ZBORNIK KONFERENCIJE CONFERENCE PROCEEDINGS

Transcription

1 Ekonomija osnov povezivanja Zapadnog Balkana Economy Basis for Western Balkans Regional Cooperation septembar, / BUDVA, CRNA GORA September 24th and 25th 2014 / BUDVA, MONTENEGRO ZBORNIK KONFERENCIJE CONFERENCE PROCEEDINGS

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3 KONFERENCIJA EKONOMIJA CRNE GORE 2014 Ekonomija Osnov povezivanja Zapadnog Balkana Organizatori: Privredna komora Crne Gore i Istočni odbor njemačke privrede Termin održavanja: 24. i 25. septembar, Mjesto održavanja: Budva, Crna Gora CONFERENCE ECONOMY OF MONTENEGRO 2014 Economy - Basis for Western Balkans Regional Cooperation Organized by: Chamber of Economy of Montenegro and Committee on Eastern European Economic Relations Date of event: September 24 th and 25 th 2014 Place of event: Budva, Montenegro

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5 Zbornik konferencije Conference Proceedings Podgorica, 2014.

6 ZBORNIK KONFERENCIJE 6 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

7 CONFERENCE PROCEEDINGS Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 7

8 ZBORNIK KONFERENCIJE KONFERENCIJA Ekonomija Crne Gore 2014 Ekonomija Osnov povezivanja Zapadnog Balkana SADRŽAJ Uvodne riječi... Panel: Saradnjom do prosperiteta izazovi regionalne saradnje za zemlje Jugoistočne Evrope na putu evropskih integracija... Panel: Spremni za evropsko tržište kako ojačati kompanije da budu konkurentne... Panel: Poljoprivreda kao ključni nosilac socijalnog i ekonomskog razvoja Jugoistočne Evrope... Panel: Komunalna infrastruktura fokus na tretman voda i otpadnih voda... Panel: Turizam... Panel: Energija... Panel: Bankarstvo i finansije Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

9 CONFERENCE PROCEEDINGS CONFERENCE ECONOMY OF MONTENEGRO 2014 Economy - Basis for Western Balkans Regional Cooperation CONTENTS Introductory words... Panel: Prosperity through cooperation challenges for regional cooperation for the countries of SEE on their way to the EU integration... Panel: Fit for the European market how can we strengthen companies to be competitive... Panel: Agriculture as key driver for social and economic development in South Eastern Europe... Panel: Municipal infrastructure focus on water and waste water treatment... Panel: Tourism... Panel: Energy... Panel: Banking and financing Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 9

10 ZBORNIK KONFERENCIJE 10 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

11 CONFERENCE PROCEEDINGS Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 11

12 ZBORNIK KONFERENCIJE Uvodne riječi Velimir Mijušković Predsjednik, Privredna komora Crne Gore Dr. Eckhard Cordes Predsjedavajući, Istočni odbor njemačke privrede Andreas Obersteller Zamjenik generalnog direktora, Sektor za evropsku politiku, Njemačko savezno ministarstvo za privredu i energiju Milo Đukanović Predsjednik, Vlada Crne Gore 12 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

13 CONFERENCE PROCEEDINGS Introductory words Velimir Mijuskovic President, Chamber of Economy of Montenegro Dr. Eckhard Cordes Chairman, Committee on Eastern European Economic Relations Andreas Obersteller Deputy Director General, Department European Policies, German Federal Ministry for Economic Affairs and Energy Milo Djukanovic President, Government of Montenegro Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 13

14 ZBORNIK KONFERENCIJE 14 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

15 CONFERENCE PROCEEDINGS Velimir Mijušković Predsjednik, Privredna komora Crne Gore President, Chamber of Economy of Montenegro Poštovani Predsjedniče Vlade, Uvaženi Ministri, Poštovani gospodine Kordes, Poštovani Predsjednici Privrednih komora, Vaše ekselencije, Uvaženi privrednici, Dame i gospodo, Na početku želim da vas sve srdačno pozdravim i zahvalim za učešće na ovogodišnjoj Konferenciji. Ovogodišnju Konferenciju, pod nazivom: Ekonomija osnov povezivanja Zapadnog Balkana, Privredna komora Crne Gore organizuje sa Istočnim odborom njemačke privrede. Koristim priliku da im zahvalim na sardnji i istovremeno zaželim dobrodošlicu u Crnu Goru. Posebno želim da zahvalim na podršci koju daje Predsjednik Vlade Crne Gore učešćem u radu naše Konferencije. Zahvaljujem ministrima ekonomije iz Regiona, koji su se odazvali našem pozivu, cijeneći zamisao organizatora da kroz ovaj oblik razgovora i saradnje ispolje jasnu opredijeljenost za dijalog, ovdje pred privredom kao glavnom polugom za ekonomsku integraciju Zapadnog Balkana. Izražavam zahvalnost za učešće na Konferenciji, mojim uvaženim kolegama i prijateljima, predsjednicima Privrednih komora, koji se, sa ponosom ističem, u kontinuitetu zalažu za čvršće ekonomske veze na ovim prostorima. Naše razumijevanje i prepoznavanje neophodnosti i značaja regionalne ekonomske saradnje postojalo je čak i kada je politička volja za to izostajala. Kada govorimo o povezivanju Zapadnog Balkana i ulozi Komora u tim procesima, koristim ovu priliku da podsjetim na značaj brojnih aktivnosti koje smo realizovali kroz Forum privrednih komora CEFTA regiona i pomogli implementaciju ovog Sporazuma. Sve ovo mi, daje za pravo da tvrdim da su Komore i tokom evropskih integrativnih procesa svojih zemalja i posebno u trenutku kada je, reklo bi se, sve jasnija ispružena ruka Evropske unije prema Zapadnom Balkanu, potpuno pripremljene i osposobljene da preuzmu obaveze i odgovornosti, koje im taj proces donosi. Želim da istaknem podršku koju kroz realizaciju različitih Projekata primamo od strane Savezne njemačke komore. Na pripremi ovogodišnje Konferencije, počeli smo raditi već početkom godine. Ipak, rekao bih da ona dobija posebnu snagu i značaj budući da u vremeskim okvirima predstavlja Dear Prime Minister, Dear Ministers, Dear Mr Cordes, Dear Presidents of the Chambers of Economy, Your Excellences, Dear Entrepreneurs, Ladies and gentlemen, First of all, I want to greet you and thank you for your participation at this year s conference: Economy the Basis for Connecting the Western Balkan Regions. The conference has been organized by the Chamber of Economy of Montenegro and the German Committee on Eastern European Economic Relations. I use this opportunity to thank the German Committee on Eastern European Economic Relations for their cooperation and to wish them a pleasant stay in Montenegro. I express special gratitude to the Prime Minister of Montenegro for his support and participation at our conference. I thank the regional ministers of economy who have responded to our call, appreciating the organiser s idea for dialogue through this type of discussion before the representatives of the economy as the main driver for the economic integration of the Western Balkans. I express gratitude for the participation at the conference to my esteemed colleagues and friends, presidents of the chambers of economy, who, I may proudly say, have advocated for stronger economic ties in this area. Our understanding and recognition of the necessity and significance of regional economic cooperation existed even when there was no political will for it. Speaking of the Western Balkan networking and the role of the chambers in these processes, I would like to use this opportunity to remind you of the significance of numerous activities we realized through the Forum of the Chambers of Economy of the CEFTA region and the implementation of this Agreement. Based on this, I may claim that during the European integration processes, especially at the moment when the EU has refocussed its attention to the Western Balkans, the chambers have been fully prepared and capable to take up obligations and responsibilities pertaining to this process. I would like to emphasize the support we have been receiving from the German Committee on Eastern European Economic Relations through the realization of different projects. We started the preparation of this year s conference at the beginning of this year. However, Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 15

16 ZBORNIK KONFERENCIJE nastavak nedavnog susreta Kancelarke Savezne Republike Njemačke sa Predsjednicima Vlada zemalja Zapadnog Balkana. Ovo će biti prilika da se privredi direktno saopšte planovi koji su postavljeni i dogovoreni u Berlinu prije nešto manje od mjesec dana i upravo u dijalogu sa privredom definišu najrealnije oblasti za saradnju. Više nema dileme da Evropska unija našoj regionalnoj saradnji daje status ključnog uslova za brži ekonomski razvoj. Činjenica je da mnogi od izazova koji su pred nama, nijesu karakteristika samo pojedinačne zemlje, već su zajednički i zahtijevaju kontinuiranu komunikaciju i otvoren odnos. Regionalnoj saradnji pripada posebna važnost, bilo da je prepoznajemo kao faktor stabilizacije ili sredstvo jačanja naših evropskih integrativnih procesa. Uvjeren sam da politička posvećenost regionalnoj saradnji ima suštinski značaj i mora biti realna i dinamična u praćenju potreba Regiona. Prisustvo ministara ekonomije zemalja našeg Regiona danas ovdje to potvrđuje i daje garanciju da ćemo ekonomsku integraciju lakše postići. Pozitivna je odluka Evropske komisije o novom načinu funkcionisanja Zapadnobalkanskog investicionog okvira. Saglasno tome, za očekivati je značajno povećanje raspoloživih bespovratnih sredstava EU. Ta sredstva uz kreditnim sredstva koja dolaze od međunarodnih finansijskih institucija biće važna podrška zajedničkim infrastrukturnim investicionim projektima u Regionu. Podrška tog nivoa nam je više nego potrebna, budući da su sredstva zemalja Regiona pojedinačno za ove namjene veoma ograničena. Svaku od naših ekonomija karakteriše visok javni dug i budžetski deficit, a koji zajedno sa spoljnotrgovinskim deficitom predstavlja faktor ograničenja fiskalne i monetarne sfere. Znamo da industrijski orijentisane i razvijene zemlje u EU, među kojima svakako prednjači Savezna Republika Njemačka, ostvaruju suficite u robnoj razmjeni sa inostranstvom, te je za očekivati da povećavaju obim investicija izvan svojih granica. Rekao bih da kao Regija, svakako imamo više šansi, nego bilo koja od naših zemalja pojedinačno. Iz tog razloga na nivou Regiona treba razmišljati u smjeru usaglašavanja industrijske politike. Apsolutno je bila jasna i poruka njemačkog vicekancelara i ministra ekonomje, upućena pred velikim brojem privrednika te zemlje, na Konferenciji u Berlinu, 28. avgusta: Treba nam više investicija u zemlje Zapadnog Balkana koje mogu imati trajan uticaj na Region. Naglasak je na tri elementa koja su od strateške važnosti: Još ulaganja, više izvoza, bolje stručno osposobljavanje. Evropska unija apsolutno raspolaže sa dovoljno instrumenata kojima može da podrži privredni oporavak Zapadnog Balkana, ali je potrebno da se podigne nivo regionalne saradnje kroz usaglašeni okvir privrednih politika kao osnovni preduslov i instrument, a čemu vjerujem da svi pojedinačno možemo dati doprinos. Očekujem da će i na ministarskom panelu to biti glavna tema. Prednost bi, kako sam već i re- I would say that the fact that it has been organized following the recent meeting of the German Chancellor with the prime ministers of the Western Balkan countries, gives it special force and significance. This will be an opportunity to directly state the plans that were set and agreed upon in Berlin less than a month ago, as well as to define the most realistic areas for cooperation in the dialogue with the economic sector. There is no more dilemma that the European Union considers our regional cooperation as the key condition for faster economic development. It is a fact that many of the challenges before us are not characteristic for some of the countries. Actually, these are common problems which reqiure continuous communication and an open relationship. Regional cooperation is of special significance regardless of the fact if it is recognized as the stabilization factor or as the means of strengthening our European integration processes. I am convinced that political dedication to regional cooperation is of crucial importance and that it must be realistic and dynamic in monitoring the needs of the region. The attendance of the regional ministers of economy here today confirms and guarantees that we will manage more easily to achieve economic integration. European Commission has made a positive decision on the new way of functioning of the Western Balkan investment framework. In line with this, we may expect a significant increase of the available EU grants. These funds and the loans from international financial institutions will be a considerable support to joint infrastructure investment projects in the region. The support of this level is more than necessary given the fact that the funds for each particular regional country are very limited. Each of these economies is characterized by a high public debt and budget deficit, which, together with the foreign trade deficit, present a limiting factor of the fiscal and monetary sphere. We know that the industry-oriented and developed EU countries, among which Federal Republic of Germany is the leader, achieve surpluses in the foreign trade and that they are expected to increase the volume of investments outside their borders. I would say that as a region we certainly stand more chances than any of our countries individually. For that reason we need to think of harmonizing the industrial policies. The message of the German Vice-Chancellor and the minister of economy stated at the conference in Berlin on 28 August 2014, before a large number of entrepreneurs, was absolutely clear: We need more investments in the Western Balkan countries which may have a permanent influence in the region. The accent is on three elements of strategic importance: more investments, more exports, better staff training. European Union has absolutely enough instruments which may support the economic recovery of the Western Balkans. However, there is a need to raise the level of regional cooperation through the harmonized framework of economic 16 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

17 CONFERENCE PROCEEDINGS kao, bila u tome što bi čitava Regija bila jedno područje za ulaganje. To bi obezbijedilo dovoljan obim i stabilnost investicija i adekvatno korišćenje komparaticnih prednosti, koje svakako imamo. Siguran sam da smo mi u zemljama Regije koje još nijesu članice Evropske unije apsolutno svjesni krize koju su institucije Evropske unije prošle i prolaze od godine. Ovo naglašavam u kontekstu da sigurno više niko na ovim prostorima nema iluziju da je integrisanje u EU dovoljan cilj sam po sebi, već ispred sebe stavljamo podizanje kvaliteta naših ekonomija, pa time i života. S toga, i Evropska unija mora biti svjesna da smo mi partner koji ima i mudrosti i sposobnosti da projektuje svoju bolju budućnost, koju svakako vezujemo za ovu zajednicu. Namjera je da kroz dobro osmišljen okvir ove Konferencije jasno naglasimo oblasti i sektore u kojima na nivou Zapadnog Balkana možemo ostvariti zavidne rezultate. Prisustvo predstavnika njemačkih kompanija ovdje, pokazuje njihovo interesovanje za saradnju. Želim da naglasim i u ovom izlaganju, ono što će se isticati, siguran sam, tokom oba dana trajanja Konferencije, a to je da za povećanje konkurentnosti naših pojedinačnih ekonomija, a samim tim i ovdašnjih kompanija, nedostaju kvalitetna saobraćajna i komunalna infrastruktura. To jeste veliki i nerješiv problem za svaku pojedinačnu državu Zapadnog Balkana. Stoga, regionalna saobraćajna i energetska infrastruktura moraju biti u fokusu evropske politike proširenja. Evropski fondovi moraju biti dostupniji, za konkretne investicije u infrastrukturu koje će učiniti region bližim i povezanijim međusobno, ali i sa svjetskim i evropskim tržištem. Nadam se da stavljanje u fokus pažnje usmjerene na zemalje Zapadnog Balkana, od strane Evropske unije, upravo to i nagovještava. Dame i gospodo, dozvolite, još jednom da zahvalim našem partneru, Istočnom odboru njemačke privrede na saradnji u pripremi ovog skupa. Ova privredna asocijacija tokom više od šest decenija svoga trajanja dala je izuzetan doprinos uspostavljanju i očuvanju veza svoje zemlje, u prvom redu sa Istočnom Evropom, koje su u ekonomskom smislu za Njemačku bile izuzetno važne, a u političkom dugo vremena veoma kompleksne. Takođe, pozivam sve prisutne da iskoriste ovaj skup i kao mogućnost za međukompanijsko povezivanje i razgovore. Za što bolji kvalitet realizacije Konferencije posebnu zahvalnost zaslužuju jedan broj članica Privredne komore Crne Gore, koje su se baš kao i ranije odazvale pozivu da kao sponzori podrže ovaj skup. Svim gostima želim ugodan i uspješan boravak u Budvi i Crnoj Gori, i sve vas pozivam da u mjeri u kojoj to cijenite potrebnim i korisnim uzmete aktivnog učešća u radu Konferencije. Zahvaljujem na pažnji. policies as its main precondition and instrument, to which, I believe, each of us may make contribution. I expect that this will be the main topic at the ministerial panel, too. Like I said, this would be an advantage for the region as it would become a single area for investments. This would ensure a sufficient volume and stability of investments and adequate use of comparative advantages, which we certainly have. I am sure that we from the regional, non-eu countries are absolutely aware of the crisis that the EU institutions have been through since I am sure that no one in this area has any illusion that the EU integration should not be a goal per se but that we need to raise the quality level of our economies and life in general. Therefore, the European Union must be aware that we are a wise and capable partner, capable to plan our better future, which we associate with this union. Through the well-thought framework of this conference we intend to clearly state the areas and sectors where the Western Balkans may achieve remarkable results. The participation of the representatives of German companies here testifies of their interest for cooperation. Hereby I want to emphasize something that I am sure will be one of the main topics during the two-day conference for raising the competitiveness level of our respective economies and our companies, we need quality transport and utility infrastructure. That is a big and and an insoluble problem for each of the Western Balkan countries. Therefore, regional transport and energy infrastructure have to be in the focus of the European enlargement policy. European funds need to be more available for concrete investments in the infrastructure, which will make the region closer and better interconnected, but also connected with the world and European market. I hope that the EU focusing on the Western Balkan countries indicates that this exactly is going to happen. Ladies and gentlemen, let me express our gratitude once again to our partner, the German Committee on Eastern European Economic Relations, for their cooperation in the preparation of this event. During the six decades of its existence, this economic orgranization has made invaluable contribution to the establishment and maintenance of its country s foreign relations, primarily with the Eastern Europe, which were especially important for Germany from the economic point of view while the political relations were very complex for a long period of time. Also, I invite all participants to use this as an opportunity for establlishing mutual connections and holding talks. I express special gratitude to a certain number of the members of the Chamber of Economy of Montenegro which responded to our invitation to support this event as sponsors and raise the quality level of the conference. To all our guests I wish a pleasant and successful stay in Budva and Montenegro and I invite you to take part in the work of the conference to the extent you deem necessary. Thank you for your attention. Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 17

