EU’s next member: Montenegro
EU’s next member: Montenegro
Montenegro is making a remarkable progress in EU membership and the European perspective of the country is indisputable. Especially from an economic point of view, Montenegro seems to be ready to join the EU. Macroeconomic and financial stability have also strengthened while the financial sector in the country has improved its solvency and liquidity, and it has been observed that the economy has grown rapidly in general since 2013, mainly due to investments in the agriculture and energy sectors and the rapid growth of tourism sector in the country.
“Between 2017 and 2019, the Montenegro economy is expected to grow, with increased investment in the construction and transport sectors and the development of domestic potential,” Economy Minister Dragica Sekulic said in an interview with Emerging Europe.
According to the World Bank’s 2018 Business Report, Montenegro has begun to change its ranking and now ranks 42nd among 190 countries. While the agriculture and energy sectors are seen as the main priorities of the government in terms of economic and development, the tourism sector is also booming as Montenegro has become a rapidly becoming a popular holiday destination, accelerating the development of all economic and related sectors. At the moment Montenegro has become one of the world’s fastest growing tourist destinations.
Montenegro on its path to Europe
In 2006, the Montenegro parliament left Serbia and Montenegro’s State Union and proclaimed its independence. Montenegro joined the Partnership for Peace (PfP) in December 2006, shortly after gaining independence in June of 2006. Then in 2008 the country applied to EU membership. In 2010, the European Commission gave a positive opinion on Montenegro’s application. The council gave the candidate status to Montenegro by setting seven basic priorities that need to be addressed in order to start negotiations on the issue. In December 2011, the Council initiated the accession process in order to launch negotiations in June 2012. Accession negotiations with Montenegro started on June 29, 2012. In addition to these, Montenegro became a full member of the NATO Alliance upon ratification of the accession document on 5 June 2017 in Washington, D.C.
As the Council of the European Union plans to renew its accession to six Western Balkan countries after years of exhaustion and expansion tensions, the European Commission has indicated that Serbia and Montenegro can join the EU in 2025, primarily.
The latest EU-Montenegro Stabilisation and Association Councilwhich was held on 25 June 2018, reviewed the state of relations between the EU and Montenegro, including Montenegro’s progress in its preparations for EU membership.
Source: http://www.consilium.europa.eu/en/policies/enlargement/montenegro/
More information on the country’s relations with the EU and report 2018 can be found on the link below:
https://ec.europa.eu/neighbourhood-enlargement/sites/near/files/20180417-montenegro-report.pdf
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