Podcast in English
Text size
Bulgarian National Radio © 2025 All Rights Reserved

Bulgaria and Montenegro seek to broach new territory in bilateral economic relations

The President of Montenegro Filip Vujanović paid a visit to Bulgaria this week. Prime Minister Milo Đukanović was also here three months earlier. The frequency of such high-level visits is an indication that mutual interest in promoting the relations between the two countries is running high.

The talks between President Vujanović and his Bulgarian counterpart Rossen Plevneliev and between Milo Đukanović and Prime Minister Boyko Borissov at the end of March focused on Sofia’s political support for Montenegro’s Euro-Atlantic integration and the prospects of promoting bilateral cooperation, especially in power generation. During both visits the emphasis fell on the potentiality of Bulgaria’s exporting electricity to Italy along a future high-voltage cable connecting Montenegro with Italy. Talks on this were first held in 2011 but now that the project looks like being finalized and the cable should be made operational in 2018, the issue is once more being brought into the spotlight. The two countries’ presidents discussed the intention of Bulgarian companies to take part in the construction of hydroelectric power plants in Montenegro, of the Kotor-Lovcen-Cetinje ski lift and other infrastructure facilities, the invitation for which has already been tendered. Vujanović stated he regarded Bulgaria’s interest in his country’s energy sector as a positive development adding that he expected similar interest in tourism, including bilateral projects that will draw tourists from third countries to Bulgaria and Montenegro. On his part, President Plevneliev urged Montenegro to show an interest in projects on the territory of Bulgaria. The statements made are an indication that the level of political dialogue is just as good as before but that no headway has been made in trade or economic relations which are far from the real potential of the two countries and from the levels of exchange with the other countries of Southeast Europe. There exist untapped opportunities connected with EU funding for improving connectivity in the region. These problems are likely to be included in the agenda of the next meeting of the Joint Committee on Economic Cooperation due in Sofia.

English version: Milena Daynova 



Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

Which currencies will be most sought after by Bulgarians in 2024?

The two most sought-after currencies by Bulgarians in 2024 remain the US dollar and the euro, just as in 2023. The Turkish lira, the Romanian leu and the Serbian dinar were also very popular, followed by the British pound and the Swiss franc. This was..

published on 1/2/25 3:08 PM

Improved business climate recorded at the end of December

The overall business climate indicator in Bulgaria has increased in December by 1.7 points from 17 percent to 18.7% compared to November . An increase in the indicator was observed in the industry sector by 1.9 points, in retail trade by 5.7 points and..

published on 12/31/24 9:53 AM

2025 portends difficult survival for businesses against the backdrop of political instability and foreign policy challenges

The National Assembly postponed the discussion and voting of the most important fiscal law of the land – the national budget for 2025 – for next year. “If we do not have an approved budget by 19 January, then everything in the country will grind to a..

updated on 12/30/24 1:16 PM