Montenegro joined the following monetary organizations: The World Bank, the IMF, the European Bank for Reconstruction and Development (EBRD) and the Central European Free Trade Agreement (CEFTA).
Montenegro signed a Stabilization and Association Agreement with the European Union in 2007 and joined World Trade Organization in 2012. Montenegro has started negotiations for the accession to EU in 2012 and successfully opened and closed a great number of Chapters, and is expected to become the next EU member.
The industry is based on existing resources, with the largest share coming from the mining-energy-metallurgical repro-chain. In a relatively small area, there are significant amounts of bauxite, coal, lead, decorative stone, etc. Coal sites represent a significant energy potential. Montenegro has the capacity to produce crude steel, red bauxite, alumina, aluminum, sea salt, coal.
As far as power capacities, Perućica and Piva hydropower plants, and Pljevlja thermal power plant produce about 3 billion kWh per year.
Agricultural land and water are well preserved from industrial pollution and enable the production of healthy and environmentally friendly food, especially meat, milk, dairy products, honey, fish, vegetables, fruits, high quality wines and naturally pure water of the highest quality values (in accordance with international standards).
Maritime sector has a long tradition, and there are prerequisites for the development of the maritime economy. The port of Bar is the largest Montenegrin port, located at the gates of the Adriatic Sea and is capable of handling 5 million tons of goods per year. In the vicinity of the Port of Bar, there is a Free Customs Zone, which provides opportunities for the development of production and service capacities for the construction of warehouses, from where the goods can be easily transported by sea or rail to the north. In addition to the Port of Bar, other ports of Kotor, Risan, Zelenika and Budva have much smaller capacity and are intended primarily for tourist activities.
Montenegro is ideal for developing all types of coastal, mountain, health, religious, rural and congress tourism. In the years after independence, Montenegro has seen a rapid increase in investment in tourism, primarily along the Adriatic coast. After the real estate boom of 2006 and 2007, when foreigners bought most of the real estate along the coast, the Montenegrin real estate sector slowly cooled down. Despite this, the World Travel and Tourism Council again ranks Montenegro among the top destinations in the world.
For information on GDP and other economic parameters, please visit: https://www.monstat.org/eng/index.php