United States and Montenegro Advance Economic Cooperation at First Official Senior-Level Economic Dialogue

Under Secretary for Economic Growth, Energy, and the Environment Jose W. Fernandez met with Montenegrin Deputy Prime Minister Nik Gjeloshaj in Washington, D.C., on October 21 for the first in-person U.S.-Montenegro Senior Economic Dialogue together with Minister of Energy Sasa Mujovic, Minister of Public Administration Marash Dukaj, Minister of Maritime Affairs Filip Radulovic, and Minister of Oil, Gas, and Mining Admir Sahmanovic as well as representatives of a range of agencies and ministries.

Both committed to improving the investment environment in Montenegro. They reaffirmed efforts to strengthen the U.S.-Montenegro economic relationship and deliver benefits to the American and Montenegrin people by promoting sustainable and inclusive growth.

The U.S. and Montenegrin governments discussed joint approaches to improving foreign investment screening and commercial law training; energy infrastructure; and trusted vender procurement for technology as well as continued cybersecurity collaboration. They highlighted ongoing bilateral cooperation in the energy sector, from grid modernization to market integration and Just Transition, which will support Montenegro’s sustainable economic development. They also exchanged views about joint cooperation on investment security and addressing non-market policies and practices.

Under Secretary Fernandez and Montenegrin Deputy Prime Minister Nik Gjeloshaj signed a memorandum of understanding (MOU) on U.S.-Montenegro strategic economic cooperation. This MOU aims to strengthen collaboration between the United States and Montenegro, expand bilateral trade and investment, and support regional economic initiatives which will benefit U.S. and Montenegrin workers and businesses.

The Montenegrin and U.S. governments underscored the importance of continuing to deepen their economic partnership and support Montenegro on its path to European Union accession. Both committed to enhancing coordination in the areas discussed in the Dialogue and Montenegro submitted its letter of intent to join the Blue Dot Network to ensure the highest environmental, social, and governance standards for infrastructure projects.

To stay up to date, follow Under Secretary Fernandez on X: @State_E, LinkedIn: @State-E, and Facebook: @StateDeptE. For media inquiries, please contact E_Communications@state.gov.