June 10, 2018 - Mechanism “16+1” is the platform for cooperation which was established back in April 2012. It features China and 16 other countries of Central and Eastern Europe. The main goal of this platform is to promote the cooperation of China with these sixteen countries. Within this mechanism, and in general the cooperation of Montenegro with China, the key recommendations and focus of interest are certainly trading and investment sectors.
The Chinese market is extremely larger than the Montenegrin system as a whole, and the growth of trade with China contributes to the exchange of products and services, which strengthens the business sector while providing new opportunities. These scenarios find their home especially within export companies, as mentioned by the Executive Director for Investment and Development of Small and Medium Enterprises and Management of European Union’s Funds, under the guide of Montenegrin Ministry of Economy, Radosav Babic.
Executive Director Babic and State Secretary at the Ministry of Economy, Nikola Vujovic, participated in the Third Ministerial Conference on Economic and Trade Cooperation of the People’s Republic of China and countries of Central and Eastern Europe, within the Mechanism “16+1”, held in Ningbo, China.
Babic said that it is evident that more and more Chinese companies are present in the European market and that this trend should be continued by improving cooperation, creating opportunities on the market and by creating a business environment in line with the need of Chinese investors.
“In addition, it is necessary to facilitate cooperation between the business sector of the European country and China, through the exchange of experience and knowledge,” said Babic, adding that Montenegro records constant economic progress and growth.
“By improving the business environment, we are increasing the competitiveness of the economy and are becoming an interesting market for Chinese investors,” concluded Babic.
The conference also discussed the Initiative for Cooperation between China and Central and Eastern Europe in the field of trade in services, as well as the Initiative for Cooperation of China and Central and Eastern Europe in the field of e-commerce.
