OREANDA-NEWS. September 05, 2011. Prime Minister of the Republic of Latvia Valdis Dombrovskis held a meeting with Prime Minister of Montenegro Igor Luksic to discuss the current issues of cooperation between the two countries.

V.Dombrovskis noted that Latvia is following the progress of Montenegro on its way towards the European Union (EU) and NATO and supports these initiatives. “The accession process to the EU for Latvia lasted for almost ten years from 1995-2004 and it was related with extensive reforms in public administration and other sectors. The West Balkan region is in the mental outlook of Latvia and Latvia supports the efforts of Montenegro to become a part of the unified Europe and common security space, and we are ready to share our experience. Our task is also to enhance the economic cooperation and trade between both countries,” emphasized Valdis Dombrovskis during the meeting with Prime Minister of Montenegro Igor Luksic.

I.Luksic appreciated Latvia’s support in 2006 when the independent state of Montenegro was founded as well as afterwards in its foreign policy objectives to join the most important international organizations. “Both Latvia and Montenegro are small countries and they can learn a lot from each other. Latvia’s experience of the accession to the EU and NATO is very useful for Montenegro. Currently, our mutual political dialogue is much better than economic relations and, therefore, I agree that it is necessary to more intensively promote our economic cooperation,” said I.Luksic.

In view of the fact that Montenegro has unilaterally introduced the euro as the official means of payment, the officials also discussed the situation in the Eurozone. V.Dombrovskis informed that Latvia has committed to meet the Maastricht criteria already next year that will help strengthen the investors’ confidence in Latvia. I.Luksic also noted that the objective of Montenegro is to join the Eurozone after the accession to the EU. “We believe in the future of the Eurozone and the euro,” said I.Luksic.

V.Dombrovskis informed the Prime Minister of Montenegro about Latvia’s accomplishments in overcoming the international financial crisis and prevention of national insolvency, emphasizing, that the most important pre-condition for restoring the growth is to regain financial stability of the country and confidence in international financial markets. Latvia managed to attain it by cutting the budget expenditures and implementing structural reforms in public administration, in the area of education, health and other sectors.

Officials identified the chemical and pharmacy industry, engineering industry, food production, tourism and energy sector as the most prospective sectors for development of economic cooperation. At the conclusion of the discussion, I.Luksic extended an invitation to V.Dombrovskis to pay an official visit to Montenegro with a view to continue the dialogue of the two countries.

The Prime Minister of Montenegro is paying a visit also to Lithuania and Estonia and arrived to Riga from Tallinn. Today I.Luksic will also meet President Andris Berzins and Speaker of the Saeima Solvita Aboltina. The Prime Minister of Montenegro is accompanied by Minister of Finance Milorad Katnic and Advisors to the Prime Minister Ivana Pajevic, Predrag Stamotovic, Alexander Ticic and Andrijana Vukotic during his visit to Latvia.

This is the first visit of high-level officials of Montenegro to Latvia since the establishment of diplomatic relations between Latvia and Montenegro on June 19, 2006. Latvia was one of the first countries that acknowledged the independence of Montenegro after its disunion from Serbia on June 3, 2010. Since December 17, 2010, Montenegro is a candidate state of the EU and in 2012 it plans to start negotiations on the accession to the EU.