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Montenegro chairs CEFTA in one of the most demanding years

Montenegro chairs CEFTA in one of the most demanding years

1012-1The Ministry of Economy says that this year, in which Montenegro chairs the Central European Free Trade Agreement (CEFTA), has been one of the most demanding since the conclusion of agreement.

“The negotiations on two additional protocols – on trade facilitation and liberalization of trade in services, have been brought to conclusion in the year behind us,” the Ministry says in a press release.

The Ministry says that Montenegro, as a CEFTA Chair in Office during the year in which the agreement celebrates its 10th anniversary, has organized a CEFTA ministerial meeting in Podgorica.

“The importance of the results achieved in the first ten years of the agreement in terms of full liberalization of trade in industrial and agricultural goods, was underlined at the meeting,” the Ministry says.

According to the press release, Protocol 5 on Trade Facilitation will facilitate the transit and trade by connecting all national border services into a regional information system, which will reduce the time of transit and trade costs, strengthening in turn the competitiveness of national economies.

“Adoption of Protocol 6 will expand the liberalization achieved in the trade in goods to the services that account for the majority of trade in our economies,” the Ministry says.

The central CEFTA event of the year, CEFTA Week, focusing on the implementation of the agreement in the previous period, was opened on Wednesday in Podgorica.

Source: MINA Business News


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