EENI Global Business School

Business in Montenegro. Montenegrin Economy

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Syllabus of the Subject

Aluminium: 84% of Montenegrin's total exports. Podgorica (Montenegro)

  1. Introduction to Montenegro (South Eastern Europe, Balkans)
  2. Montenegrin Economy: an economy based on the aluminum
  3. Business in Podgorica
  4. Montenegrin Foreign Trade
  5. Investment in Montenegro
  6. Access to the Montenegrin Market
  7. Business Plan for Montenegro

EFTA-Montenegro Free Trade Agreement

The objectives of the subject “International Trade and Business in Montenegro” are the following:

  1. To analyze the Montenegrin Economy and Global Trade
  2. To identify business opportunities in the Montenegrin Market
  3. To analyze the trade relations of Montenegro with the student's country
  4. To know the Montenegrin Trade Agreements
  5. To develop a business plan for the Montenegrin Market

E-learning Course Master, International Business

The Subject “Foreign Trade and Business in Montenegro” belongs to the following Online Programs taught by EENI Global Business School:

Doctorate: World Trade.

Doctorate in International Business (DIB) Online

Masters: International Business, Foreign Trade.

Masters in International Business and Foreign Trade (MIB)

Montenegro, Masters, International Business Trade Masters adapted to Montenegrin Students.

Languages: Masters, Doctorate, International Business, English + Study Master Doctorate in International Business in Spanish Montenegro Study Doctorate in International Business in French Montenegro Masters Foreign Trade in Portuguese Montenegro.

  1. Credits of the Subject “Doing Business in Montenegro”: 1 ECTS
  2. Duration: one week

Foreign Trade and Business in CEFTA Countries

International Trade and Business in Montenegro

Market Access - Free Trade Agreements

Montenegrin Preferential Access and Trade Agreements:

  1. Montenegro and the Orthodox Economic Area
  2. Central European Free Trade Agreement (CEFTA)
  3. Montenegro-EU
    1. Montenegro is a candidate to join the European Union (EU Enlargement)
    2. Montenegro-European Union Stabilization and Accession Agreement (EU-Western Balkans, EUROMED)
  4. Montenegro-EFTA Agreement
  5. Montenegro-Ukraine Agreement
  6. Montenegro-Russia Agreement
  7. Turkey-Montenegro Agreement
  8. Adriatic-Ionian Initiative
  9. Central European Initiative
  10. Regional Cooperation Council

Trade Facilitation Programs. TFA Agreement

  1. WTO
    1. GATS
    2. Agreement on Sanitary Measures
    3. Agreement on Technical Barriers to Trade
    4. Agreement on Preshipment Inspection
    5. Agreement on Safeguards
    6. Trade Facilitation Agreement
  2. COTIF Convention (Rail)
  3. BIC
  4. Chicago Convention (ICAO)
  5. IMO
    1. Convention for Safe Containers
    2. Istanbul Convention
  6. Customs Convention on Containers
  7. Convention on the Harmonization of Frontier Controls of Goods
  8. Is not a member of the WCO
    1. Kyoto Convention
  9. ICC
  10. IRU
    1. TIR Convention
    2. Guidelines on Safe Load Securing for Road Transport
  11. CIM / CIT Rules

Globalization and International Organizations


  1. UNECE
  2. OSCE
  3. Group of States of the European Council Convention against Corruption

Global Organizations:

  1. UN
  2. WB
  3. WTO
  4. IMF

  1. Montenegrin Capitals: Podgorica (main city), and Cetiña (historical capital)
  2. Official Language of Montenegro: Montenegrin
  3. Montenegrin Area: 13,812 km²
  4. Montenegrin Population: 621,383 people
  5. Type of Government of Montenegro: Parliamentary Republic
  6. Borders of Montenegro: Albania, Bosnia and Herzegovina, Croatia, Kosovo and Serbia
  7. Montenegrin Independence:
    1. 1992 (Yugoslavia)
    2. 2006 (Federal Republic of Yugoslavia)

Religion in Montenegro: Orthodoxy (Christianity).

  1. Islam: 19%

Orthodox Christianity, Ethics and Global Business

Montenegro belongs to the Orthodox Economic Area.

Montenegrin Economy.

  1. Montenegro is a country in transition to a market Economy
  2. Aluminum is one of the pillars of the Montenegrin economy along with services
  3. Montenegro still suffering from the different wars effects in the Balkans (1990)
  4. Montenegro is one of the poorest countries in Europe (12% of the population below the poverty line)
  5. Montenegrin GDP per capita: 6,966 dollars
  6. Currency of Montenegro: Euro

Foreign Trade (Importing, Exporting)

Montenegrin Foreign Trade.

  1. The main Montenegrin Exports are aluminum (exported through Switzerland, accounts for 84% of Montenegrin's total exports)
  2. Top Montenegrin Exports destinations: Serbia (23%), Croatia (23%) and Slovenia
  3. The main Montenegrin Imports are foods, petroleum products, natural gas, clothes, industrial products
  4. The main suppliers of Montenegro: Greece, Italy, Germany, China and Bosnia and Herzegovina

(c) EENI Global Business School (1995-2024)
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