Montenegro signs economic deal with Italy

Montenegro has moved to strengthen its economy by forming a new association with Italy.

Speaking in Podgorica on Monday (January 20th), Montenegrin prime minister Milo Djukanovic said that the two nations have agreed to increase economic cooperation and encourage trade, the AKI news agency reports.

A ceremony in the capital was attended by politicians from both countries, with Italian economy minister Adolfo Urso describing the agreement as "a historic event, which will open a new phase in the relations of the two countries".

Meanwhile, Mr Djukanovic said that the "quality of relations between states is measured by the volume and structure of economic cooperation".

He claimed that sectors such as tourism, transport, agriculture and utilities could be expected to experience an increase in Italian investment as a result of the association.

In December, Mr Djukanovic said that Montenegro will aim to achieve economic growth of 5% this year.

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