18 ZBORNIK KONFERENCIJE 18 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

19 CONFERENCE PROCEEDINGS Dr Eckhard Cordes Predsjedavajući, Istočni odbor njemačke privrede Chairman, Committee on Eastern European Economic Relations Poštovani Premijeru Đukanović, Poštovani Predsjedniče Mijušković, Poštovani ministri, Uvaženi dame i gospodo, Dear Prime Minister Djukanovic, Dear President Mijuskovic, Dear Ministers, Dear ladies and gentlemen, U Berlinu je krajem avgusta, na inicijativu Savezne Kancelarke Angele Merkel, održana velika konferencija o Zapadnom Balkanu. To je bio događaj koji je snažno preusmjerio pažnju njemačke javnosti i Evropske Unije na strateški značaj i ogromni ekonomski potencijal ovog regiona. Izražavam veliko zadovoljstvo što samo nekoliko mjeseci nakon što je rasprava u Berlinu označila povratak Zapadnog Balkana u žižu inretesovanja Evrope, danas u Crnoj Gori pokazujemo da ta inicijativa ima kontinuitet i da će u potpunosti zaživjeti kroz nove ideje o regionalnoj saradnji koje ćemo promovisati na konferenciji u Bečićima. Uvaženi dame i gospodo, želim da zahvalim svima koji su se odazvali zajedničkom pozivu Privredne komore Crne Gore i Komiteta za saradnju sa Istočnom Evropom Federacije industrijalaca Njemačke. Ideja o organizovanju današnje konferencije je nastala prije nešto više od godinu dana, tokom razgovora Predsjednika Crne Gore Filipa Vujanovića i Izvršnog direktora Komiteta za saradnju sa Istočnom Evropom Rainera Lindnera. Ukoliko želi da ekonomski osnaži, Zapadni Balkan svoju budućnost mora promišljati u geografskoj i ekonomskoj cjelosti, a Evropa mora razumjeti njegove ključne aktere. Naš cilj je da ojačamo cio region od Jadranskog mora do Dunava i da taj prostor posmatramo kao jednu investicionu zonu. Najbolji način da to postignemo je regionalana saradnja. Regionalna saradnja je početak svakog rješenja za evropsku ekonomsku integraciju Balkana i ujedno mjesto gdje se taj put završava. Samo udruženim naporom ćemo uspjeti da razvijemo postojeće regionalne ekonomske potencijale i uspješno se suočimo sa preostalim izazovima za koje je jasno da još nisu savladani. Iskusili smo, nažalost mnogo godina u kojima je taj prekogranični dijalog bio prekinut i dragocjeno vrijeme je izgibljeno. Ipak, ohrabrujuća ćinjenica da su svih osam ministara zaduženih za ekonomska pitanja iz zemalja regiona učesnici današnje konferencije, govori u prilog impresivnog napretka u pogledu političke stabilizacije Balkana posljednjih godina. In Berlin at the end of August a major Western Balkans conference was held on the initiative of the Federal Chancellor. This conference emphatically raised awareness in Germany and the EU for the region s enormous development potential. I am extremely pleased that today, only four weeks after the discussions in Berlin, we are now continuing them in Montenegro, providing an opportunity to add new ideas for joint cooperation. Dear ladies and gentlemen, I would like to thank you all for accepting the invitation of the Chamber of Commerce of Montenegro and the Committee on Eastern European Economic Relations. The idea for today s conference was born over one year ago in a talk between President Filip Vujanovic and the Executive Director of the Committee on Eastern European Economic Relations, Rainer Lindner. Our goal is to strengthen the entire region between the Adriatic and the Danube as an investment location. This is best achieved through close regional cooperation. It is through such joint efforts that we will succeed in developing the region s existing economic strengths and facing up to the challenges that clearly remain. Unfortunately we experienced a number of years in which this cross-border dialogue was disrupted. Valuable time was lost. However, the fact that all eight of the region s ministers responsible for the economy are participating in today s conference demonstrates the impressive progress in political détente of recent years. I would like to thank you, dear ministers, for your willingness to continue this cross-border dialogue following the meeting in Berlin. You are sending out an important signal for a new economic dynamics in the region. I would also like to warmly thank the Chamber of Commerce of Montenegro, and you, Mr Mijuskovic, as its representative, for the excellent cooperation in the organisation of this Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 19

20 ZBORNIK KONFERENCIJE Zahvaljujem vam poštovani uvaženi ministri, na pokazanoj dobroj volji i spremnosti da nastavite međususjedski dijalog koji smo započeli sastankom u Berlinu. Time upućujete jasan signal da region ulazi u novu dinamiku ekonomskog razvoja. Želio bih takođe da zahvalim Privrednoj komori Crne Gore i Vama lično, Predsjedniče Mijušković kao njenom predstavniku za besprekornu saradnju na organizaciji ove konferencije. Počev od 2003 godine sve zemlje Zapadnog Balkana imaju perspektivu ulaska u Evropsku Uniju i institucionalizovanu saradnju sa njom kroz različite faze pristupnog procesa u kojem se nalaze. Upravo je otvaranje perspektive da u bliskoj budućnosti postanete integralni dio najvećeg svjetskog ekonomskog regiona učinilo vaše zemlje tako privlačnom destinacijom za investitore iz stranih kompanija. Vaše zemlje danas više od polovine svoje spoljnotrgovinske razmjene realizuju u odnosima sa Evropskom Unijom. Tome bih dodao i da smo veoma ponosni što su njemačke kompanije naročito aktivno prisutne u vašim zemljama. Ipak, bilo bi pogrešno smatrati dovoljnim ono što je do sada postignuto. Zajedničkim radom možemo ostvariti mnogo više. Njemačke kompanije su prepoznatljive po temeljnom ispitivanju investicionog ambijenta prije nego što se uvjere u ispravnost odluke da ulože kapital. Solidan, pouzdan institucionalni okvir, transparentne administrativne procedure, zatvoren prolaz korupciji dobrim zakonima to su preduslovi od odlučujućeg značaja. Međutim, kada donesu odluku da investiraju u neku zemlju, njemačke kompanije su apsolutno pouzdani partneri i poslodavci. Oni ostaju dugoročno privrženi lokalnoj sredini i proširenju ulaganja u njen napredak. Bez ikakve sumnje, jedan od najkrupnijih izazova s kojim je region suočen je obnova prekogranične infrastrukture. Elektroprenosne mreže, autoputevi, željeznice, mreže za odvođenje vode potreba za modernizacijom svakog od ovih sistema je ogromna. Ovogodišnje katastrofalne poplave čije su posljedice najviše štete pričinile u Bosni i Hercegovini, Srbiji i Hrvatskoj su koliko upozoravajuće, toliko i podsticajne za preduzimanje zajedničke akcije: udruženim naporom možemo iznaći rješenje i za najteže izazove. Intenzivna međususjedska saradnja u regionu je ključna za ekonomski rast i prosperitet regiona. Pozivam vas da danas nastavimo dijalog po ovom pitanju. Za panel diskusiju smo odabrali sektore u kojima svaka od zemalja regiona ima ogroman razvojni potencijal. U nastojanju da na vašim interesima formiramo teme o kojima će se razgovarati, opredijelili smo se za energetsku efikasnost, poljoprivredno-prehrambenu industriju, turizam, lokalnu infrastrukturu s posebnim akcentom na vodu i otpadne vode i na kraju, pitanje finansijskih izvora. Tokom diskusije ćemo razmotriti i kako predpristupna pomoć Evropske Unije može biti efikasnije upotrijebljena za realizaciju projekata prekogranične saradnje i kako možeconference. Since 2003 all the countries of the Western Balkans have an EU accession perspective. It is precisely this prospect, of becoming part of the world s largest economic region, which makes your countries so interesting as an investment location for foreign companies. Today over half of your countries trade in goods is already conducted with the European Union. And we are very proud that it is German companies that are especially active in your countries. However, it would be wrong to be satisfied with what has been accomplished. Together we can achieve far more. German companies are known for conducting a thorough assessment before making an investment decision. Good, reliable framework conditions, transparent bureaucratic processes, freedom from corruption these are decisive preconditions. However, once a decision has been made on an investment location, German companies are absolutely reliable partners and employers. They remain faithful to their location. Without doubt, one of the biggest challenges faced in the region is the renewal of the cross-border infrastructure. Energy networks, motorways, train routes, waterways the need for modernisation is great. The flood catastrophe in particular, which caused major damage in Bosnia Herzegovina, Serbia, and in Croatia again recently, is both a warning and a spur to further action: Together we can find the best solutions to major challenges. Intensive, cross-border cooperation in the region is the key to growth and prosperity. Let us continue the dialogue on this issue here today. For the panels we have selected economic sectors where all your countries have enormous development potential. The themes under discussion are energy and energy efficiency, the agri-food industry, tourism, municipal infrastructure with a special focus on water and waste water, and financing questions. In the process let us discuss how the EU pre-accession aid can be used more effectively for cross-border projects and how we can promote closer coordination in regional economic development. Above all, we need to provide more support for small and medium-sized businesses which form the backbone of the economy. It is for this reason that I would like to extend a special welcome to the presidents of the chambers of commerce of the Western Balkans who will also participate in our dialogue. Without doubt the high youth unemployment represents an enormous challenge for all your countries. Giving young people a chance develop their abilities and em- 20 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

21 CONFERENCE PROCEEDINGS mo poboljšati koordinisano upravljanje pravcima regionalnog ekonomskog razvoja. Od prioritetnog je značaja da se obezbijedi konkretnija podrška za mali i srednji biznis koji čini kičmu zdrave ekonomije. Iz tog razloga želim posebnu dobrodošlicu predsjednicima privrednih komora Zapadnog Balkana koji će takođe učestvovati u našem dijalogu. Visoka nezaposlenost mladih bez ikakve sumnje predstavlja krupan izazov za sve vaše zemlje. Dati šansu mladim ljudima da razviju svoje sposobnosti i uposliti ih u korist modernizacije njihovih zemalja je pitanje koje zaslužuje maksimalnu zajedničku posvećenost. Novo vrijeme traži nove, nekonvencionalne ideje kako bismo otvorili prostor za produktivan angažman mladih ljudi. Dualni sistem obuke za stručno osposobljavanje vaših diplomaca je u potpunosti opravdao svrhu. Taj model vam je poznat. Ipak, postoji čitav niz pratećih instrumenata podrške, na primjer finansijski podsticaji za mlade osnivače kompanija i njihovo usavršavanje uz pomoć iskusnih privrednika. Mladi ljudi na Zapadnom Balkanu sigurno nisu ništa manje inteligentni ili kreativni od svojih njemačkih kolega slične dobi. Ono što nedostaje su razrađeni mehanizmi koji će aktivirati njihov kreativni potencijal. Više od decenije je Komitet za saradnju s Jugoistočnom Evropom Federacije industrijalaca Njemaćke aktivan u regionu kroz Program stipendiranja Zoran Đinđić namijenjen mladima Zapadnog Balkana kojima se omogućava obuka i dalje stručno usavršavanje diplomaca putem prakse u njemačkim kompanijama. Do sada je 500 mladih ljudi iz vaših zemalja prošlo ovaj program stipendiranja. Njih oko 50 učestvuje u radu današnje konferencije. Ti ljudi su bogatstvo i osvjedočena nada u evropsku budućnost vaših zemalja, najbolji realni primjer snage uvjerenja da je Evropa zajednički dom za sve koji usvajaju njene vrijednosti i spremni su da uče i usavršavaju se. Toplo vam preporučujem da otvorite dijalog sa tim mladim ljudima i debatujete o njihovim željama i idejama. U nastavku ove konferencije, svršeni polaznici programa Zoran Đinđić će održati svoju sedmu Regionalnu Konferenciju koja okuplja sve korisnike stipendija koji su završili obuku. Njihova okupljanja su prerasla u mrežu saradnje od koje očekujemo da postane mjesto gdje se rađaju progresivne ideje i snažni impulsi prekograničnoj saradnji. Uvažene dame i gospodo, Svaka od balkanskih zemalja izolovano posmatrano predstavlja samo jedno malo i ograničeno tržište. Ipak, ukoliko ostvarimo napredak u svojim nastojanjima da bliže ekonomski povežemo vaše zemlje, stvorićemo jak ekonomski region u okviru Evrope. Pozivam vas da zajedno radimo na dostizanju tog cilja. U duhu takvog poziva, dozvolite da vam poželim uspješan rad tokom zajednički provedenog vremena u Budvi od kojeg ćemo svi imati koristi. ploy them to the benefit of their country is something we must work on together. New, perhaps unconventional ideas, are required here. The dual training system for the training of young skilled workers in Germany has proven itself. You are familiar with this. However, there are a range of further instruments, for example financial incentives for young company founders and their support by experienced entrepreneurs. Young people in the region are no less intelligent and creative than their colleagues of the same age in Germany. All we have to do is activate their potential. For more than a decade the Committee on Eastern European Economic Relations of the Federation of German Industries has been active in the region through the Zoran Djindjic -Internship Programme for the Western Balkans, promoting the training and further education of young graduates in German companies. 500 young people from all your countries have passed through the programme to date. Around 50 of them are taking part in this conference today. These young people are a treasure and a beacon of hope for your countries. I warmly invite you to enter into dialogue with these young people and discuss their ideas and wishes. Immediately following our conference the alumni of the Zoran Djindjic Internship Programme will be holding their 7th Regional Alumni Conference. This has developed into a network from which we expect many exciting impulses for cross-border cooperation. Dear ladies and gentlemen, in themselves, the countries of the Western Balkans generally only constitute a small, limited market. However, if we succeed in bringing about a closer economic integration of your countries, then we will have created a strong economic region within Europe. Let us work together to achieve this. In this spirit, I would like to wish us a successful and fruitful time in Budva. Many thanks! Srdačno zahvaljujem na pažnji. Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 21

