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Monday, May 27, 2024
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Montenegro strengthens economic ties with Germany through BWA partnership

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The Montenegrin government is actively seeking to attract reliable investors from partner nations, and the establishment of the Federal Association for Economic Development and Foreign Trade (BWA) office in Germany signifies a pivotal step toward fostering stronger ties with the German economy.

During a meeting in Berlin, Prime Minister Milojko Spajic held discussions with BWA leaders, underscoring the considerable interest shown by companies in investing in Montenegro.

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In support of this endeavor, an office will be inaugurated in Herceg Novi this June, coinciding with a planned visit by a significant delegation of German business leaders to Montenegro. With its extensive network representing approximately 10,000 companies across over 100 countries, BWA stands as a formidable partner in this pursuit.

The primary goal is to boost foreign direct investment and facilitate the realization of larger-scale projects. The government is keen on attracting companies eager to invest in Montenegro, offering support and assistance to facilitate their endeavors. Demonstrating Montenegro’s potential through successful projects will be instrumental in this effort, with a notable appeal stemming from the country’s competitively priced electricity.

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Pavle Mikovic, Executive Director of BWA’s Montenegro office, emphasized the necessity of removing business barriers and reducing fixed labor costs to create an optimal environment for economic growth.

Prime Minister Spajic reiterated that a key priority of the government is to strengthen Montenegro’s economic ties with the European Union, making the partnership with Germany particularly significant.

With two decades of operational experience, BWA serves as a unifying force for companies spanning diverse sectors. Discussions during the meeting underscored specific areas of interest for collaboration, including agriculture, energy, and the development of artificial intelligence.

Moreover, talks encompassed significant projects such as the prospective establishment of new airports in Montenegro, generating notable interest among German investors.

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