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New impetus behind business relations between Monaco and the Small States of Europe

Organised on the sidelines of the 18th Small States of Europe games held in Montenegro, the Monaco Economic Board participated in the first Small States Business Forum in Becici attended by HSH Prince Albert II. Synergies have emerged from similarities that now only need to be acted upon.                                                                

Two coastal nations, enjoying a mild climate and mountainous interior are points in common that spring to mind when one considers the Principality and Montenegro. Business links already exist between the two countries: in 2013 Montenegro’s Chamber of Commerce and the MEB signed an agreement, then in 2017 Monaco hosted a delegation of Montenegrin entrepreneurs.

Opening the Business Forum held on Wednesday 29 May, HSH Prince Albert II welcomed the event, highlighting similarities between the different states and their respective economies.

For Montenegro, its Economy Minister Mrs Dragica Sekulić was delighted to see so many attendees and took the opportunity to outline her country’s advantages, followed by Chamber of Commerce President Mr Vlastimir Golubović who stressed Montenegrin areas of expertise.

Each country then had the chance to present their strengths and business opportunities, including innovation projects. As well as Monaco and Montenegro, representatives from Andorra, Liechtenstein and San Marino took the floor before the Forum ended on a constructive round table discussion.

As for the MEB, its Executive Director General Guillaume Rose, and Monaco Invest Director Justin Highman, spoke about the economy and the MonacoTech centre of excellence, with emphasis on the  Extended Monaco – Smart Principality programme.

Several agreements were signed in the presence of HSH Prince Albert II, including a cooperation agreement with MEB counterparts in the Small States Chambers of Commerce and the Montenegro Chamber of Commerce, before Patrice Cellario, Interior Minister signed a Double Taxation Treaty with Montenegro.

Those countries present can now move forward to develop closer ties with the Principality.

Everyone agreed to meet again before the next Forum which will be in two years’ time in Andorra.

Around HSH Prince Albert II and Montenegro’s Economy Minister, directors of the Chambers of Commerce of the five countries attending the event( l-r: Monaco, Montenegro, Andorra, Liechtenstein and San Marino). © Gouvernement Princier de Monaco