Focus placed on closer economic cooperation between Montenegro and Italy

President of Montenegro Jakov Milatovic has said that the establishment of a closer economic cooperation and economic diplomacy between Montenegro and Italy are in the focus of his activities.

According to a press release issued by the President’s Information Office, Milatovic met with representatives of the Union of Chambers of Commerce and Terna during his official visit to Italy to discuss strengthening economic ties between the two countries.

The meeting was attended by President of the Chamber of Commerce of Montenegro (PKCG) Nina Drakic.

Milatovic stated that that the geographical and cultural proximity between Montenegro and Italy provided a natural foundation for strengthening their economic ties.

“It seems to me that, after the construction of the submarine power cable, economic cooperation between our countries has somewhat slowed down. I believe it is the right time to revive and strengthen it, not only in the energy sector but also in the field of infrastructure and tourism,” Milatovic stated at the meeting with representatives of the Union of Chambers of Commerce.

He reminded that the investments of Italian companies in Montenegro had amounted to €57 million in 2022, while the trade exchange between the two countries totalled €129 million in the first half of 2023.

The President’s Office stated that Milatovic had also met with Chief Executive Officer of Terna Giuseppina Di Foggia.

“He said at the meeting that Montenegro was interested in creating conditions for the construction of a second submarine power cable with Italy, which would make Montenegro an energy hub connecting Italy with the countries of the Western Balkans,” stated the press release.