22 ZBORNIK KONFERENCIJE 22 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

23 CONFERENCE PROCEEDINGS Andreas Obersteller Zamjenik generalnog direktora, Sektor za evropsku politiku, Njemačko savezno ministarstvo za privredu i energiju Deputy Director General, Department European Policies, German Federal Ministry for Economic Affairs and Energy Poštovani Premijeru Đukanović, Uvaženi gospodine Mijušković, Doktore Cordes, Poštovani ministri, Članovi Parlamenta, Vaše ekscelencije, Dame i gospodo, Zapadni Balkan je ponovo dospio u središte interesovanja i velika pažnja koju privlači svjedoči o drugačijem vrednovanju njegovog strateškog i ekonomskog značaja. Sada kada se Balkan ponovo našao na glavnom pravcu evropskih ekonomskih kretanja, intenzivna regionalna saradnja se izjednačuje sa prilikom da se uzlazni trend prevede u stabilan ekonomski rast regiona u cjelini. To što su pogledi medija i javnosti usmjereni prema Balkanu, predstavlja poziv za kreatore lokalnih politika da donesu ispravne odluke i postignu vidljive rezultate. Ako obratimo pažnju na medijsko praćenje zbivanja u regionu, primjetna je tendencija naglašavanja mogućnosti koje region pruža, mnogo više nego zapažanje rizika, koji su takođe realnost. Prije otprilike mjesec dana, 28 avgusta, Kancelarka Angela Merkel je u Berlinu ugostila predsjednike vlada svih zemalja Zapadnog Balkana. Tog istog dana, veliki broj vas, ovdje danas prisutnih je takođe bio u Berlinu i učestvovao na Biznis konferenciji o Zapadnom Balkanu organizovanu na visokom nivou na poziv Saveznog ministra za ekonomske poslove i energetiku Sigmara Gabriela. Osnovno polazište i kjučna ideja ove konferencije je regionalna saradnja. Čuli su se jasni pozivi za intenzivnijom regionalnom saradnjom na gotovo svakom poslovnom pitanju, počev od energetike i saobraćajne infrastrukture, podrške malom i srednjem biznisu i specijalizovanom obučavanju. Postaje potpuno jasno da ćemo se lakše suočiti sa tim izazovima ukoliko zemlje regiona udruže svoje snage u rješavanju ovih pitanja. U svom završnom obraćanju na Konferenciji o Zapadnom Balkanu, Kancelarka Merkel je nedvosmisleno stavila do znanja da je Vlada Njemačke posvećena podršci procesu reformi: Savezna Vlada saopštava da postoji izvjesna perspektiva učlanjenja u Evropsku Uniju zemalja Zapadnog Balkana Prime Minister Djukanovic, Mr Mijuskovic, Dr Cordes, Ministers, Members of Parliament, Excellencies, Ladies and Gentlemen, The Western Balkans are once again attracting a great deal of attention. The region is in the spotlight of the media and policy-makers are called upon to take positive decisions and achieve visible results. And if we take a closer look at the media coverage, we will find that it tends to focus on opportunities in the region, rather than on the risks which are, of course, also a reality. About a month ago, on 28 August, Chancellor Merkel hosted the West Balkans Conference which brought all of the heads of government from the Western Balkans to Berlin. That same day, many of you were in Berlin to participate in a high-level Western Balkans business conference at the invitation of Federal Minister for Economic Affairs and EnergySigmar Gabriel. The leitmotif of this conference was regional cooperation. There were calls for deeper regional cooperation on almost every business-related issue, ranging from energy and transport infrastructure, to support for SMEs and vocational training. It became very clear that tackling these challenges will be much easier if neighbouring countries join forces on these issues. In her final declaration on the Western Balkans Conference, Chancellor Merkel made it clear that the German Government is committed to supporting the process of reform: the Federal Government states that there is a prospect of EU membership for the countries in the Western Balkans; the countries participating in this conference have made a clear commitment to good governance; and the German Government will be working alongside German industry to design specific projects that will promote economic development in the Western Balkans. This conference, which is being generously supported by the Committee on Eastern European Economic Relations, is part of these efforts. We have come here to Budva to discuss ways of further en- Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 23

24 ZBORNIK KONFERENCIJE zemlje učesnice ove konferencije su nedvosmisleno izrazile svoju privrženost evropskim vrijednostima vladavine prava i principima dobrog upravljanja u svojim zemljama. Njemačka Vlada će u saradnji da njemačkom industrijom raditi na izradi posebnih projekata koji će podsticajno djelovati na ekonomski razvoj Zapadnog Balkana. Današnja konferencija, koja je nesebično podržana od strane Komiteta za ekonomske odnose sa Jugoistočnom Evropom, čini dio tog jedinstvenog napora. Došli smo danas u Budvu da bi razgovarali o daljim koracima koje treba napraviti u cilju jačanja regionalne saradnje na Zapadnom Balkanu. Uporedo sa povratkom Balkana u centralni istorijski tok razvoja i integracija, ispostavilo se da mnoge industrijske grane ovog regiona spadaju u zonu od prioritetnog interesa Njemačke i Evrope u cjelini. Region kontinuirano dobija na ekonomskom zanačaju. Uzmimo primjer energetike: mnoge balkanske zemlje raspolažu enormnim potencijalom obnovljivih izvora i mogu pomoći Evropi u dostizanju njenih srednjoročno i dugoročno postavljenih ciljeva u oblasti energetske efikasnosti i klimatskih promjena. Ne zaboravimo i da je Zapadni Balkan uključen u glavne projekte izgradnje gasovoda na Južnom koridoru. Energetska sigurnost je krupan integrišući cilj i neophodna je tješnja saradnja na ovim pitanjima, ne samo među zemljama Zapadnog Balkana, već i unutar Energetske Zajednice Jugoistočne Evrope. Druga oblast od ogromne važnosti je logistika. Zapadni Balkan nas povezuje sa velikim tržištima koja uključuju i Tursku, koja je najvažnije rastuće tržište kada su njemački ekonomski interesi u pitanju. Takođe, zemljama regiona je potreban brz i siguran pristup evropskom tržištu, što je izuzetno važno za njihov rast. Preduslov za to je moderna saobraćajna infrastruktura, kako bi zemlje Zapadnog Balkana i njihove kompanije mogle da ostvaruju prihode i integrišu se u širi sistem logistike i postanu karike u lancu stvaranja nove vrijednosti. Ukoliko neko smatra nedovoljno ubjedljivim dosad iznijete argumente u prilog značaja Zapadnog Balkana za njemačku ekonomiju, dovoljno je uzeti u obzir statističke podatke o trgovinskoj razmjeni. Tokom posljednje tri godine, vrijednost robne razmjene između Njemačke i zemalja Zapadnog Balkana je bila u stalnom porastu, da bi na kraju ovog perioda zabilježila rast od 25%. Regionalna saradnja svih zemalja Zapadnog Balkana je zajednički imenitelj svih pitanja o kojima će se tokom trajanja ove konferencije raspravljati. Sve vaše zemlje dijele isti cilj pridruživanja Evropskoj Uniji. Imati Sloveniju i Hrvatsku za najbliže susjede je prednost koju treba iskoristiti. Obje zemlje imaju bogato iskustvo u predpristupnim pregovorima i znaju na kojim principima je zasnovana saradnja unutar Evropske Unije. U slučaju Slovenije, koja je postala članica EU još prije 10 godina, ekonomhancing regional cooperation in the Western Balkans. 1. BedeutungWestbalkan Across many fields of industry, the Western Balkans are of key interest to Germany and Europe as a whole. And the region is growing in importance. Let s take energy, for example: many countries in the Western Balkans have tremendous potential for renewables and could thus help Europe achieve its medium and long-term energy-efficiency and climate targets. And let us not forget that the Western Balkans are also involved in major pipeline projects for the Southern corridor. Close cooperation is needed on all of these issues not only among the countries in the Western Balkans, but also in the South-Eastern Europe Energy Community. Another key area is logistics. The Western Balkans link us up to large markets including Turkey, which is a major growth market for Germany. And the countries in the region need quick and reliable access to the European markets, which are important for them. To make all of this happen, a modern transport infrastructure is needed so that the countries in the Western Balkans and their companies can generate revenue and become part of larger global logistics and value chains. If anyone is looking for additional proof of how important the Western Balkans are for Germany, they need look no further than the trade statistics. Over the last three years, the volume of goods traded between Germany and the countries in the Western Balkans has soared, rising by more than 25%. 2. Kooperation und EU-Annäherung This conference is all about closer cooperation between all of the countries in the Western Balkans. All of your countries share the objective of joining the European Union. Having Slovenia and Croatia as your direct neighbours is a clear asset. Both countries have ample experience with accession talks and know how cooperation works within our Union. In the case of Slovenia, which joined the EU 10 years ago, the benefits of EU membership and of economic cooperation with EU member states are particularly apparent. As we explore the various options for cooperation within the Western Balkans, we should therefore never neglect the European dimension our shared values and standards. Good governance is the term that sums up some of the most important requirements that are required of any government of an EU member state. Economic policy is one of the key areas in which accession candidates can and must introduce and abide by European rules and standards from an early stage of the accession process. This applies to infrastructure projects and to the all important energy sector. 24 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

25 CONFERENCE PROCEEDINGS ski učinci i direktne koristi od članstva i saradnje po unutrašnjim pravilima evropskog tržišta su naročito uočljivi. Iako razmatramo različite modele saradnje zemalja Zapadnog Balkana, nikako ne možemo zanemariti evropsku dimenziju naše zajedničke vrijednosti i standarde. Dobro upravljanje je termin koji sažima neke od najbitnijih zahtjeva koje svaka vlada zemalja članica Evropske Unije mora ispuniti, a tiču se prije svega vladavine prava i poštovanja demokratskih principa vršenja vlasti. Ekonomska politika i tržišni principi su jedna od ključnih oblasti gdje zemlje kandidati moraju pokazati privrženost poštovanju evropskih pravila i standarda na samom početku procesa pristupanja. To se odnosi na infrastrukturne projekte i na sve značajniji energetski sektor. Posljednja runda proširenja Evropske Unije nas je naučila da jedan takav poduhvat zahtijeva krupne reformske rezove - naročito ekonomske reforme. Te reforme su uspješnije ukoliko su vođene u duhu evropskih vrijednosti i standarda u poređenju sa samim pridržavanjem slova zajedničke pravne tekovine (acquiscommunautaire). Iskustvo nas je naučilo da se krupne reforme veoma brzo opravdavaju sebe i postaju isplative: već u toku samih pristupnih pregovora koji prethode učlanjenju u EU ekonomski razvoj dobija novo ubrzanje zahvaljujući napretku koji je posljedica funkcionisanja institucija na reformskim principima. Dame i gospodo, Napredak na putu na čijem se kraju nalazi punopravno članstvo u EU, svakim daljim odmicanjem otvara neprocjenljive šanse za jaku i brzu ekonomsku modernizaciju zemalja u procesu pregovaranja i zemalja kandidata za članstvo. Čvsto sam uvjeren da je tješnja saradnja u okviru Zapadnog Balkana preduslov za dinamičniji ekonomski razvoj Balkana. Svaki plan razvoja i integrisanja u evropsko tržište se apsolutno rimuje sa potrebom regionalne saradnje. Ono što je po mom viđenju od ključne važnosti u ovom momentu je jačanje industrijskog sektora i usvajanje koherentne industrijske politike za Zapadni Balkan. Jak industrijski sektor čiju okosnicu čine mala i srednja preduzeća koja bilježe dobre izvozne rezultate, imaju realnu perspektivu pokretačke snage ekonomskog razvoja u regionu. Njemačke kompanije koje su investirale u Jugoistočnoj Evropi i veoma su uspješne u izvozu proizvedenih dobara, na ubjedljiv način ilustruju da su regionalni klasteri zasnovani na specifičnim sektorskim prednostima regiona najbolje sredstvo za generisanje toliko potrebnog rasta od kojeg koristi imaju i lokalne kompanije takođe. To je primjer kako regionalno osmišljena strategija može privući strane investicije u krupnijem obimu i proizvesti veoma pozitivne efekte za sve uključene zemlje Zapadnog Balkana. The last rounds of enlargement have also taught us that it takes a great deal of bold reform particularly economic reform. These reforms should be guided by the spirit of European values and standards rather than by the wording of the acquiscommunautaire. Experience has taught us that bold reforms pay off quickly: it is during the accession process, i.e. before accession to the EU that economic development starts to pick up speed thanks to the institutional improvements required. Ladies and gentlemen, Going down the European road holds tremendous opportunities for strong and dynamic economic modernisation of accession countries and candidates for accession. I am firmly convinced that closer cooperation within the Western Balkans is the key to more dynamic economic development within the region. In my opinion, what is crucial here is to strengthen the industrial sector and to develop a coherent industrial policy for the Western Balkans. A strong industrial sector with SMEs that are also highly successful on the export markets can create a great deal of economic dynamism in the region. German companies which have invested in Southern Europe and are very successful in exporting their goods have demonstrated that regional and sector-specific clusters can generate much-needed growth from which local companies will benefit, too. This is how regional strategies designed to attract larger amounts of foreign investment can have a very positive impact on all countries within the Western Balkans. If the governments within the region want to create global players in the Western Balkans, they will have to engage in cross-border cooperation. 3. Schluss Ladies and gentlemen, The Western Balkans are attracting a great deal of attention again. It s up to policy-makers to make sure that it stays that way. And that German companies, in particular, make more investments in the Western Balkans. This is best achieved by keeping the flow of good news going. And by sending a strong signal to investors by speaking with the same voice and by working hand in hand. The German government and its partners will continue to pay close attention to the Western Balkans and be at your side. I wish us all a very successful and stimulating conference. Thank you! Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 25

26 ZBORNIK KONFERENCIJE Ukoliko vlade zemalja regiona žele da stvore globalne tržišne igrače na Zapadnom Balkanu, moraće da se angažuju u pravcu jačanja prekogranične saradnje. Dame i gospodo, Zapadni Balkan ponovo privlači pažnju najvažnijih aktera evropske ekonomske politike. Na vama koji donosite odluke u svojim zemljama je da očuvate taj trend i obezbijedite da ideja o evropskom Balkanu dobije svoju realizaciju. Njemačke kompanije sve više ulažu u zemlje Zapadnog Balkana i to je proces koji takođe zahtijeva kontinuitet da bi dao željene ekonomske učinke. Tome ćemo doprinijeti na najbolji način ukoliko nastavimo da sa Balkana šaljemo dobre vijesti. Signal koji treba poslati investitorima je sposobnost da o razvojnim pitanjima govorimo jednim glasom i da na njima radimo udruženim snagama. Njemačka Vlada i njeni partneri će nastaviti da posvećuju veliku pažnju i podržavaju Zapadni Balkan na način da jasno osjetite da smo na vašoj strani. Želim vam uspješnu Konferenciju koja će podsticajno uticati na buduće aktivnosti u pravcu ekonomske integracije Zapadnog Balkana. Zahvaljujem na pažnji. 26 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

