Montenegro to join the EU

Posted on: 25/06/2015

On 22 June 2015, two new chapters were opened for the negotiating process for Montenegro's accession to the European Union (EU), namely chapter 9 on financial services and chapter 21 on trans-European networks. Montenegro has committed itself to align national regulations in the field of insurance, investment services and finances, e.g. financial market infrastructure, with the requirements of the EU. In relation to chapter 21, the EU plans to engage Montenegro in the development of a trans-European transport network as well as related projects in the transport sector.

In addition, Montenegro announced the establishment of a new Anti-Corruption Agency in January 2016, which will be responsible for carrying out financial investigations and consequently confiscating assets if necessary. The EU also encouraged Montenegro to amend its legislation on public administration and general administrative procedures. Reforms regarding border issues with other countries of the region are also foresee.  These include the signing of a border agreement with Bosnia and Herzegovina. In regards to trade, Montenegro has vowed to continue developing a favourable business environment for importers and other investors.


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