesses, the Berlin Process serves as a platform guiding the region toward stability, progress and EU integration.
Synergy for stability in the Western Balkans
Nina Drakić, President of the Chamber of Commerce, emphasized that the Berlin Process has transformed regional cooperation. “One of its most crucial aspects is its contribution to economic integration, directly enhancing the business environment,” she stated.
Drakić pointed out that free movement of labor within the region could potentially increase GDP by 1.3% as early as next year. Projections suggest that a favorable and competitive environment could lead to an annual growth increase of 2%, attracting up to 6.5% more investments and raising job growth by 1% annually, with small and medium-sized enterprises boosting productivity by 5 to 10%. “The Berlin Process is a platform enabling us to work synergistically towards a more stable, connected, and prosperous Western Balkans,” she added.
She underlined that regional cooperation is foundational for stability and progress, serving as a vital tool for renewed integration efforts toward the EU.
Prime Minister Milojko Spajić stated that the government is fully committed to enhancing the competitiveness of Montenegro’s economy by reducing business barriers and improving the business environment. “Our economic reforms aim to create a predictable, transparent, and supportive tax policy, fostering development and investment”, he explained. He highlighted the need for progress in the rule of law, meeting European agenda requirements, and developing infrastructure to harness Montenegro’s economic potential and make it an attractive place for business and investment.
During the first two panels of the Montenegro 2024 Economic Conference, topics included economic opportunities arising from the Berlin Process and experiences from entrepreneurs in Germany, Montenegro and the region.
CEFTA and regional optimism
Dr. Gordana Đurović, a professor at the Faculty of Economics, noted that regional convergence is progressing positively. “The Berlin Process has achieved impressive results, significantly contributing to economic transition and regional dialogue”, she remarked. The unblocking of the CEFTA agreement symbolizes dialogue and strengthened cooperation in the region.
According to Đurović, CEFTA fosters optimism for more mobility agreements and collaboration opportunities, praising the Agreement on Access to Higher Education for contributing to mobility. “Every country should be pleased with the outcomes of the Berlin Process, which have exceeded expectations”, she concluded.
Strategic EU integration commitment
Ernad Suljević, Minister of Regional and Investment Development, reaffirmed the government’s commitment to the EU integration process. “We are working on new strategies to expedite our approach to the EU. The last decade has seen significant activities related to fostering good-neighborly relations and combating organized crime and corruption,” he noted, aiming for Montenegro to officially join the EU by 2028.
Foreign direct investments surge
Ricardo Giucci, Executive Director of the German Economic Team, reported impressive foreign direct investments (FDI) in the region, averaging 5.8% of GDP. In Montenegro, FDI has reached 10% of total GDP annually, double the regional average, indicating positive economic developments. “This trend underscores the potential for growth and investment in the region,” Giucci concluded.
