Recognized contribution of the Central Bank in Montenegro`s EU approximation
17/07/2024
Montenegro should take advantage of the current momentum of the enlargement policy and continue with the implementation of key reforms in the areas of strategic importance for joining the European Union, said the Governor of the Central Bank of Montenegro, Ms. Irena Radović, and the Chief Negotiator of Montenegro with the EU, Mr. Predrag Zenović, during today's meeting in the Central Bank.
Radović and Zenović discussed the activities of the Central Bank of Montenegro (CBCG), with a particular focus on the obligations arising from the process of Montenegro's accession to the Single Euro Payments Area (SEPA), as well as from the negotiation chapters that this institution has been leading, namely chapters 4 (Freedom of Capital Movement), 9 (Financial Services), and 17 (Economic and Monetary Policy).
Governor Radović pointed out that contributing to the acceleration of the European integration process is one of the main priorities of the CBCG in the coming period. In accordance with such commitment, the Governor recently formed a Coordination Body for Monitoring Negotiations with the European Union within the CBCG Competence and the Perspective of Integration into the Economic and Monetary Union (EMU) whose members attended today's meeting with the Chief Negotiator and his associate.
“Our intention is to deploy all our available capacities to accelerate activities on the fulfilment of obligations during this year and the next year, in order to provide the preconditions for the temporary closure of benchmarks within the negotiation chapters,” said the Governor.
One of the conclusions at the meeting is that the submission of the official application for Montenegro's joining the SEPA is a very important step towards the implementation of the European Commission`s new Growth Plan for the Western Balkans and that the accession to the SEPA will represent one of the clearest signals of the concrete steps towards approaching the European Union. In this context, the importance of cooperation and synergistic action of the CBCG, the Government and the Parliament was accentuated with a view to delivering results in the implementation of reforms and regulatory alignment.
The Chief Negotiator Zenović praised the proactivity and commitment of the CBCG, highlighting that this institution is one of the positive examples in the negotiation process. He also expressed his undeniable willingness, from the position of a mediator and in light of the positive enlargement climate and opportunities for Montenegro, to support the acceleration of activities necessary for the CBCG`s fulfilment of its upcoming obligations within the timelines planned under the dynamic EU agenda.