Montenegro, Azerbaijan should focus on industry, tourism, energy: PM (Exclusive)

Business Materials 1 June 2017 21:35 (UTC +04:00)

Baku, Azerbaijan, June 1

By Azad Hasanli – Trend:

Montenegro and Azerbaijan should focus on the sectors of industry, tourism, energy, agriculture, transport, construction, science and technology, Montenegrin Prime Minister Dusko Markovic said in an exclusive interview with Trend.

“Having successfully implemented its strategic decisions – restoration of independence, membership in NATO, progress on the path towards the European Union, Montenegro wants to concentrate more on strengthening of its economy,” he said. “In this context, it is very important that good political relations with many countries, including Azerbaijan, are enriched with high-quality economic cooperation.”

“There is huge potential to enhance the current trade and economic relations through the implementation of bilateral agreements between Montenegro and Azerbaijan,” Markovic said.

“Direct investments from Azerbaijan amounted to 47.15 million euros in 2016 and accounted for circa 6.9 percent of the total influx of investments last year,” he said. “Over the past years, the influx was lower and we expect positive trend in the coming years.”

Regarding trade relations, Markovic said the total share in exports is very small and there is room to improve trade between the two countries.

Markovic added that the successfully launched investment projects of Azerbaijan in Montenegro in tourism and banking sector represent a good foundation for deepening cooperation between the two countries, as well as encouragement for the implementation of other projects of mutual interest.

“Companies from Azerbaijan have expressed considerable interest in implementation of road infrastructure projects,” he said. “In addition, it is important to emphasize the strong interest of Montenegro to be part of a major project of construction of the Trans-Adriatic Pipeline, which should, according to preliminary data, enter Montenegro from Albania (near a place called Štodra), and exit near Čipavica bay in Croatia.”

“Taking into account the great potential of the construction market of Azerbaijan and the Caspian region, as well as experience and work ethic of the Montenegrin construction companies, we believe that this sector of the economy of Azerbaijan could be interesting to Montenegrin companies,” Markovic added.