Montcarton in Montenegro already exports thousands of tons of cardboard and other paper products yearly. But if roads in the country were better, the private enterprise could produce and export even more, says Montcarton owner Jovan Jovetic.
“I hope that in the future we will be constructing highways in Montenegro, and then the conditions will be much better in terms of the cost for transport,” he says.
In order to improve overall connectivity and increase exports in the region, as well as the global market, Montenegro needs to make exports a top priority, argues the World Bank’s latest economic memorandum for the country.
In doing so, says the report, Montenegro should dismantle the remaining trade barriers, ensure wide export certification in the private sector, and attract export-oriented Foreign Direct Investment (FDI).
“Economic growth can be expected, as the World Bank has noted in its country economic memorandum, in human resource development, growth of domestic savings, and investments in the production intended for export,” says Ljlijana Filipovic, Vice President of Montenegro’s Chamber of Economy.
The World Bank report recommends that the boost to exports – in part through upgrades to transportation in the country – should be implemented in tandem with improved energy connectivity, including improved cost recovery and tariff structures, expanded energy efficiency measures, and broader connectivity to regional markets. This would help not only Montenegro’s traditional exports – tourism and wine – but expand exports in other goods and services.