Economy Minister Kavarić attends Investment Conference in Berlin: Regional cooperation key to attracting investment

    Berlin, Germany (28 August 2014) — Energy markets in all Western Balkan’s countries are similar, with a deficit in energy production in most countries of the region. Therefore, there is a clear need to link these markets and develop a joint approach, it was concluded earlier today at the Investment Conference, which was organised earlier today in Berlin, within the Western Balkans Conference.

    The conference, attended by economy ministers of the Western Balkan countries and chaired by German Vice-Chancellor and Minister of Economy Sigmar Gabriel, Montenegro was represented by Minister of Economy Vladimir Kavarić, who presented major projects of regional and European significance in the energy and transport sectors.

    Conference participants expressed their willingness to boost regional cooperation in the two areas, particularly when it comes to developing energy and road infrastructure. In this context, the conference highlighted the importance of the projects of Adriatic-Ionian Gas Pipeline (IAP), underwater energy cable between Montenegro and Italy as well as the Bar-Boljari and Adriatic-Ionian motorways.

    Given that all countries in the region have been affected by the economic crisis, which resulted in unemployment increase, the meeting concluded that regional cooperation is essential for attracting foreign direct investment and creating new jobs. In this regard, all countries have presented their actions and results in developing a favorable business climate for investment, including administrative reforms, development of vocational education and fight against corruption.

    It was concluded that the regional conference, which will be sponsored by the Committee on Eastern European Economic Relations, is crucial as it will be an opportunity for representatives of German companies to meet with economy ministers of the region and discuss investment opportunities and challenges related to regional cooperation.

    Source: Government of Montenegro