EENI-Business School

Doing Business in Montenegro

EENI- School of International Business

Subject - Doing Business in Montenegro. Podgorica. Syllabus:

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

The objectives of the subject “Doing Business in Montenegro” are the following:

  1. To analyse the Montenegrin Economy and Foreign Trade
  2. To evaluate the business opportunities in the Montenegrin Market
  3. To analyse the trade relations of Montenegro with the country of the student
  4. To know Montenegro's free trade agreements
  5. To develop a business plan for the Montenegrin Market
Subject “Foreign Trade and Business in Montenegro” is studied...
  1. Doctorate: Europe
  2. Professional Master's Programs (e-learning): International Business, Europe
  3. Course: Countries of the EFTA

Montenegro Recommendations for the Montenegrin students

Course learning materials in English + Spanish Montenegro French Montenegro Portuguese Europe.

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

Description of the Subject: Doing Business in Montenegro

EFTA-Montenegro Free Trade Agreement (FTA)


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

Religion in Montenegro: Orthodoxy (Christianity).

  1. Islam: 19%

Montenegro belongs to the Economic Area of the Orthodox Civilisation

Montenegrin Economy.

  1. Montenegro is a country in transition to a market economy
  2. Aluminium is one of the pillars of the Montenegrin economy along with services
  3. Montenegro still suffering from the effects of the different wars in the Balkans of the 1990s
  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: Euro
  7. Montenegro is a candidate to join the European Union (EU Enlargement)

Central European Free Trade Agreement (CEFTA)

Montenegrin Foreign Trade.

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

International Economic Relations of Montenegro

Trade Relations European Union-Western Balkans

  1. Central European Free Trade Agreement (CEFTA)
  2. Montenegro-European Union Stabilisation and Accession Agreement (EU-Western Balkans, EUROMED)
  3. Montenegro-European Free Trade Association (EFTA) Free Trade Agreement
  4. Montenegro-Ukraine Free Trade Agreement
  5. Montenegro-Russia Free Trade Agreement
  6. Adriatic-Ionian Initiative
  7. Central European Initiative (CEI)
  8. Regional Cooperation Council
  9. Organisation of the Black Sea Economic Cooperation (BSEC)
  10. United Nations
  11. International Chamber of Commerce
  12. World Bank
  13. World Trade Organisation
  14. Economic Commission for Europe (UNECE)
  15. International Monetary Fund (IMF)
  16. Organisation for Security and Cooperation in Europe (OSCE)
  17. Group of States of the Council of Europe Convention against the corruption (GRECO)

Examples of the subject - Foreign Trade and Business in Montenegro:

European Union Enlargement

Adriatic-Ionian Initiative

Central European Initiative (CEI)

(c) EENI- Business School