27 CONFERENCE PROCEEDINGS Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 27

28 ZBORNIK KONFERENCIJE 28 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

29 CONFERENCE PROCEEDINGS Milo Đukanović Predsjednik, Vlada Crne Gore President, Government of Montenegro Dame i gospodo, Zadovoljstvo mi je da vas pozdravim u ime Vlade Crne Gore i u svoje ime na 4. Konferenciji Ekonomija Crne Gore 2014., koju organizuje Privredna komora Crne Gore. Ove godine u saradnji sa Istočnim odborom njemačke privrede, što ovom već tradicionalnom okupljanju daje poseban značaj. Kao i tema: Ekonomija osnov povezivanja regiona Zapadnog Balkana. Svakako, i nivo učesnika. Pozdravljam ministre ekonomija, i predsjednike privrednih komora država Zapadnog Balkana, kao i predstavnike biznis krugova. Posebno pozdravljam predsjedavajućeg Istočnog odbora njemačke privrede Ekarda Kordesa, i izvršnog direktora Rajnera Lindnera. Zahvaljujem Istočnom odboru na saradnji sa Crnom Gorom, na promociji naše zemlje, kao i regiona, njegovih ekonomskih i ukupnih potencijala. Pozdravljam sve učesnike Konferencije, uz najbolje želje za uspješan rad i prijatan boravak u Crnoj Gori. Ekonomija je tradicionalno, opravdano, glavna tema ovih godišnjih skupova. Kao i mnogih drugih širom regiona. To je potvrda da postoji konsenzus i u regionu i u EU o uzrocima zaostajanja i mogućnostima razvoja, kao i napretka u integracijama. To je potvrdila i Konferencija o Zapadnom Balkanu krajem prošlog mjeseca u Berlinu, u čijem je završnom dokumentu posebno apostrofiran značaj današnjeg skupa u Crnoj Gori, i izražena očekivanja za konkretan doprinos boljem ukupnom regionalnom povezivanju. Nova inicijativnost Njemačke i EU prema Zapadnom Balkanu daje nam pravo na nadu da će biti ostvaren cilj ove Konferencije, kako je istakao i gospodin Kordes, da se region predstavi kao atraktivno mjesto za investiranje, i da se kroz zajedničke prekogranične projekte otpočne sa bliskijom saradnjom na promociji regionalnog ekonomskog razvoja. Vjerujem da će to biti novi podsticaj rješavanju važnih pitanja za našu budućnost. Mislim i na ubrzanje integracije u EU i NATO. To je put da osnažimo i modele saradnje među državama na koje se odnosi strategija SEE Iako Balkan nikada u istoriji nije bio bolje i stabilnije mjesto za život i biznis, pred nama je težak posao, i dug put. Region se mukotrpno izvlači iz dvostruke recesije. Ekonomski rast je nestabilan, iako je u prosjeku u iznosio 2,2%. Socijalna i ukupna situacija je opterećena visokom nezaposlenošću koja se prosječno kreće iznad 20%. Procjene su da će ekonomija u ovoj godini porasti 1,9%, a u sljedećoj Ladies and gentlemen, It is my pleasure to greet you on behalf of the Government of Montenegro and my own at the Fourth Conference on the Economy of Montenegro 2014, organized by the Chamber of Economy of Montenegro. This year the conference is organized in cooperation with the German Committee on Eastern European Economic Relations, which gives this traditional meeting special signifance, along with the topic Economy the Basis for Connecting the Western Balkan Regions and, certainly, the level of participants. I greet the ministers of economy and presidents of the Western Balkan chambers, as well as the representatives of business circles. I would like to greet the President of the German Committee on Eastern European Economic Relations, Echard Cordes, and the Executive Manager, Rainer Lindner. I thank the German Committee on Eastern European Economic Relations for their cooperation with Montenegro and the promotion of our country, the region, and its economic and overall potentials. I greet all participants of the conference and express my best wishes for a successful work and a pleasant stay in Montenegro. Traditionally, the economy is justifiably the main topic of annual meetings, as well as many other events across the region. This is the confirmation that there is a consensus in the region and the EU on the causes of delay, opportunities for development and progress in integrations. This has been confirmed by the Conference on the Western Balkans held in Berlin at the end of the last month, which final document specifically emphasized the significance of today s meeting in Montenegro and the expressed expectations for a concrete contribution to the improved regional networking. As Mr Cordes has stated, the new initiative of Germany and the EU towards the Western Balkans gives us the right to hope that the aim of this conference will be achieved, that the region will be presented as an attractive location for investments and that, through joint cross border projects, a closer cooperation on the promotion of the regional economic development will be achieved. I believe that this will be a new incentive for the solution of issues which are relevant for our future. By this I also imply the speeding up of the EU and NATO integration processes. This is the road to strengthen the models of cooperation among the states to which the Strategy SEE 2020 refers. Although the Balkans has never been a better and more Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 29

30 ZBORNIK KONFERENCIJE 2,6%. Međutim, ne smijemo ispustiti iz vida činjenicu da je od početka ove godine ekonomija regiona suočena sa snažnim deflacionim pritiskom. Dodatno, velike poplave u Srbiji i Bosni i Hercegovini, djelimično i u Hrvatskoj, ostavile su izuzetno negativne posljedice po ekonomiju regiona. Bilo bi katastrofalno za socio-ekonomsku situaciju, i za stabilnost, da ZB skrene u treću recesiju. Ne bi dobro bilo previdjeti ni sadašnji sociopolitički ambijent u kojem djeluju naše vlade. Utisak je da euroentuzijazam s kraja prošlog i početka ovog vijeka jenjava. Posljedice evropske i globalne ekonomske krize zamagljuju horizont očekivanog kvalitetnijeg života priključivanjem evropskoj porodici. Dinamiku integracionih procesa kao da ipak određuje zamor od proširenja, bez obzira na suprotna zvanična uvjeravanja. Decidna poruka iz nove Evropske komisije da u narednih pet godina nema proširenja EU svakako nije stimulativna. Kod nas u Crnoj Gori dodatno, i zbog odlaganja poziva za članstvo u NATO. Stvara se utisak da se nalazimo u začaranom krugu. Ponekad EU potencirajući pitanje vladavine prava zanemaruje širi kontekst. Kao da se ne želi vidjeti da to nije autonoman problem. On je prevashodno posljedica viševjekovnog ekonomskog i demokratskog zaostajanja u razvoju. Dakle, jednako je tačno da bez kvalitetne vladavine prava nedostaje investicija, time i novih radnih mjesta. Kao i to da bez razvoja i makar minimalne ponude rješenja za egzistencijalne probleme ponude radnih mjesta, nije jednostavno unapređivati vladavinu prava. A ekonomskog napretka i nove zaposlenosti ne može biti bez rješavanja uskih grla u infrastrukturi regiona. To nije samo razvojno, nego u slučaju Balkana i bezbjednosno pitanje. Mnoge predrasude i danas ovdje žive zbog nedovoljnog međusobnog poznavanja. Otuda i naši strahovi od međusobnih razlika. I potreba da te razlike potiremo, umjesto da ih njegujemo. Nijedna od država regiona nije u stanju sama da riješi sve te deficite. Budžeti su mali, zaduženja visoka... U uslovima krize potpuno je zamro model javno-privatnog partnerstva u finansiranju infrastrukture. Evropski fondovi pomoći za rješavanje takvih problema namijenjeni su članicama EU. A naš put do tog statusa je usporen sa obrazloženjem koje potencira vladavinu prava. To je taj začarani krug iz kojeg moramo naći izlaz. Prije svega mi sami, na način da zainteresujemo EU, naše međunarodne partnere, da nam pomognu u tome. Želim da bude jasno ne mislim da izlaz treba tražiti u snižavanju kriterijuma u pogledu vladavine prava, demokratizacije društva, poštovanja ljudskih prava i ispunjavanja drugih političkih standarda. Ali smatram da već sada treba kreirati izdašniji investicioni okvir za Zapadni Balkan, čiji će cilj biti da infrastrukturno poveže region. I unutar njega, i sa ključnim evropskim koridorima. Veliku ulogu u tome, uz EU, imaju EBRD i EIB. Uz finansijsku asistenciju neophodna je i njihova ekspertska pomoć da se najracionalnije definišu dugoročni prioriteti od zajedničkog interesa. Veoma je važno da uz podršku EU zajednički koncipiramo strateški program većih investicija u regionalnu vezivnu, čvrstu i meku infrastrukturu, u transportu, energetici, informacionim tehnologistable place for life and business, ahead of us is a difficult task and a long road. The region is working hard to survive a double recession. The economic growth is unstable although in 2013 it reached 2.2%. The social and overall situation is burdened with high unemployment which average reaches over 20%. There are estimations that this year the economy will rise for 1.9% and in the next for 2.6%. However, we must not forget that since the beginning of this year, the economy of the region has faced a strong deflation pressure. In addition, big floods in Serbia, Bosnia and Herzegovina, and partly Croatia, have left extremely negative consequences for the regional economy. It would be catastrophic for the socio-economic situation and stability if the WB hit the third recession. We should not overlook the current socio-political climate either. There is an impression that the Euro-enthusiasm from the end of the last and the beginning of this century is fading out. The consequences of the European and global economic crisis dim the horizon of the expected quality life as a result of joining the European family. The dynamics of the integration processes seems to be defined by the enlargement fatigue despite the official assurances about the contrary. The firm message by the new European Commission that there will be no enlargement in the next five years is certainly not stimulating. The situation is additionally distimulating due to the postponed call for NATO membership. The impression is that we are in a vicious circle. Sometimes, by insisting on the rule of law issue, the EU neglects the wider context. It looks like they do not want to acknowledge that it is not an autonomous problem. It is primarily the consequence of the centuries-long delay of the economic and democratic development. Therefore, it is equally true that without quality rule of law there will be no investments and along with it new jobs. However, without an even minimum offer of solutions for existential problems new jobs, it is not easy to improve the rule of law. And the economic progress and new jobs cannot be generated if the main obstacles in the infrastructure of the region are not removed. In the case of the Balkans it is not only a development but also a security issue. Due to inadequate mutual knowledge of one another, there are still many prejudices across the region today. This is the cause of our fears of mutual differences and of our need to eliminate those difference instead of appreciating them. None of the regional states is capable to tackle these deficits on its own. The budgets are small and the debts are high... In the period of crisis, the model of public-private partnership in the financing of infrastructure has been totally abandoned. The EU support funds which could help solve this type of problems are available for the EU members only. And our road to achieve this status has been slowed down with the reasoning which emphasizes the rule of law. This is the vicious circle from which we must find a way out. This is something we need to do on our own, by finding a way to make the EU, our international partners, interested to help us. I want to clarify one thing, though I do not think that the way out should be sought in the reduction of criteria with respect 30 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

31 CONFERENCE PROCEEDINGS jama, znanju To će pospješiti kreiranje programa koji vode povećanju zaposlenosti, posebno mladih. Takve zajedničke strategije omogućile bi ne samo skoriju izgradnju važnih putnih, željezničkih i energetskih koridora regionalnog i šireg značaja, nego i stabilan put za brži razvoj regiona i njegovu suštinsku evropeizaciju. Za ovaj pristup potrebna je nova politička matrica EU EU kao lokomotive razvoja evropskog kontinenta, koja je najodgovornija za stabilnost i prosperitet svakog njegovog dijela, uključujući i najnerazvijenije. Ne očekujemo mi da neko iz Evrope uradi ono što moramo mi. Region će postati konkurentniji i produktivniji, i privlačnije mjesto za investiture, ako naše države, svako u svojoj kući, sprovedu odlučnije i radikalnije strukturne reforme. Hrabrije se moramo suočiti sa slabostima i definisati djelotvornije socijalne i ekonomske politike. Ne može Brisel umjesto nas otklanjati prepreke biznisu. Sami moramo stvarati ambijent za nova porodična, mala i srednja preduzeća. Međunarodni indikatori upozoravaju, iako je posljednjih godina očigledan napredak, da region Jugoistočne Evrope još uvijek nije mjesto o koje će se grabiti investitori. Pored promjene regulative, nužna je i promjena svijesti, odlučno i osmišljeno napuštanje prakse sporog i bojažljivog donošenja odluka. Nužna je nova kultura ponašanja administracije prema biznisu. Ne može biti napretka sve dok kod naših ljudi preovlađuje osjećaj da je najbolji poslodavac država. Za Crnu Goru, a siguran sam i za region, posebno su važni sljedeći regionalni projekti: Jadransko-jonski autoput, od Grčke, preko Albanije, Crne Gore, Hrvatske, Slovenije, koji bi povezao naše zemlje međusobno, i sa središtem Evrope; Jadransko-jonski gasovod (IAP). Projekat TANAP-TAP je od istorijskog značaja, ne samo za naš region, već i za Evropu. IAP bi predstavljao njegov nastavak kroz Albaniju, Crnu Goru, BiH, Hrvatsku, i dalje prema evropskim rutama. Time se za sve nas otvara potpuno nova energetska perspektiva. Crna Gora je usklađena sa energetskom strategijom EU, čiji su prioriteti nesmetano snabdijevanje energijom, razvoj konkuretnog i energetskog tržišta i održivi razvoj energetike. Diverzifikacija energetskih izvora jedna je od pretpostavki za dostizanje ovih ciljeva. Realizacija ovog projekta značajno bi doprinijela konkurentnosti biznisa, posebno u industriji, ali i kvalitetu života svakog domaćinstva. Autoput i željeznička pruga od Luke Bar do Beograda, preko Budimpešte... Radi se o projektima koji za Crnu Goru imaju neprocjenjiv značaj, i kada se radi o ravnomjernijem regionalnom razvoju, i povezanosti sa Srbijom, Centralnom Evropom i cijelim evropskim kontinentom. Očekujemo da ćemo vrlo brzo otpočeti i sa prvom dionicom autoputa u dužini od 42 km kroz partnerstvo sa zainteresovanim kineskim kompanijama. Ove dionice svakako mogu učiniti daleko atraktivnijom i Crnu Goru i region u cjelini preko boljeg korišćenja lučkih kapaciteta i veza sa pomorskim transportnim linijama. Izgradnja energetskog podmorskog kabla u saradnji sa italijanskim partnerom TERNA. Ova interkonekcija će povezati to the rule of law, democratization of society, human rights or fulfillment of other political standards. However, I do think that it is necessary to create a more substantial investment framework for the Western Balkans, which would aim at infrastructure networking of the region, as well as with the connection with the key European corridors. Apart from the EU, the EBRD and EIB have a significant role in this. In addition to financial assistance, it is also necessary to define the most rational priorities of joint interest. It is very important to create the strategic programme of larger investments in the regional networking, hard and soft infrastructure, in transport, energy, information technology, knowledge... This will boost the creation of programmes which lead to the increased employment level, especially of young people. Such joint strategies would provide not only an upcoming construction of road, railway and energy corridors of regional and wider significance but also a stable road for a faster development of the region and essential adoption of European values. In order to take such attitude we need a new EU matrix EU as the driver of European development, which is most responsible for the stability and prosperity of each of its parts, including the least developed ones. We do not expect that someone from Europe should do our task instead of us. The region will become more competitive, productive and more attractive for investors if our states, respectively, undertake more decisive and radical structural reforms. We need to face our weaknesses more courageously and define more efficient social and economic policies. We cannot expect from Brussels to eliminate business barriers on our behalf. We need to work on our own and create conditions for a new family, small and medium sized businesses. International indicators warn us that, despite a notable progress in the recent years, the region of South East Europe is still not the place the investors will fight for. Apart from the change in regulations, there is a need to change the current way of thinking. We need a decisive and well-prepared change of the current practice of slow and timid decision-making. We need a new treatment of business by the administration. No progress can be made as long as we have a prevailing opinion that the state is the best employer. The following regional projects are of special significance for Montenegro and, I am sure, for the region: Adriatic- Ionian highway, from Greece, via Albania, Montenegro, Croatia, Slovenia, which would inter-connect our countries, as well as the region and Central Europe; Adriatic- Ionian Pipeline (IAP). The project TANAP-TAP is of historical significance, not only for our region but also for Europe. IAP would represent its continuation through Albania, Montenegro, Bosnia and Herzegovina, Croatia and further towards European routes. This will open a completely new energy perspective for all of us. Montenegro is harmonized with the EU Energy Strategy, which priorities are: uninterrupted supply of energy, development of a competitive energy market and sustainable development of the energy sector. Diversification of energy sources is one of the preconditions Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 31

