UAE, Montenegro agree to expand joint economic cooperation in vital sectors

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DUBAI: The UAE and Montenegro have agreed to bolster cooperation across areas of trade, investment, agriculture, food security, renewable energy, transport, entrepreneurship, start-ups, and innovative industries during the second meeting of the Joint Economic Committee held in Dubai.

The two sides affirmed their interest in diversifying the base of economic exchange, generating more promising investment and business opportunities, sharing expertise and increasing joint investment.

The two sides discussed the possibility of operating direct flights between the two countries to facilitate the movement of investors, traders and businessmen and boost tourism exchange.

Sultan bin Saeed Al Mansouri, Minister of Economy, who co-chaired the meeting with Dragica Sekulic, Montenegro’s Economy Minister, said the UAE’s economic plans seek to take Montenegro as a key trading partner in the Balkan region as the UAE will be the main gateway for the Balkan country into the Arab markets.

“Two-way non-oil trade reached US$21 million in the first half of 2019 and $31.2 million by the end of 2018,” Al Mansouri said.

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“We are looking forward to a new chapter of cooperation with between the UAE and Montenegro, driven by available economic resources and opportunities and constructive partnerships,” he added.

“The UAE has been the largest foreign investor in vital sectors in her country in 2017 and 2018 and I hope this momentum continues for years to come,” Sekulic said.

She added that her government is currently working on a flexible plan to attract foreign investors and is hoping to attract more Emirati investors.

According to her, there are wide prospects for joint economic cooperation and new partnerships.

On Expo Dubai 2020, her country would use the ideal platform to connect with global investors and promote Montenegro’s trade potential, she said in conclusion.

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