Key developments and challenges

Montenegro has begun EU accession negotiations. The decision of the European Council in June 2012 to endorse the European Commission’s recommendation reflects substantial and sustained progress in reforms in both the political and the economic spheres.

Montenegro became a member of the World Trade Organization. This marks an important milestone in the country’s trade integration agenda, and is likely to boost the country’s growth potential in the medium to long run.

Important steps have been taken to develop Montenegro’s energy potential. Tariff reforms have progressed in the power sector, and plans are advancing in the development of an underwater interconnection cable between Montenegro and Italy.