32 ZBORNIK KONFERENCIJE elektroenergetske sisteme EU i Balkana tehnološki najsavremenijom vezom. Njegovom izgradnjom pozicionira se ne samo Crna Gora, već region u cjelini, kao važno evropsko energetsko čvorište. To će doprinijeti valorizaciji energetskih potencijala i naše zemlje i regiona, i omogućiti stabilniji pristup evropskom energetskom tržištu. Crna Gora je zainteresovana za obnavljanje pregovora sa susjednim državama i radi postizanja dogovora o upravljanju slivovima zajedničkih rijeka, i o izgradnji hidroelektrana na teritoriji Crne Gore i susjednih zemalja. U Crnoj Gori se već realizuju, ili će uskoro početi, veliki kapitalni projekti koji obogaćuju turističku ponudu (Porto Montenegro, Luštica, Kumbor, Kraljičina plaža, Plavi horizonti ). Takođe, i projekti koji će povećati energetsku proizvodnju (TE Pljevlja II, vjetroelektrane, male i velike hidrocentrale ). Obnavlja se interesovanje za gradnju većih hidroelektrana na Morači i Komarnici. Nedavno je otvoren novi Regent hotel u Tivtu, jedan od dva iz tog lanca u Evropi. Crna Gora ulazi u vrlo intenzivan investicioni ciklus. Kuriozitet je da se u našoj zemlji danas realizuju, ili će uskoro početi, najveći investicioni projekti u oblasti turizma i putne infrastrukture u Evropi. Važnost malog i srednjeg biznisa za razvoj, i posebno za zapošljavanje, visoko je na agendi Vladine politike. Posebnu pažnju posvećujemo biznis zonama, u kojima važe posebne pogodnosti za investitore. Za Crnu Goru nema malih investitora. Svakome ko je, prije svega na sjeveru, spreman da investira zdrav kapital u projekte metalne industrije, drvoprerade, proizvodnje hrane, ili u bilo kojoj drugoj oblasti, i da zaposli određeni broj ljudi, Vlada je spremna na svaki način da izađe u susret. Crna Gora ostaje lider u ekonomskim reformama i procesima integracija. Stabilno je na putu ka EU i NATO. Te procese vidimo kao okvir za sprovođenje reformi. A reforme kao put u modernizaciju društva i viši kvalitet života. Očekujemo da ćemo do kraja godine otvoriti nova poglavlja u pregovorima za članstvo u EU, među kojima su finansijska i ekonomska. To će dodatno unaprijediti poslovni ambijent za investicije i podstaći bolje finansijske veze sa tržištem EU, kao i primjenu standarda po kojima posluju evropska preduzeća. Projektovani dinamični razvoj Crna Gora bazira na energetici, turizmu i proizvodnji hrane. U ovim sektorima možemo dati najveći doprinos regionalnoj i evropskoj ekonomiji, i zato tražimo ruku partnerstva u zemljama EU. Interes svih naših zemalja na Balkanu je da budemo dostupniji, čvršće i bolje međusobno povezani, i trgovinski, i infrastrukturno. Svima nam trebaju razvojni, a ne nacionalni projekti, koji su nas često usporavali kroz istoriju. Ohrabruje predlog EK o novom načinu funkcionisanja Zapadno-balkanskog investicionog okvira, kojim se predviđa višestruko uvećanje raspoloživih bespovratnih sredstava EU. Zajedno sa kreditnim sredstvima koja se očekuju od međunarodnih finansijskih institucija, prije svega EIB i EBRD, ovo može biti konkretna efikasna podrška infrastrukturnim projektima na nacionalnom i regionalnom nivou. for the achievement of this goal. The realization of this project would significantly contribute to the competitiveness of business, especially in the industry sector, but also to the quality of life of each household. The highway and railroad from the port of Bar to Belgrade, via Budapest... These are the projects of major significance for Montenegro, when it comes to more even regional development and connection with Serbia, Central Europe and Europe as a whole. We expect to start soon the construction of the first segment of the highway 42 km, which will be undertaken in cooperation with the interested Chinese companies. These segments can certainly make Montenegro and the region far more attractive through an improved use of port capacities and connections with the maritime transport lines. The construction of the undersea cable in cooperation with the Italian partner TERNA. This interconnection will network the EU and Balkan energy systems with the technologically most up-to-date link. Its construction will position not only Montenegro, but also the region as a whole, as an important energy hub. This will contribute to the valorization of our country s and regional energy potentials and enable a more stable access to the European energy market. Montenegro is interested in renewing negotiations with the neighboring countries to reach an agreement on the joint river basin management and the construction of hydro power plants on the teritorry of Montenegro and the neighboring countries. Capital projects which diversify Montenegrin tourism offer have already been realized in Montenegro (Porto Montenegro, Lustica, Kumbor, Kraljicina plaza, Plavi horizonti ). There are also projects which will increase the production of energy (thermo energy plant Pljevlja II, wind power plant, small and big hydro power plants ). There has been a renewed interest in the construction of bigger hydro power plants on the Moraca and the Komarnica. A new Regent Hotel has been opened recently in Tivat. It is one of the two hotels of this chain in Europe. Montenegro is entering a very intensive investment cycle. It is interesting that today we have ongoing or upcoming biggest investment projects in the area of tourism and road infrastructure in Europe. The significance of small and medium sized business for the development and for new jobs in particular, is high on the Government policy agenda. We pay special attention to business zones which offer special incentives for investors. There are no small investors for Montenegro. The Government is ready to meet the requirements of all those who are ready to invest healthy capital in the metal industry, wood processing, food processing or any other industry, especially in the north, and who will thus create new jobs. Montenegro remains the leader in the economic reforms and EU integrations. Its road to the EU and NATO is stable. We see those processes as a framework for reforms. We understand reforms as the road to the modernization of society and better quality of life. By the end of the year, we expect to open new chapters in the negotiations for the EU membership, including financial and 32 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

33 CONFERENCE PROCEEDINGS Dame i gospodo, Ova Konferencija je značajna i kao regionalna prilika da održimo svježom inicijativu iz Berlina s našim njemačkim partnerima. Ohrabruje činjenica da njemačka privreda postaje sve značajniji trgovinski i investicioni partner regiona. Ponovno okupljanje ministara ekonomije u Crnoj Gori šansa je da konkretizujemo priču o projektima od zajedničkog interesa, i regionalnim prioritetima. Time ćemo našim partnerima iz Evrope olakšati da nam pomognu u realizaciji. Stabilan i prosperitetan Balkan interes je svih naših zemalja i naroda, ali i cijele Evrope. Za preduzetnike iz regiona učešće predstavnika njemačkog privrednog sektora na ovoj Konferenciji predstavlja i odličnu priliku za uspostavljanje direktnih kontakata. Crna Gora je zainteresovana za investicije iz Njemačke i radi prenošenja know how i dobre prakse poslovanja. Ovo je prilika i da zahvalimo Njemačkoj razvojnoj banci (KfW), koja je od kraja do sada uložila 340 miliona eura u projekte komunalne infrastrukture, energetike i bankarstva u Crnoj Gori. Takođe, značajnu pomoć od oko 35 mil. eura, u raznim oblastima, pružio nam je Njemački razvojni fond (GtZ) od do Na kraju, želim još jednom da zahvalim Privrednoj komori Crne Gore, kao i Istočnom odboru njemačke privrede na organizaciji ovog skupa. I da ih ohrabrim da već od sjutra krenu sa pripremom novog susreta iduće godine u Crnoj Gori. Vlada će nastaviti da pruža podršku ovom važnom zajedničkom poslu. Još jednom vas sve srdačno pozdravljam i želim uspješan rad. Zahvaljujem na pažnji! economic issues. This will additionally improve the business climate for investments and instigate improved financial relations with the EU market, as well as the implementation of the standards followed by the European enterprises. The calculated dynamic development of Montenego is based on the energy sector, tourism and food processing. These are the sectors where we can provide the biggest contribution to the regional and European economy and that is why we are searching for partners in the EU countries. The interest of all our countries in the Balkans is to be accessible and better inter-connected, both in terms of trade and infrastructure. We all need development rather than national projects, which often slowed us down in the course of history. The EC proposal on the new way of functioning of the Western Balkans Investment Framework is encouraging as it plans a multiple increase of the available EU grants. Together with the loans expected from international financial institutions, primarily EIB and EBRD, this may be a concrete efficient support to infrastructure projects on the national and regional level. Ladies and gentlemen, This conference is also important as it is a regional opportunity to maintain the fresh initiative from Berlin with our German partners. The fact that German economy has been a more important trade and investment partner of the region is encouraging. The reunion of the ministers of economy in Montenegro is a chance to make more concrete agreements on the projects of joint interest and regional priorities. This way we will make the job easier for our partners from Europe to help us in their realization. A stable and prosperous Balkans is in the interest of all countries and peoples but also of the entire Europe. For the entrepreneurs from the region the participation of the representatives of the German economic sector at this conference is an excellent opportunity for the establishment of direct contacts. Montenegro is interested in the investments from Germany also because it needs the transfer of know how and good business practices. This is an opportunity to express our gratitude to the German Development Bank (KfW), which has invested 340 million EUR since 2001 in the public utility infrastructure, energy and banking in Montenegro. In addition, we have received a significant assistance of cca 35 million EUR from the German Development Fund (GtZ) in various branches of industry. In the end I would once again like to thank the Chamber of Economy of Montenegro and the German Committee on Eastern European Economic Relations, for the organization of this event. I would like to support them to continue with the prepation of a new meeting in Montenegro next year. The Government of Montenegro will continue to provide support to this important joint task. I greet you once again and I wish you a successful work. Thank you for your attention! Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 33

34 ZBORNIK KONFERENCIJE 34 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

35 CONFERENCE PROCEEDINGS Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 35

36 ZBORNIK KONFERENCIJE Panel: SARADNJOM DO PROSPERITETA IZAZOVI REGIONALNE SARADNJE ZA ZEMLJE JUGOISTOČNE EVROPE NA PUTU EVROPSKIH INTEGRACIJA Moderator: Rainer Lindner Izvršni direktor, Istočni odbor njemačke privrede Panelisti: Vladimir Kavarić Ivan Vrdoljak Željko Sertić Bekim Neziri Dragan Milović Sabina Koleša Fadil Ismaili Ministar ekonomije, Vlada Crne Gore Ministar privrede, Vlada Republike Hrvatske Ministar privrede, Vlada Republike Srbije Ministar ekonomije, Vlada BJR Makedonije Pomoćnik ministra spoljne trgovine i ekonomskih odnosa, Savjet ministara Bosne i Hercegovine Generalna direktorica Direktorata za preduzetništvo, konkurentnost i tehnologiju, Ministarstvo privrednog razvoja i tehnologije, Vlada Republike Slovenije Ministar privrednog razvoja, Vlada Republike Kosova* Arben Ahmetaj Ministar ekonomskog razvoja, trgovine i preduzetništva, Vlada Albanije * Ovaj naziv ne utiče na stav o statusu i u skladu je sa UNSB 1244 i mišljenjem MSP o kosovskoj deklaraciji nezavisnosti 36 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

37 CONFERENCE PROCEEDINGS Panel: PROSPERITY THROUGH COOPERATION CHALLENGES FOR REGIONAL COOPERATION FOR THE COUNTRIES OF SEE ON THEIR WAY TO THE EU INTEGRATION Moderation: Rainer Lindner Executive Director, Committee on Eastern European Economic Relations Panelists: Vladimir Kavaric Ivan Vrdoljak Zeljko Sertic Bekim Neziri Dragan Milovic Sabina Kolesa Fadil Ismaili Minister of Economy, Government of Montenegro Minister of Economy, Government of the Republic of Croatia Minister of Economy, Government of the Republic of Serbia Minister of Economy, Government of the FYR Macedonia Assistance Minister of Foreign Trade and Economic Relations, Council of Ministers of Bosnia and Herzegovina General Director, Directorate for Enterprise and Competitiveness, Ministry of Economic Development and Technology, Government of the Republic of Slovenia Minister of Economic Development, Government of the Republic of Kosovo* Arben Ahmetaj Minister of Economic Development, Trade and Entrepreneurship, Government of Albania * This name does not affect the position of status in accordance with UNSC 1244 and the ICJ Opinion on the Kosovo declaration of independence Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 37

38 ZBORNIK KONFERENCIJE Rainer Lindner, izvršni direktor Istočnog odbora njemačke privrede modetirao je panelom Saradnjom do prosperiteta Izazovi regionalne saradnje za zemlje Jugoistočne Evrope na putu evropskih integracija u kojem su učestvovali ministri zemalja Zapadnog Balkana. Otvarajaći Panel naglasio je: Tokom današnjih diskusija trebalo bi raspravljati o tome kako unaprijediti obrazovni sistem, kako znanje sa univerziteta prilagoditi potrebama industrije, odnosno kako napraviti integrisanu industriju povezanu sa digitalnom ekonomijom, što je izazov za njemačke firme kada dolaze u ovaj region. Naime, njemačke kompanije dolaze ovdje sa najnovijom tehnologijom i ne žele da koriste stare. Zbog toga i vi morate da se pozabavite integrisanom industrijom, koju Njemci zovu Industrija 4.0. Veoma je važno da razgovaramo i o potencijalima za mala i srednja preduzeća. U Njemačkoj nema malog preduzeća koje ne bi moglo da bude prisutno ovdje u region, u Crnoj Gori. Devedesetpet odsto preduzeća u Njemačkoj su mala i srednja, a oni su skriveni šampioni koji mogu da budu jako korisni za region zapadnog Balkana. Takođe bi trebalo govoriti o problemu finansiranja koji je od ključnog značaja ne samo za mala i srednja preduzeća, već i industriju u cjelini. Bez sigurnog okvira za investiranje i klime neće biti pravih ulaganja. Potrebno je govoriti i o izazovima energetske efikasnosti, obnovljivim ali i o tradicionalnim izvorima energije, pošto je ovom regionu potreban gasovod. Ivan Vrdoljak, ministar privrede Republike Hrvatske: Saradnja i dijalog, solidarnost i međusobno uvažavanje, zajednička težnja ka prosperitetu svih zemalja u Jugoistočnoj Europi jednostavno nemaju alternativu. Da bismo to doista i ostvarili postoji jedan osnovni preduslov, a to je da sve naše nacionalne strategije razvoja budu usklađene i uklopljene u regionalne strategije razvoja. Bez tog sklada i saradnje, puno teže ćemo ostvariti svoje ciljeve. Budući da je ekonomija glavna poluga društvenog razvoja koja donosi političku stabilnost, potrebna nam je konkurentna privreda zasnovana na stabilnim, sigurnim i cjenovno prihvatljivim izvorima energije. Svi smo svjedoci, kako iz vlastitih iskustava, tako i iz iskustava cijele Evrope, da se ekonomija posljednjih godina muči sa skromnim pokazateljima rasta. I evropska energetska politika u prošlosti imala je utiecaja na takvo stanje. Međutim, Evropa je shvatila važnost diverzifikacije dobavnih pravaca energije i njihov uticaj na energetsku, ekonomsku i političku stabilnost. Spomenuta diverzifikacija je svima u interesu i proizvođačima, i saobraćajnim sistemima, i trgovcima, i na kraju potrošačima. To je u interesu i svim evropskim zemljama jer će razvoj energetske infrastrukture ujedno ojačati i međusobnu saradnju zemalja članica Evropske Unije, ali i onih zemalja koje imaju ambiciju i perspektivu to postati, a to se prvenstveno odnosi na zemlje Jugoistočne Europe. Podsjetit ću Vas da je Energetska zajednica osnovana Sporazumom o energetskoj zajednici godine kako bi zemlje Zapadnog Balkana integrirala u EU energetski sustav. U Rainer Lindner, Executive Manager of the Committee on Eastern European Economic Relations, was the moderator of the panel From Cooperation to Prosperity Challenges of Regional Cooperation for the Countries of South-East Europe on Their Road to the EU which was attended by the ministers of the Western Balkan countries. Opening the panel, he has emphasized: At today s discussions we should debate how to improve the education system, how to adapt the knowledge obtained at the university to the needs of the industry, i.e. how to make an integrated industry linked with digital economy, as this is a challenge for the German companies which come to this region. Namely, German companies come here with the latest technology and they do not want to use the old one. That is why you too have to deal with the integrated industry, called by the German Industry 4.0. It is very important that we also discuss the potentials for small and medium sized enterprises. There is no small enterprise in Germany which could not be present here in the region, in Montenegro. Ninety-five per cent of German enterprises are small and medium sized enterprises and they are hidden champions which can be highly useful for the Western Balkan region. We should also talk about the problem of financing which is of key importance not only for small and medium sized enterprises but for the entire industry. Without a safe investment framework and climate, there will be no real investments. We also need to talk about the challenges related to energy efficiency, renewable and traditional sources of energy, given the fact that this region needs a pipeline. Ivan Vrdoljak, Minister of Economy of the Republic of Croatia: the cooperation and dialogue, solidarity and mutual respect, joint aspiration to prosperity of all South-East European countries simply have no alternative. In order to achieve this, there is one basic precondition all our national strategies of development need to be harmonized and incorporated in the regional strategies of development. Without this harmony, it will be much more difficult to achieve our objectives. Given the fact that economy is the main driver of social development which brings political stability, we need a competitive economy based on stable, safe and acceptable sources of energy in terms of prices. We are all witnesses, both from our experiences and the experiences from the whole Europe, that in the recent years the economy has faced modest growth indicators. The European energy policy also played a certain role in this. However, Europe has realized the significance of diversification of the energy supply channels and their impact on the energy, economic and political stability. The said diversification is for the benefit of everyone the producers, transport systems, traders and, finally, consumers. It is in the interest of all European countries because the development of the energy infrastructure will at the same time strengthen the mutual cooperation of the EU members but also of these countries which have an ambition and perspective to become the EU members, and this primarily re- 38 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

