. /.   WORLD TRADE  
ORGANIZATION   
WT/MIN(11)/ST/90 
17 December 2011  
 
(11-6663) 
MINISTERIAL CONFERENCE 
Eighth Session Geneva, 15 - 17 December 2011 Original:   English 
 
  
MONTENEGRO 
 
Statement by H.E. Dr Vladimir Kavaric 
Minister of Economy 
(speaking as an Observer) 
  
I would like to thank to all ministers,  who have with today's approval of 
Montenegrin accession to WTO confirmed that our country has capacities to become a Member of the 
largest trade family in the world.  This is an ex ceptional reward for a small economy, such as ours.  I 
am convinced that we have prove d through negotiations our construc tiveness and initiative.  We have 
also proved that we have capacities to ne gotiate even on the most sensitive issues. 
 
Once again I would like to express my sincere thanks for the support given during 
negotiations by EU, with whom we have also concluded first bilateral negotiations, USA and 
Slovenia.  We also owe special thanks to Ambassador Andrej Logar, Chairman of the Working Group for Accession of Montenegro to WTO, as well as to the staff of the WTO Accessions Division, led by 
the Director, Chiedu Osakwe.  
Accession to the WTO is very important for Montenegro in the times of crisis.  We are 
convinced that Membership in a multilateral trade system will contribute to even more efficient 
recovery of Montenegrin economy.  
The year 2011 is resembled by the recovery of  Montenegro in almost all sectors, with the 
GDP growth at the projected level of 2.5 per cent.  Unemployment is lower than in the same period of 
2010. 
 
In order to also achieve continuous long-t erm economic growth, our economic policy in 2011 
was based on the foundations of fi scal and financial stability, structural reforms and improvement of 
business environment. 
 
And we have received rewards.  This year, again, Montenegro obtained good positions in 
respect to all world indicators on the ease of doi ng business.  In parallel with successful bond 
emission, credit rating agency Moody's  gave compliments to the step forward made in respect to the 
budget positions.  After two years it has changed ra ting prospects of Montenegro from negative to 
stable. 
 
Experience has shown that the main advant ages of a Membership in the World Trade 
Organization is a constructive way of solving disputes, a system based on rules, lower costs of life, 
better choice of goods and services and their higher qua lity, growth of foreign trade exchange.  In 
practice, this means an improved quality of life for our citizens, because under the conditions of 
openness one can produce and spend more than in a "closed" economy. 
 WT/MIN(11)/ST/90 
Page 2  
 
  With the accession of Montenegro to this resp ected Organization, our country is sending 
another positive signal to forei gn investors regarding the fulfilment of internationally accepted 
business rules.  Montenegro is committed to becomi ng a destination wherefrom investors could have 
cheap access to the global market.  In such cont ext, we have been intensively working on signing 
free trade agreements.  Free trade agreements with  EU, CEFTA countries and Turkey are already in 
force.  Moreover, agreements with Ukraine and EFTA countries have been signed and negotiations on 
signing FTA with Russia, Byelorussia and Kazakhstan are in the final stage.  
This is to be additionally stre ngthened with the WTO Membership. 
 
Policies of the Government of Montenegro are directed primarily to improving the quality of 
life for our citizens.  Integration processes and mark et liberalization is the right path towards the 
creation of long-term economic growth.  Today's accession of Montenegro to the WTO is another step in such direction.  
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