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Montenegro and Ukraine agree to sign a free trade agreement
03 October 2011
Montenegro agreed with Ukraine to sign a free trade agreement that would break the deadlock over the accession of the Balkan nation to the World Trade Organisation (WTO), a process that has been on halt for almost three years, Economy Minister Kavaric told the press.

The two sides agreed that all outstanding issues from the WTO-accession process should be agreed upon in a bilateral agreement on free trade that would exclude concessions from the Montenegrin side other than those agreed upon in the previous negotiations. “At our last meeting in Kyiv we agreed with the Ukrainian Government that no other concessions be asked from Montenegro in the further WTO-integration process and that the interests of Ukraine and Montenegro will be regulated through a free-trade agreement,” Minister Kavaric explained.

Minister Kavaric noted that the two sides agreed to meet again in November when they will sign the Free Trade Agreement and an agreement regarding Montenegro’s WTO accession.

He added that the free trade agreement is fully in accordance with national interests, and noted that Montenegro, committed to being an open economy, has “such agreements with CEFTA, EFTA, EU, Russia, Belarus, and other countries.” He also remarked that the WTO-accession process, a third most important integration process after the EU and NATO accession goals, is now in a phase that will enable to soon break a three-year long stalemate in negotiations. Source; Government

Source: Balkan Business News

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