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Russia invests €70 mln in Montenegro

The total amount of foreign investments in Montenegro reached €640 million in 2006, including €70 million ($95 million) from Russia.

The data was made public by Montenegrin foreign minister Milan Roćen on Friday after talks with his Russian counterpart Sergei Lavrov. “The Russian-Montenegrin relations are on the rise,” Roćen said, adding, “We are honored to receive the foreign minister of friendly Russia on his first state visit [to this country].” “We are meeting again in Podgorica, slightly less than a month after my first visit to Moscow,” Roćen said. “This confirms the fact that our relations are on the rise.” “I think, the world has seen few examples of such a great friendship between a small country, Montenegro, and such a large power as Russia,” the minister added. In his words, Montenegro “creates all conditions for drawing foreign investments.” “Russia’s leading companies, such as RUSAL, are already operating here,” Roćen said, adding, “we are going to create the most favorable conditions for activity of foreign investors in our country.” According to him, Montenegro and Russia plan to sign a free trade agreement in the near future.

Earlier, Russia and the State Union of Serbia and Montenegro had similar agreement. “That agreement was an exclusive example of interaction between Russia and a foreign country,” Roćen went on to say. “I hope a new such document will be concluded with Montenegro soon,” he said. Roćen expressed hope that Russian companies will take an active part in the implementation of new projects, including development of the infrastructure, building of hydropower plants, as well as construction of a road to the border with Serbia. (