39 CONFERENCE PROCEEDINGS međuvremenu se proširila na Moldaviju i Ukrajinu, a u toku su pregovori o pristupanju Gruzije. To širenje postavilo je velike izazove pred Energetsku zajednicu vezano za potrebu konsolidacije uz istovremeno nastavljanje širenja. Energetska zajednica ima za cilj kreiranje stabilnog i jedinstvenog regulatornog okvira i tržišnog prostora koji osigurava pouzdano snabdijevanje energentima i može privući investicije u sektore električne energije i prirodnog gasa. U okviru Energetske zajednice, glavni projekt za Republiku Hrvatsku je Jonsko-jadranski gasovod (IAP) na kojem radimo zajedno sa Albanijom, Crnom Gorom i Bosnom i Hercegovinom. Hrvatska je svjesna vlastitog potencijala da postane regionalno energetsko čvorište i jedno od sidrišta evropske energetske sigurnosti, ali i svog zadatka i odgovornosti da osigura nove energente za Jugoistočnu Europu, a po potrebi i za šire evropsko okruženje. Za takvo savladavanje energetskih izazova potrebna su jaka partnerstva, saradnja i solidarnost među državama. Želio bih zato istaći tri hrvatska projekta koji će doprinijeti diverzifikaciji snabdijevanja energijom u srednjoj i jugoistočnoj Europi, a koji svjedoče da je Republika Hrvatska u osmišljavanju vlastite energetske strategije razvoja itekako vodila računa da njena strategija bude usklađena i uklopljena u regionalnu energetsku strategiju. Prvo, to je Jadransko-jonski gasovod (IAP) koji će preko Albanije, Crne Gore, te Bosne i Hercegovine povezati hrvatski gasno-transportni sistem sa Trans-jadranskim plinovodom (TAP-om). Dok će Jadransko-jonski gasovod snabdijevati zemlje na jugoistoku Evrope, istovremeno će pružati sigurnost i zemljama srednje Evrope. Drugi projekt je LNG terminal na Krku koji će biti dodatni izvor prirodnog gasa za hrvatsko tržište, ali i tačka za distribuciju prirodnog gasa na okolna tržišta uključujući, između ostalih, Italiju, Austriju, Mađarsku, Poljsku, Rumunjsku i Sloveniju. Treće, Hrvatska je krenula s procesom istraživanja i eksploatacije ugljovodonika u Jadranskom moru. Procjena je da se radi o investicijama ukupne vrijednosti od oko 2,5 milijarde dolara. Članstvo u EU Hrvatskoj omogućava i pravo učešća u kreiranju energetske politike Unije. Zahvaljujući tome, dva od ta tri projekta, Jadransko-jonski gasovod i LNG na Krku, su već navedeni među ključnim energetskim infrastrukturnim projektima Evropske unije, tzv. projektima od zajedničkog interesa (Projects of Common Interest), za koje ćemo tražiti finansiranje iz evropskih finansijskih fondova. Kao Evropska unija je već donijela odluku o finansiranju studije izvodljivosti i izradi projektne dokumentacije za LNG terminal na Krku u iznosu od 50 posto, što je maksimalni iznos s kojim EU može učestvovati u ovoj fazi projekta. Međutim, očekujemo da će Evropska komisija nepovratnim sredstvima pomoći i samu izgradnju s maksimalnih 50 posto. Hrvatska je uvjerena da će svi spomenuti projekti imati višestruke pozitivne učinke na regionalnu saradnju, kao i na fers to the South-East European countries. I will remind you that the Energy Community was established by the Energy Community Treaty in 2006 so that the Western Balkan countries could be integrated in the EU energy system. In the meantime it was extended to Moldova and Ukraine, while the negotiations on the accession of Georgia are ongoing. This extension has set great challenges before the Energy Community related to the need for consolidation with the concurrent continuation of extension. The Energy Community aims at the creation of a stable and unique regulatory framework and market space which secure reliable supply of energy-generating products and which may attract investments in the electricity sector and natural gas. Within the Energy Community framework, the main project for the Republic of Croatia is the Ionian Adriatic Pipeline (IAP) which is constructed together with Albania, Montenegro and Bosnia and Herzegovina. Croatia is aware of its potential to become the regional energy hub and one of the anchors of European energy safety but also of its task and responsibility to secure new energy-generating products for South-East Europe and, if needed, for wider European environment. Meeting energy related challenges requires strong partnerships, cooperation and solidarity among states. Therefore, I would like to emphasize three Croatian projects which will contribute to the diversification of energy supply in Central and South-East Europe and which testify that, in the creation of its energy strategy, the Republic of Croatia paid a lot of attention that its strategy should be harmonized and incorporated into the regional energy strategy. Firstly, it is the Ionian Adriatic Pipeline (IAP), which will pass through Albania, Montenegro and Bosnia and Herzegovina and connect Croatian gas-transport system with the trans-adriatic pipeline (TAP). On the other hand, the Ionian Adriatic Pipeline will supply the courtiers of South-East Europe and concurrently provide security to the Central European countries. Secondly, it is the project LNG terminal on the island Krk, which will be an additional source of natural gas for the Croatian market but also the distribution point for neighboring markets, including: Italy, Austria, Hungary, Poland, Romania and Slovenia. Thirdly, Croatia has started with the process of research and exploitation of hydrocarbon in the Adriatic sea. This investment has been estimated at cca 2.5 billion USD. Its membership in the EU entitles Croatia to participate in the creation of the EU energy policy. Thanks to it, two of three projects, the Ionian Adriatic Pipeline and the LNG on Krk, have already been included in the EU list of key energy infrastructure projects, the so-called Projects of Common Interest, for which we will request finances from the EU financial funds. The EU has already made the decision to provide 50% Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 39

40 ZBORNIK KONFERENCIJE razvoj svih zemalja Jugoistočne Europe, pa zato smatramo važnim podržati zemlje regije u ispunjavanju obveza preuzetih u okviru Energetske zajednice, a to se prvenstveno odnosi na implementaciju zakonodavstva. To je preduslov za značajne investicije u energetici, kao što je izgradnja novih interkonektora u gasnom i elektroenergetskom sistemu, te regionalnog gasovoda IAP. Na bazi sopstvenog iskustva, smatramo da jačanje veza između Unije i Energetske zajednice može osnažiti želje zemalja članica Energetske zajednice da budu aktivne u sprovođenju energetske politike saglasno pravilima EU, odnosno da će to jačanje veza i saradnja na načelima poštivanja pravne tekovine EU kao sjutrašnjeg zajedničkog doma svih zemalja Jugoistočne Europe biti jedan od kamena temeljaca za buduće proširenje Evropske Unije. Arben Ahmetaj, ministar ekonomskog razvoja, trgovine i preduzetništva Albanije je predložio da države regiona formiraju radnu grupu koja će utvrditi listu 10 pilot projekata od zajedničkog interesa, konferencije u Budvi. Sastanak radne grupe, kako je najavljeno, trebalo bi da bude održan uskoro u Berlinu, jer, kako je rekao: smatram da zemlje zapadnog Balkana više nemaju izgovora za neuspostavljanje saradnje. Siguran sam da ste svi putovali po Balkanu. Putevi su nam široki u unutrašnjosti zemalja, ali se pri granici sužavaju. Takvi smo mi ovdje u regionu. Još uzimamo u obzir granice, a došlo je vrijeme da se one posmatraju samo u kontekstu prekogranične saradnje. Smatram da je ovaj region malo i nedovoljno razvijeno tržište. Za svakog investitora Balkan može da bude romantično, egzotično mjesto, ali ne i magnet za privlačenje investicija, zato što ga u cjelini ne smatraju bezbjednim. Poslovna klima nije postala potpuno business friendly, zato što još nemamo razvijene tržišne institucije koje bi podržale strane direktne investicije. Strana ulaganja su uglavnom u energetiku, dijelom proizvodnju, industriju, ali ne još uvijek u okvirima koje mi navodimo da su potrebni za ekonomski razvoj. Znači, mali smo region i ako ne budemo razmišljali na regionalnom nivou ostaćemo sa neravnomjernim razvojem i nikada nećemo postići uspjeh na globalnom tržištu. Ranije sam predložio da formiramo instrument koji će se nadovezati na diskusije u Berlinu. Naše konferencije nijesu pratila naknadna djelovanja. Priča o regionalnoj saradnji je lijepa retorika koja treba da bude podržana regionalnim projektima. Plavi autoput, odnosno Jadransko jonski veoma je važan za ovaj region jer nas fizički povezuje, a bez ove vrste infrastrukture nikada nas neće smatrati živim, energičnim tržištem. Postoji i jak interes za obnovu pruge Bar Beograd sa ograncima prema Draču i Tirani, što bi nas uključilo u tržište EU i omogućilo našim lukama da postanu čvorišta. Sa takvim vezama imaćemo više turista. Značajan je i projekat veze Beograd Niš - Priština ili do Skoplja. Ova Konferencija mora da bude iskorak kako bismo ostvarili fokus na projekte od značaja i postali svjesni da ćemo bez saradnje izgledati nedovoljno zrelo pred potencijalnim finansijerima i građanima. Sada više neof the total finances required for feasibility studies and the project documentation for LNG terminal on Krk, which is the maximum amount that the EU can allocate at this phase of the project. However, we expect that the European Commission will also help at the construction phase with the allocation of the grant, amounting at the maximum 50%. Croatia is aware that all the above mentioned projects will have multiple positive effects on the regional cooperation, as well as on the development of all South-East European countries. Therefore, we think that it is important to support the regional countries to fulfill their obligations pertaining to the Energy Community, primarily the implementation of legislation. This is the precondition for significant investments in energy, such as the construction of new inter-connectors in the gas and electricity system and the regional pipeline IAP. Based on our experience, we believe that strengthening of the ties between the Union and the Energy Community may encourage the members of the Energy Community to be active in the implementation of energy policy in line with the EU rules, i.e. that the strengthening of the ties and cooperation following the EU acquis communitaire, as the future home for all countries of South-East Europe, would be one of the stepping stones for future extension of the European Union. Arben Ahmetaj, the Minister of Economic Development, Trade and Entrepreneurship of Albania, has proposed that the regional countries should establish a working group which would define the list of 10 pilot projects of joint interest. As announced, the meeting of the working group should be held soon in Berlin as, like he said: I think that the Western Balkan countries have no more excuses for non-cooperation. I am sure that all of you have travelled around the Balkans. Our roads are wide inland but they narrow down as we approach borders. This is what we in the region are like. We still think of borders while the time has come when they should be seen only in the context of cross-border cooperation. I think that this region is a small and inadequately developed market. It can be a romantic, exotic place for investors but not a magnet for the attraction of investments because they do not see it as a safe place. The business climate is not fully business friendly because we still lack developed market institutions which would support foreign direct investments. Most foreign investments are in energy, partly production, industry but still not in the volume which we consider necessary for economic development. This means that we are a small region and if we do not think regionally, we will never achieve success on the global market. I proposed earlier to establish an instrument which would follow-up the discussions in Berlin. Our conferences have never had any follow-up activities. The talk about the regional cooperation is a nice rhetoric which should be supported by regional projects. The Blue Highway, i.e. Adriatic Ionian highway, is very important for this region because it connects us physically and without this infrastructure they will never consider us as an alive, energetic market. There is a strong interest for the re- 40 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

41 CONFERENCE PROCEEDINGS mamo izgovore, jer zahvaljujući naporima ka EU nemamo konflikata. Ako nešto ne učinimo, sve će biti isto i nećemo zaslužiti da nam investitori ukažu povjerenje. Vladimir Kavarić, ministar ekonomije Crne Gore: Govoreći o konkretnim regionalnim projektima, postoji razlog za optimizam, jer možemo svakodnevno komunicirati o njima na nivou pet vlada. Svi smo veoma entuzijastični jer smo spremni da ovdje govorimo o tehničkim aspektima nastavka saradnje i što možemo da izgrađujemo tradiciju ovakvih skupova. Sve naše zemlje treba da razmišljaju o partnerstvu za borbu na globalnom tržištu. Regionalni pristup potrebno je zasnovati na pravilima slobodne trgovine i jačanja infrastrukture te poštovanja vladavine prava. Značajan je nedostatak infrastrukture u regionu. Oduševljeni smo predlogom ministra Ahmetaja o formiranju radne grupe koja bi trebalo da odredi prioritete među regionalnim projektima i da ih prenese u dokument sa biznis modelima i finansijskim šemama koji bi bili kandidovani ka našim partnerima iz EU i finansijskih institucija. Željko Sertić: Mi ovdje možemo da pričamo o mnogo stvari koje treba da radimo na regionalnom nivou. Ali, pored tog regionalnog okvira koji se bazira na infrastrukturnim planovima, moramo da radimo projekte u oblasti turizma, jer ćemo bez njih teško motivisati goste sa dalekih tržišta da provedu na našim prostorima duže od par dana, odnosno biti konkurenti i zanimljivi. Još važnije od toga je šta svaka od naših zemalja radi da bi privukla strane investitore i kako da proširimo naša partnerstva. U ekonomiji je činjenica da su za povećanje prosječnih plata potrebne investicije u dvostrukom iznosu BDP-a. Znači, to su ogromne pare i postavlja se pitanje šta je to što nudimo stranim investitorima da bismo ih privukli. Veliki biznis danas traži najbolje uslove. Cijeli svijet je tržište. Zemlje koje su do juče bile potpuno zatvorene danas su ekonomski divovi jer su napravile efikasne državne uprave i reformisali sve ono što je bilo potrebno da se uradi. Što se Srbije tiče, mislim da u posljednjih nekoliko mjeseci nikada nije postojala veća volja, ne samo politička, nego i spremnost građana za ozbiljne promjene. Mi to radimo zbog nas samih, a ne zato što to Brisel traži od nas. Bez promjene našeg načina rada, promjene u javnoj upravi i rješavanja problema javnih preduzeća, poslovnog ambijenta i sistema obrazovanja, nema priliva dobrih i kvalitetnih stranih investicija. Puno se ovih dana govori o fiskalnoj konsolidaciji u Srbiji. Nju sprovodimo, opet naglašavam zbog nas samih, a ne zato što MMF to traži. Jer ako imate veliki deficit, povjerenje stranih banaka je prema vama malo, pa zbog većih rizika rastu kamate. Ne možete da napravite dobar biznis sa velikim kamatama. Zato je potrebno mnogo toga uraditi da bi se stvorio dobar ambijent za poslovanje. Vlada Srbije je riješila da uđe u ozbiljnu borbu protiv svih onih negativnih stvari iz prošlosti. Donijeli smo posljednjih mjeseci nekoliko kapitalnih zakona, još nekoliko je u pripremi, sva društvena preduzeća su pred privatizacijom. construction of the railway Bar Belgrade with the sections towards Durres and Tirana, which would join us to the EU market and make our ports important hubs. Thus connected we will have more tourists. Another important project is the connection Belgrade Nis Pristina or up to Skopje. This conference should be a step forward which would focus on important projects and raise awareness of the fact that without cooperation we will look immature before potential investors and citizens. We now have no more excuses because, thanks to the EU efforts, we have no more conflicts. If we do not take any steps, everything will remain the same and we will not deserve the investors trust. Vladimir Kavaric, Minister of Economy of Montenegro: Speaking of concrete regional projects, there is a reason for optimism because it is possible to organize daily communication among five governments. We are all very enthusiastic because we are ready to speak here on the technical aspects of our continued cooperation and we can build the tradition of this kind of meetings. All our countries need to think about partnership in the joint battle on the global market. Regional approach needs to be based on the free trade principles and strengthening of the infrastructure in the region. We are delighted by the proposal of Minister Ahmetaj on the establishment of a working group which should set priorities among regional projects and incorporate them in the document with business models and financial schemes which would be nominated before the EU and financial institutions. Zeljko Sertic: We can talk about many things which we should do on the regional level. However, apart from this regional framework which is based on infrastructure plans, we have to do projects related to tourism because without them we will hardly motivate guests from far away markets to spend more than just a few days in our region. In other words, we will hardly be competitive and interesting. What is even more important, each of our countries should do its best to attract foreign investors and extend our partnerships It is a fact in the economy that the increase of average salaries requires investments which would be twice as big as the GDP. This is a lot of money and we need to think hard what we offer to foreign investors to attract them. Big business today requires the best conditions. The whole world is a market. The countries which had been closed until recently have become economic giants because they have established efficient public administration and introduced reforms wherever necessary. As far as Serbia is concerned, I think that in the recent months we have expressed a strong will, not only the politicians but citizens, as well, for serious changes. We are doing it for ourselves, not because Brussels requires it from us. Without the changes of our way of work, as well as the changes in public administration and the solution of problems pertaining to public enterprises, business climate and education system, there are no good quality foreign investments. We have been talking a lot about fiscal consolidation in Serbia. I repeat, we Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 41

