CEFTA Agreement and Free trade agreement with Russia
Companies operating in Montenegro take advantage of duty free access to the South East market – the fastest growing market in Europe. Free regional agreements have been signed between Albania, Bosnia and Hercegovina, Croatia, Serbia, Macedonia, Moldova, Umnik and Kosovo, grant free access to this market of some 30 million people. These eight countries have signed an agreement on amendments and accession to CEFTA and after coming into being in 2007, agreed to the consolidated version of CEFTA 2006, thus opening the door to 30 million consumers in South Eastern Europe.
Furthermore, a free trade agreement signed with Russia in 2000 makes Montenegro an especially attractive place for foreign investors and manufacturers.This agreement gives goods produced in Montenegro with prevailing value added in Montenegro a free of customs access to Russia – a market of some 150 million additional consumers. Montenegro, besides Serbia, is the only country in the Balkans and South-Eastern Europe that has established a free trade agreement with Russia.
Agreement with EU countries
The EU has taken steps to stimulate exports among regional countries by establishing Autonomous Trade Preferences (ATP) that provide duty-free entry for over 95% of goods. Exemptions include wine, meat and steel. Products originating from Montenegro are generally admitted for import into the European Union without quantitative restrictions, and are exempted from customs duties and charges. The products exempted from the free import regime are agricultural products, “baby beef ” products and textiles.
Agreement with EFTA countries; Switzerland, Norway, Iceland, Liechtenstein
A preliminary declaration of cooperation was signed with EFTA in December 2000, pledging asymmetrical treatment of Serbian and Montenegrin products in the markets of the four member countries. This declaration has paved the way for a future free trade agreement between EFTA and Montenegro. At the first official meeting of the working group in September 2001, EFTA commited to the liberalization of Montenegro trade with the European Union.