Montenegro's presence on the world stage grows - Emerging Real Estate

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 Montenegro’s presence on the world stage grows.

A number of interesting reports are coming out of Montenegro at the moment which supports our long held view that his beautiful country is going from strength to strength. On 17^th December at the Ministerial Conference in Geneva, the WTO adopted Montenegro’s WTO terms of entry and Montenegro now have until 31^st March 2012 to ratify its accession package. After 30 days from notification of this ratification, Montenegro will become a fully fledged WTO member.

Pascal Lamy, Director-General of the WTO commented that “WTO membership will enhance Montenegro’s capacity to be more competitive in trade through policy and legislative reforms. It will also provide Montenegro with the WTO label which is so important to attract investors”. The Prime Minister of Montenegro, Igor Luksic, confirmed his belief that this accession will help Montenegro build their “competitive and dynamic economy” and also increase the visibility of Montenegro in global affairs and trade, and Dr Vladimir Kavaric, Minister of the Economy, said “this accession also shows Montenegro’s ability to integrate into the international community”.

Montenegro’s standing on the world stage has been dealt a further boost by the signing of an open skies air service agreement by the USA and Montenegro that will benefit their bilateral aviation relationship. It allows for airlines from either country to fly to and from each other’s territory without restriction on carrier flight frequency, aircraft type or prices. Mark Toner, State Department Deputy Spokesperson, said recently “this agreement will strengthen and expand our strong trade and tourism links to Montenegro, benefiting UK and Montenegrin businesses and travellers by expanding opportunities for air services”.

In more local news, Tivat airport has increased its visitor numbers again this year, with 2011 showing as the strongest year on record since it opened in 1971. Passenger numbers had increased by an impressive 19.2% by the end of last month, handling 11.5% more flights that the same period last year. These figures mean Tivat airport will even be ahead of Sarejevo and Podgorica.

The future is certainly bright for Montenegro. To discuss any of our fantastic investment opportunities in the country please do not hesitate to contact us at Emerging Real Estate.