Borsa İstanbul Ready to Help Montenegrin Capital Market’s More Robust Development

05/05/2023

“Recognising the potential for a stronger capital market development, as currently the largest Montenegro Stock Exchange’s shareholder with the right to manage it, the Borsa İstanbul wants to help Montenegro on that path,” said Güzhan Gülay, Assistant General Manager of the Borsa İstanbul, at a meeting with the CBCG Governor Radoje Žugić. “To that end, we are ready to assist the Montenegro Stock Exchange and the development of the Montenegrin capital market through the transfer of knowledge, experiences and technologies,” Gülay added.

The interlocutors agreed that Turkey and Montenegro have excellent overall relations and economic cooperation that is rising. Turkish investors are increasingly interested in investing in Montenegro, confirmed by the data on foreign direct investments from this country. Preliminary data show that Turkey’s total foreign direct investment inflow was 78 million euros in 2022.

Governor Žugić informed the interlocutors about the situation in the banking sector and the CBCG activities aimed at financial stability strengthening.

The interlocutors expressed the expectation that the cooperation between the two countries would further improve in the coming period and agreed to continue communication.

Erdal Karaömeroğlu, Commercial Counsellor of the Turkish Embassy Office in Montenegro, also attended the meeting.