42 ZBORNIK KONFERENCIJE Pitanje investicija je pitanje opstanka naših ekonomija. Hoćemo da sarađujemo, ali pri tome svako mora da bude aktivan u svojoj kući. Ako ekonomski ne možemo da podignemo naše zemlje, ništa nam drugo ne vredi. Ni socijalna politika ne može biti dovoljno dobra, niti kultura, ni naša istorija. Bekim Neziri, ministar ekonomije Makedonije: Nadam se da ćemo na kraju Konferencije zajednički donijeti odluku da kreiramo strategiju za uspješnu ekonomiju regiona. Stanje u Makedoniji je sljedeće. Vlada Makedonija je prije dvije godine počela projekat ekonomskih zona. Podjelili smo zemlju na 11 regiju i odlučili da uspostavimo isto toliko slobodnih zona. Do sada smo definisali samo devet i nadam se da ćemo do kraja godine uspjeti da dovršimo ovaj projekat. Koje smo rezultate postigli ovim zonama? Povećali smo izvoz iz tih zona za 30 odsto, odnosno za 800 miliona eura godišnje, što su dobri rezultati na koje smo ponosni. Šta smo ponudili investitorima? Promijenili smo pojedine zakone i sada investitori plaćaju nulti porez na profit tokom deset godina, a isto važi i za poreze na lični dohodak i PDV. Obezbijedili smo konekciju ovih zona sa aerodromima i glavnim putnim koridorima. Tokom ove dvije godine suočili smo se sa nekim problemima, mahom infrastrukturnim. Imamo problem sa koridorom osam, koji povezuje Bugarsku i Kosovo, kao i sa koridorom 10 koji spaja Albaniju, Grčku i Srbiju. Trgovinska razmjena između Makedonije i Kosova takođe opada prošle godine je opala za 10 odsto i izgubili smo oko 13 miliona eura. Zbog toga je naš prioritet gradnja autoputa Skoplje-Blace. Fadil Ismaili, ministar razvoja Kosova: Na ovoj Konferenciji osjećam jako pozitivnu energiju kada je u pitanju regionalna saradnja. Kosovo je najmlađa država i tokom posljednjih 15 godina smo prolazili kroz različite izazove. Uspjeli smo da ostvarimo veliki korak u regionalnoj saradnji, najprije aprilskim sporazumom između Srbije i Kosova, što je jedan od najznačajnijih poteza za razvoj obije zemlje. Na ovoj Koferenciji uglavnom govorimo o fizičkoj infrastrukturi što i jeste jedno od najznačajnijih pitanja regionalne saradnje. Moramo, međutim, imati u vidu da je riječ o kapitalnim investicijama sa niskom stopom povrata i velikom opterećenju za građane u državama koje imaju nizak BDP. Da - putevi, da - pruge, da - prenosni sistemi, jer bez njih ne možemo imati adekvatno tržište, ali paralelno sa tim treba da radimo na IT infrastrukturi i obrazovnom sistemu, malim i srednjim preduzećima jer je to najvažnije. Otvoreni smo ka Evropi, ali se nadamo i dvosmjernoj razmjeni robe sa njenim razvijenim zemljama. Prilično sam siguran da njemačka Vlada sve više pokazuje interesovanje za zapadani Balkan i razmatra stimulativne mjere kako da investitori dođu u region. Moramo dodatno raditi na vladavini prava i borbi protiv korupcije, ali nam je potrebno više pouzdanog kapitala, novca koji nije skup kao što je bio do sada. Dolazimo do konsenzusa da je potrebno da uslovi finansiranja budu bolji. Zemlje regiona su u različitim položajima. Kosovo nije ostvaare doing it for ourselves, not because of the IMF requirements, because if you have a big deficit, the trust of foreign banks is not great. Consequently, due to higher risks, the interest rates rise, too. You cannot make a good business with big interest rates. That is why a lot is needed to create a good business climate. The Government of Serbia has decided to start a serious fight against all those negative things from the past. Recently, we have adopted several capital laws. In addition, there are several laws in the preparation phase while all public enterprises are ready for privatization. The investment issue is directly related to the survival of our economies. We want to cooperate but then again everyone needs to be active in its own house. If we cannot raise our countries economically, then other things will not function either. Our social policy, culture, history none of them will be good enough. Bekim Neziri, the Minister of Economy of Macedonia: I hope that at the end of the conference we will make a joint decision to create the strategy for a successful economy of the region. The situation in Macedonia is as follows. Two years ago, the Government of Macedonia started the project of economic zones. We divided the country into 11 regions and decided to establish as many free zones. So far we have defined only 9 and I hope that we will finish this project by the end of the year. What results have we achieved with these zones? We have increased export from these zones for 30%, i.e. for 800 million EUR annually, and we are proud of these results. What did we offer to the investors? We have changed certain laws and now the investors pay zero profit tax, personal income tax and VAT for the period of ten years. We have provided the connection of these zones with the airports and main road corridors. During the period of these two years, we have encountered certain problems, mainly referring to the infrastructure. We have a problem with the corridor 8, which connects Bulgaria and Kosovo, as well as with the corridor 10, which connects Albania, Greece and Serbia. The trade between Macedonia and Kosovo has also recorded a decline last year it fell for 10% and we lost cca 13 million EUR. That is why the construction of the highway Skopje - Blace is our priority. Fadil Ismaili, Minister of Economic Development of Kosovo: At this conference I feel very positive energy regarding regional cooperation. Kosovo is the youngest state and during the last 15 years we encountered different challenges. We managed to make a big step in regional cooperation, primarily with the April agreement between Serbia and Kosovo, which is one of the most important moves for the development of both countries. At this conference we mostly speak of physical infrastructure, which is one of the most important issues of regional cooperation. However, we have to bear in mind that these are capital investments with a low return rate and a big burden for citizens in the states with low GDP. Roads yes, railways yes, transmission systems yes, because without them we 42 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

43 CONFERENCE PROCEEDINGS rilo previše benefita od CEFTA-e, jer je mahom uvozilo iz ove regije. Imamo komparativne prednosti u poljoprivredi, energetici i turizmu, posebno zimskom i seoskom. Uslovi se svakog dana poboljšavaju. Dug je put pred nama i da bismo realizovali namjeravano moramo da uskladimo glavne parametre u regionalnoj i regulatornoj infrastrukturi, kako bismo razmjenjivali robe i usluge po principu jednake konkurentosti. Mislim da je ova Konferencija prvi korak ka tome. Sabina Koleša, generalna direktorica u Ministarstvu ekonomije Slovenije: Za nas su i EU i zapadni Balkan važni regioni. Naravno, većinom smo sarađivali sa EU u proteklih 20 godina, ali Balkan čini nekih 20 odsto naših ekonomskih aktivnosti. Veoma smo zainteresovani za integraciju zemalja regiona u EU, kao i za energetske projekte, razmjenu studenata i slično. Ono što vidimo kao šansu je saradnja u fazama povezivanja malih i srednjih preduzeća i mogućnosti za rast zapošljavanja. Saradnja na polju turizma je takođe veoma bitna jer on čini oko 20 odsto našeg BDP. Radna grupa koja će usaglašavati zajedničke projekte biće od koristi svima. Dragan Milović, pomoćnik ministra za ekonomski razvoj i preduzetništvo Bosne i Hercegovine: Bosna i Hercegovina je naravno životno zainteresovana za regionalnu saradnju, jer se nalazimo u centralnom dijelu ovog regiona i istorijski smo, sociološki i kulturno povezani preko granica naše zemlje sa ljudima u regiji. Ali, sve zemlje su u različitim fazama integracija i to su veliki izazovi. Prvo, mi unutar Bosne moramo da se dogovorimo o strateškim pitanjima u infrastrukturi, obrazovanju i razvoju, pa tek onda da razgovaramo o tome sa susjedima. CEFTA saradnja ide nekako sporo, bez izvršnosti, samo je na nivou dogovora i razgovora. Stoga mi se čini da inicijativa potekla sa ove Konferenciji ima perspektivu, te da sa nekim ko može da nas usmjerava, naši potencijali mogu doći do izražaja. cannot have an adequate market. However, parallel with this, we need to work on the IT infrastructure, education system, small and medium sized enterprises because that is most important. We are open towards Europe but we also hope for a two-way trade with the developed countries of the EU. I am pretty sure that the German government expresses increased interest for the Western Balkans and considers stimulating measures for investors who come to the region. We have to work more on the rule of law and the fight against corruption but we also need more reliable capital and cheap money as it has been the case so far. We have come to the consensus that we need better financing conditions. Regional countries are in different positions. Kosovo has not achieved too many benefits from CEFTA because it has mainly imported from this region. We have comparative advantages in agriculture, energy and tourism, especially in the winter and rural tourism. The conditions have been improving constantly. There is a long road ahead of us and, in order to realize this, we have to harmonize the main parameters in the regional and regulatory infrastructure so that we could have trade in commodities and services on the principle of equal competitiveness. I think that this Conference is the first step towards this aim. Sabina Kolesa, General Manager at the Ministry of Economy of Slovenia: Both the EU and the Western Balkans are important regions. Of course, in the recent twenty years we have cooperated with the EU but the Balkans makes some 20 per cent of our economic activities. We are very interested in the integration of the regional countries in the EU, as well as in the energy projects, student exchange, etc. What we see as a chance is the cooperation in the phases of the networking of small and medium sized enterprises and in the opportunities for the increase of employment. Cooperation in the area of tourism is also very important because it makes cca 20 per cent of our GDP. The working group which will harmonize the joint projects, will work to the benefit of all. Dragan Milovic, Assistant Minister for Economic Development and Entrepreneurship of Bosnia and Herzegovina: Bosnia and Herzegovina is highly interested in regional cooperation because we are situated in the central part of this region and we are historically, sociologically and culturally connected with the people from the region. However, all these countries are in different phases of integrations, which is a big challenge. First of all, we in Bosnia have to agree on strategic infrastructure issues, education and development and only then can we discuss these issues with our neighbors. CEFTA cooperation is somehow slow, without any concrete actions. It is only on the level of talks and agreements. Therefore, it seems that the initiative from this conference has a perspective and that with someone who would know how to direct us, we could achieve full use of our potentials. Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 43

44 ZBORNIK KONFERENCIJE 44 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

45 CONFERENCE PROCEEDINGS Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 45

46 ZBORNIK KONFERENCIJE Panel: SPREMNI ZA EVROPSKO TRŽIŠTE KAKO OJAČATI KOMPANIJE DA BUDU KONKURENTNE Moderator: Stanko Zloković Savjetnik Komore, Privredna komora Crne Gore Panelisti: Velimir Mijušković Predsjednik, Privredna komora Crne Gore Rüdiger Schulz Elena Štrbevska Nemanja Vasić Safet Gerxhaliu Zdravko Jelušić Predsjednik, Savjet stranih investitora u Crnoj Gori Zamjenik predsjednika, Privredna komora Makedonije Predsjednik, Spoljnotrgovinska komora Bosne i Hercegovine Predsjednik, Privredna komora Kosova Potpredsjednik, Privredna komora Srbije 46 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

47 CONFERENCE PROCEEDINGS Panel: FIT FOR THE EUROPEAN MARKET HOW CAN WE STRENGTHEN COMPANIES TO BE COMPETITIVE Moderation: Stanko Zlokovic Advisor to the Chamber, Chamber of Economy of Montenegro Panelists: Velimir Mijuskovic President, Chamber of Economy of Montenegro Rüdiger Schulz Elena Strbevska Nemanja Vasic Safet Gerxhaliu Zdravko Jelusic President, Foreign Investors Council in Montenegro Deputy President, Economic Chamber of Macedonia President, Foreign Trade Chamber of Bosnia and Herzegovina President, Kosova Chamber of Commerce Vice President, Chamber of Commerce and Industry of Serbia Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 47

48 ZBORNIK KONFERENCIJE 48 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

49 CONFERENCE PROCEEDINGS Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 49

50 ZBORNIK KONFERENCIJE Stanko Zloković, savjetnik Privredne komore Crne Gore Otvarajući panel pod nazivom Kako jačati kompanije da bi bile konkurentnije, Stanko Zloković, savjetnik Privredne komore Crne Gore, koji je moderirao istim, naglasio je da su organizatori pripremajući Konferenciju smatrali da ovom kompleksu pitanja najrealnije i najcjelovitije odgovore mogu dati upravo predstavnici nacionalnih privrednih asoscijacija, što je razlog da govornici na panelu budu predsjednici Komora regiona ili njihovi zamjenici, te predsjednik Savjeta stranih investitora u Crnoj Gori. Pitanje ekonomske povezanosti u regionu u dobrom dijelu izjednačava se sa pitanjem uspostavljanja saradnje sa susjedima. Individualni koncept za saradnju treba zgusnuti u ozbiljne regionalne projekte, koji bi otvorili nova radna mjesta i uspostavili horizontalne veze među privrednicima iz regiona. Od brzine realizacije projekata projekata koji povezuju region zavisiće položaj naše privrede i konkurentnost na globalnom tržištu. Kada se završe infrastrukturni projekti, uz dobru fiskalnu i ekonomsku politiku, efikasan pravni sistem, stabilne institucije, imaćemo neophodne uslove za kvalitetan rad privrede i za konkurentnost, ali ne dovoljne za uspješnu ekonomiju. Jer, bogatstvo nastaje na mikro planu. Tu treba da se radi i da bi se kroz, prije svega, znanje i učenje, stvorili uslovi da možemo biti konkurentni. Osnova konkurentnosti je sposobnost država i kompanija da mobilišu, privuku i zadrže znanje. A sa znanjem, prirodno idu inovacije, kretivnost i nove tehnologije. Dakle, bez novih tehnologija, bez znanja čini mi se da teško možemo opstati na tržištu gdje se svi bore i traže svoje mjesto. Tokom prvog dana Konferencije organizovani su vrlo kvalitetni razgovori ministara iz regiona, koji su izrazili optimizam da će se zapadni Balkan razvijati u dobrom pravcu. Napravljeni su bitni koraci da se, u politčkom pogledu, zatvore ključna pitanja koja su bila prepreka za ekonomski razvoj regiona, tako da je tema, koju smo kandidovali za ovaj panel je itekako značajna za kompletan region, a posebno za kompanije i za razvoj društva. Ova tema treba da da odgovore i da pokrene odgovore kako naše kompanije, na složenom svjetskom i evropskom tržištu, mogu da konkurišu i koje aktivnosti su neophodne da se to i desi, naglasio je Zloković. Elena Štrbevska, zamjenik Predsjednika, Privredna komora Makedonije Tema konkurentnosti je od vitalnog značaja za Republiku Makedoniju u svjetlu njenog ekonomskog razvoja, napora da se smanji nezaposlenost i ubrza integracije u Evropsku uniju. Izgradnja konkurentne ekonomije je veoma složen, dugotrajan i težak zadatak, koji uključuje proces ekonomske nadogradnje koja se u kontinuitetu dešava tokom dugog vremenskog perioda. Kada razgovaramo o zadatku izgradnje ekonomske konkurentnosti Makedonije i postepenog približavanja zemlje Stanko Zlokovic, Adviser at the Chamber of Economy of Montenegro Opening the panel How to Strengthen Companies to Be More Competitive, Mr Stanko Zlokovic, Adviser at the Chamber of Economy of Montenegro, and the moderator of the panel, has emphasized that the organizers considered that this complex of issues can most realistically and most extensively be addressed by the representatives of the national economic associations, which was the reason why the invited speakers at the panel were the presidents or the vice-presidents of the regional chambers, and the president of the Council of Foreign Investors in Montenegro. The issue of economic regional networking is to a great extent considered as the issue of the establishment of cooperation with the neighbors. The individual concept of cooperation should be compacted in serious regional projects, which would open new jobs and establish horizontal relations among the regional entrepreneurs. The speed of project realizations which connect the region will affect our economy and global competitiveness. When the infrastructure projects are completed, with a good fiscal and economic policy, efficient legal system and stable institutions, we will have in place the necessary conditions for the quality work of economy and competitiveness, but not sufficient for successful economy, because wealth is created on the micro plan. We need to work on this, to study and use our knowledge to create the conditions to be competitive. The basis of competitiveness is the states and the competitiveness ability to mobilize, attract and retain knowledge. Naturally, along with the knowledge, we have innovations, creativity and new technology. Therefore, without new technologies, without knowledge, it is difficult to survive at the market where everyone fight and search their place. During the first day of the conference, regional ministers held very useful talks where they expressed optimism that the Western Balkans will develop in a good direction. Important steps have been made to close the key political issues which were the obstacle for the economic development of the region. Therefore, the topic we chose for this panel is extremely important for the entire region, especially for the companies and the development of society. This topic should give or start responses as to how our companies, on a complex world and European market, may be competitive and which activities are necessary for this to happen, Mr Zlokovic has emphasized. Elena Strbevska, Vice-President, the Chamber of Economy of Macedonia Competitiveness is the topic of vital importance for the Republic of Macedonia in light of its economic development, the efforts to reduce unemployment and speed up the EU integration process. The development of a competitive economy is a complex, long-term and difficult task, which includes the process of economic upgrading which has been done over a long period of time. 50 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

