EFTA and Montenegro review implementation of new free trade agreement

Published 28-04-2014
The Joint Committee established under the free trade agreement (FTA) between the EFTA States and Montenegro convened for its first meeting on 25 April 2014 in Podgorica.

The EFTA-Montenegro FTA was signed in November 2011 and has been operational for all five Parties since November 2012. The Joint Committee took stock of developments during this initial period of application. It welcomed the smooth implementation of the FTA and positive trends in bilateral merchandise trade, which reached USD 16 million in 2013. In a separate setting, experts focused on matters relating to customs and rules of origin.

The EFTA team in the Joint Committee was led by Ambassador Norbert Frick from Liechtenstein, while Deputy Minister Goran Šćepanović, Ministry of Economy, headed the Montenegrin delegation.

Apart from merchandise trade, EFTA-based companies also have a presence as investors in Montenegro, notably in the telecommunications sector.