Improving infrastructure connectivity is crucial for enhancing economic cooperation with Bosnia and Herzegovina (BiH), emphasized Montenegrin President Jakov Milatović.
“Poor transportation links are one of the biggest barriers to intensified economic collaboration. Podgorica and Sarajevo, less than 180 kilometers apart by air, are among the closest capitals in the region. However, travel still takes over four hours,” Milatović stated in an interview with Oslobođenje.
He stressed the importance of reducing travel time to ensure that distances feel shorter than they actually are.
“I am pleased that intergovernmental agreements have finally been signed, providing a legal basis for the reconstruction of the road from Plužine to Šćepan Polje to Foča, along with the construction of a new bridge over the Tara River,” Milatović noted.
He believes that the reconstruction of this road will be accompanied by the establishment of a joint border crossing, significantly facilitating the flow of people and goods between the two countries.
“Economic indicators suggest additional potential for improving trade exchange. Bosnia and Herzegovina is one of Montenegro’s most important foreign trade partners, accounting for around seven percent of our total trade. This data points to a solid foundation we can further enhance through diversification of trade and investments in new sectors,” Milatović explained.
Tourism is, according to him, an area where cooperation holds special significance.
“Bosnia and Herzegovina ranks third in the structure of overnight stays of foreign tourists in Montenegro, with a share of 8.5 percent. With new airline routes, we can increase these numbers, and by collaborating on promoting a joint tourism offer, we can tap into new, large markets that are currently underserved,” Milatović said.
Finally, there is potential for expanding cooperation through joint projects financed by EU funds. The Port of Bar, he noted, could greatly benefit Bosnia and Herzegovina’s industry.
“Therefore, it is essential to focus on building railway infrastructure that connects BiH with the Port of Bar, allowing more efficient access to international markets for Bosnian products,” Milatović stated.
He added that joint projects financed by EU funds present a unique opportunity to leverage the geopolitical moment that has brought enlargement policy back into the spotlight for the European Union. Through collaboration on regional projects, additional funds can be attracted to accelerate the development and integration of both economies.
“The business community plays a crucial role in these efforts. That’s why I am coming to Sarajevo with a delegation of entrepreneurs led by the Chamber of Commerce (PKCG), and together with the Chair of the Presidency, Denis Bećirović, I will open a Business Forum between our countries to give a strong boost to enhancing economic ties,” Milatović announced.
He concluded that the two countries should further capitalize on their friendly political relations to strengthen economic cooperation.