51 CONFERENCE PROCEEDINGS EU, činjenica je da jedan dio ovog zadatka čini kontinuirano sprovođenje regulatornog okvira EU. Usklađivanje propisa na regionalnom nivou, nije izolovani zadatak koji se dešava samo jednom, jer ovaj proces zahtijeva stalno nadgledanje. Unapređenje kapaciteta ekonomije je takođe od suštinskog značaja. Kada posmatramo instrumente i mjere politika za podršku napretka preduzeća, naglasak više treba staviti na podršci preduzećima nego na zaštiti: ukoliko institucije, komore i banke ne uspiju da prošire podršku preduzećima, onda kompanije neće biti spremne da se suoče sa konkurencijom koju su postavila tržišta zemalja članica EU. Ako pogledamo trenutno stanje stvari, vidjećemo da se većina problema tiče: strukture proizvodnje i njene nemogućnosti da bude u skladu sa zahtjevima tržišta; nedostatka standarda; nedostatka pouzdane baze podataka; prilično visokih troškova usljed niske produktivnosti i nedostatka razboritosti; odabira cijene kao preferiranog faktora za konkurentnost; zaostatka nekih sektora u smislu tehničkog i tehnološkog razvoja, nedovoljne promocije proizvoda; skupih kredita i nezadovoljavajućeg nivoa logističke podrške. U ovom trenutku bez sumnje se moramo zapitati: na koji način se nosimo sa izazovima vezanim za konkurentnost i koja je uloga i mjesto komora u ovom domenu? Privredna komora Makedonije se temom konkurentnosti bavi na nekoliko načina i sarađuje sa Vladom Republike Makedonije pošto njeni predstavnici sjede u Savjetu za nacionalno preduzetništvo i konkurentnost. Na kraju, izuzetno je važno napomenuti da je Privredna komora Makedonije, slično ostalim komorama u svijetu, preduzela brojne aktivnosti za stvaranje ekonomije koja bi više ličila na međunarodne ekonomije, uz očuvanje pozicije na globalnim tržištima i osvajanje novih tržišta. Da bi se povećalo učešće kompanija i aktivnosti na sajmovima, izložbama i bilateralnim sastancima, kao i da bi se one podržale da u sprovođenju svojih aktivnosti postignu veći uspjeh, svaki oblik stimulansa i podrške od strane države i naših stranih partnera je više nego dobrodošao. Safet Gerxhaliu, predsjednik, Privredna komora Kosova Odavno je poznato da se na Balkanu više priča o ekonomiji nego što se čini na njenom razvoju i da se ne može nikad pričati o čistim ekonomskim problemima bez političke konotacije. Upravo ova uska povezanost politike i ekonomije izgleda da sprečava i usporava ekonomski razvoj regiona. Ja mislim da ovakve konferencije idu u prilog jačanju dijaloga i partnerstva između država regiona. Najbitnije je, a što može da bude poruka, videći ovdje mlade ljude koji su perspektiva i budućnost regije, da je vrijeme da počnemo misliti regionalno, raditi integrirano i pripremiti se globalno. Ako shvatimo ova tri izazova kao primarne izazove, ciljno, regija Balkana ima perspektivu da, kroz ekonomski razvoj, inicira i stabilizuje političke odnose, kroz ekonomski razvoj doprinese socijalnom miru, i kroz ekonomski razvoj ubrzava proces integracija u Evropsku uniju. Istina je da je to da se regija suočavasa četiri E, koja su od velikog značaja. Prvo E When it comes to the development of economic competitiveness of Macedonia and gradual EU accession, it is a fact that one part of this task is a continuous implementation of the EU regulatory framework. The harmonization of the regulations on a regional level is not an isolated task which happens only once. It requires constant supervision. The improvement of the economic capacities is also of crucial significance. If we take a look at the instruments and measures of the policies for the support of the enterprises progress, the accent will be put more on the support to the enterprises than to their protection. If the institutions, chambers and banks do not manage to extend the support to the enterprises, the companies will not be ready to face the competition set by the markets of the EU countries. If we take a look at the current situation, we will see that the majority of these problems concern: the structure of production and its impossibility to be in line with the market demands; the lack of standards; the lack of a reliable database; quite high costs due to low productivity and lack of prudence; the selection of prices as a preferred factor for competitiveness; the delay of some sectors with respect to technical and technological development, inadequate promotion of products; expensive loans and unsatisfactory level of logistic support. At this moment we must undoubtedly ask ourselves: how should we face the challenges related to competitiveness and what is the role and the position of chambers in this domain? The Chamber of Economy of Macedonia addresses the issues in several ways and cooperates with the Government of Republic of Macedonia as it has representatives in the Council for National Entrepreneurship and Competitiveness. Finally, it is extremely important to emphasize that the Chamber of Economy of Macedonia, similar to other world chambers, has undertaken numerous activities for the creation of economies similar to international economies, with the maintenance of the position at the global markets and winning new markets. In order to increase the participation of the enterprises and activities at the fairs, exhibitions and bilateral meetings, as well as to support them to achieve better success, any form of stimulus and support by the state and our foreign partners is more than welcome. Safet Gerxhaliu, President, Chamber of Economy of Kosovo It is a well-known fact that the Balkan countries speak more about economy rather than work on its development and that we cannot speak of pure economic projects without political connotations. It seems that exactly this close connection of politics and economy prevents and slows down the economic development of the region. I think that the conferences of this type are in favor of strengthening dialogue and partnership among the regional states. The most important thing, and this can be considered as a message based on these young people who make the perspective and the future of the region, is that it is the time to start thinking regionally, act integrally and prepare globally. If we understand these three challeng- Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 51

52 ZBORNIK KONFERENCIJE je Evropa, drugo je ekonomija, treće je obrazovanje i, četvrto je energetika i životno okruženje. Prema tome, vidite da svi imamo iste probleme, pa moramo pojačati dijalog i partnerstvo. Tek onda kad mi mislimo regionalno, kada počnemo promovirati regiju, i eliminirati Internet barijere, to će biti od efektivnog značaja. Prvo ćemo riješiti socijalne probleme, drugo ćemo poboljšati imidž Balkana, a treće, što je najvažnija stvar, ojačaćemo i povećaćemo interesovanje stranih ulagača da se pokrenu prema Balkanu. Istina je da je, prije 15, 20 godina, bilo je svega i svačega lošeg na ovom prostoru. Upravo je neophodan je ovakav dijalog, i ovi skupovi doprinose da se promijeni percepcija o Balkanu. Jer ako to postignemo, ja mislim da je to najveći uspjeh. Istina je to da smo ulagali dosta u infrastrukturu i sa Albanijom, kada smo počeli, i sa Makedonijom, ali ja mislim da moramo, na neki način, kroz tu infrastrukturu, raditi paralelno da vratimo povjerenje među nama, da jačamo vjeru u obrazovanje, da jednostavno kroz ovo što radimo interno u regionu ojačamo eksterno partnerstvo sa stranim ulagačima. Ni Kosovo, niti ijedna zemlja u regionu ne može imati neki ekonomski bum bez stranih ulaganja. A mi zajedno, naravno, možemo imati razne konferencije, možemo napraviti razne analize i studije, identifikovati 100 raznih problema sa kojima se sukobljavamo bilo da je to korupcija, birokratija, nepotizam, ali moramo shvatiti da je jedini zajednički imenitelj za rješavanje svih ovih problema zakon i pravda, odnosno sprovođenje vladavine prava. Ako to postignemo, regija će dobiti kredibilitet, o regiji će se promijeniti percepcija, i sigurno ćemo tada imati i strana ulaganja, koja će doprinijeti ekonomskom miru, političkoj stabilnosti i perspektivi svih nas. Nemanja Vasić, predsjednik, Spoljnotrgovinska komora Bosne i Hercegovine Trenutno su kod nas u Bosni politička pitanja dominantnija, jer su u toku kampanje za izbore. I pozicija i opozicija u kampanji govore o pokretanju privrede kao jedinom izlazu iz ove ekonomske situacije zbog koje je Bosna i Hercegovina po brojnim pokazateljima posljednja u regionu. Nema više izgovora u stilu rat se srušio na 90% privrede; posljedica je kasnija privatizacija gdje je sve pošlo u bescijenje, jer je prošlo 20 godina od rata i u Bosnu je uloženo oko 30 milijardi što donatorskih sredstava, što kredita, i očigledno da ta šansa sa tim ulaganjima nije iskorištena. Bila je dobra volja Evropske unije i drugih da pomognu. Trgovinski sporazum sa Evropskom unijom govori da je Evropska unija imala namjeru da pomogne Bosni i Hercegovini, jer je tim sporazumom Bosna i Hercegovina imala privilegovani status, zadržane su carine za robe iz Evropske unije sa željom da se komapnije u Bosni I Hercegovini osnaže, da stasaju da bi u nekom kasnijem vremenu mogle ući u ravnopravnu utakmicu sa kompanijama iz okruženja i Evrope. Ali, kažem, ta šansa nije iskorištena, izgubljeno je povjerenje, smanjenje su donacije i mi imamo sad izuzetno veliku prezaduženost, gdje je vlast pribjegla podizanju silnih kredita i jedan entitet je zadužen 50% bruto društvenog proizvoda, drugi 33%, što dovoljno govori o situaciji u kojoj se nalazi Bosna I Heres as primary, the Balkan region will have the perspective to initiate and stabilize political relations, contribute to social peace, speed up the EU integration process all this through economic development. True, this is the region which faces four very important E-s: Europe, economy, education and energy and environment. Therefore, you can see that we all have the same problems and we have to strengthen the dialogue and partnership. Only when we think regionally, when we start to promote the region and eliminate internet barriers, this will bring results. We will solve social problems, then we will improve the image of the Balkans and, what is most important, we will strengthen and increase the interest of foreign investors to move towards the Balkans. It is true that years, many bad things were happening in the region. We need exactly this kind of dialogue as it might contribute to the changed perception of the Balkans. If we achieve this, I think that this would be the biggest success. It is true that we invested a lot in the infrastructure with Albania, when we started, and with Macedonia. However, I think that through this infrastructure, we must in a way work parallel to bring back mutual trust, strengthen the trust in education, simply to strengthen external partnership with the foreign investors through what we do internally in the region. Neither Kosovo nor any state in the region can have an economic boom without foreign investments. And we together, of course, can have different conferences, make various analyses and studies, identify 100 different problems that we face, such as corruption, nepotism, etc., but we have to understand that the common denominator for all of these problems are law and order, i.e. implementation of the rule of law. If we achieve this, the region will receive credibility, the perception of it will be changed and we will certainly receive foreign investments which will contribute to the economic peace, political stability and perspective for all of us. Nemanja Vasic, President, Foreign Trade Chamber of Bosnia and Herzegovina Currently, in Bosnia the political issues are more dominant because we have ongoing election campaigns. Both the ruling party and the opposition speak about boosting economy as the only wayout from this economic situation which has placed Bosnia in the last place in the region, according to numerous indicators. The excuses, such as the war destroyed 90% of the economy and resulted in a privatization where everything was sold very cheap, no longer hold because it has been twenty years since the war ended and in the meantime cca 30 billion EUR were invested in Bosnia, both donor funds and loans. It is obvious that we did not use properly the chance offered through these investments. The EU and other had good intentions to help. The trade agreement with the EU indicates that the EU had an intention to help Bosnia and Herzegovina because it guaranteed Bosnia and Herzegovina a privileged status, the customs for commodities from the EU were retained with an aim to strengthen the BiH companies and, at a certain point of time, to be able to enter fair competition with the EU and neighboring companies. However, this 52 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

53 CONFERENCE PROCEEDINGS cegovina. Naravno još ću malo samo o ovoj krizi koja će dovesti do situacije u kojoj smo sad. Smanjene su donacije, smanjeni su krediti jer su bili skupi, i pošto je odnos administrativnih i radnika u realnom sektoru 2:1, da bi se finansirao taj administrativni aparat, vlast je u posljednih šest, sedam godina, doprinose i poreze podigla sa 60% na 68 %, stvorena dobit sa 10 na 20%, tako da je još više opteretila privredu i došlo je do gašenja brojnih firmi i do armije nezaposlenih od 520 hiljada. Sada imamo situaciju da je ugrožena Bosna i Hercegovina, zemlja sa velikim energetskim potencijalom i izvorima za električnu energiju, sa velikim rudnim bogatstvima, ogromnim obradivim površinima, bazom za razvoj drvne industrije, kvalifikovanom radnom snagom. Ona nije ugrožena samo ekonomski. Mi smo čak ugroženi i demografski, jer je došlo do odliva stanovništva. Obrazovani ljudi, završavaju fakultete i odlaze u zemlje Zapadne Evrope, Ameriku, Kanadu, Australiju, jer ne mogu da nađu posao u Bosni i Hercegovini i to je sad, praktično, Bosna je najnenaseljenija zemlja u Evropi, sa prosjekom od nekih 70 stanovnika na kvadratni kilometar, sa tendencijom daljeg opadanja, ukoliko se nešto ne preduzme. Šta preduzeti? Kratkoročno i dugoročno, naravno, treba preduzeti neke mjere. Prva mjera bi morala biti ne zavisi samo od nas, ali - morali bi da tražimo od Međunarodnog monetarnog fonda, od banaka, reprogram kredita ili moratorijum na otplatu kredita da se jednostavno predahne, da se pokuša okrijepiti privreda. Moramo ići na mjere štednje - mora doći do rezanja plata u administraciji, penzija, nešto slično što je Srbija već preduzela. Otpuštanje radnika da, ali, naravno, da izbjegnemo kontra efekte u demografskom smislu. Moramo prvo pokušati sa penzionisanjem ljudi, a ne otpuštanjem. Moramo smanjiti doprinose i poreza na stopu od 50% koja je bila prije šest, sedam godina. Naravno, ukoliko smanjimo administrativni aparat, to neće biti problem. Porez na dobit svesti ponovo na 10%, jer moramo priznati da je dolazak stranih investitora vezan za taj segment, to im je motiv, osnovni kriterijum, a normalno da neće doći u državu u kojoj je baviti poslom. Naravno, zbog velikog stepena korupcije, potrebno je ojačati inspekcijske kontrole. A, ono što mi očekujemo - očekujemo dosta od regionalnih projekata, jer Bosna i Hercegovina, u centru Balkana, morala bi biti nezaobilazna u svim projektima, bilo da se radi o infrastruklturi putnoj, željezničkoj, i svako povezivanje koridora B, C, Jadransko-jonske magistrale i koridora 10, neminovno bi trebalo da ide preko Bosne i Hercegovine i mi tu vidimo šansu za upošljavanje naše građevinske operative, pokretanje koje bi moglo da pokrene i našu privredu. Možda nam je i prednost što smo posljednji u regionu u svim pokazateljima, i u reformama, i što ćemo posljednji u Evropsku uniju da se malo našalim, jer ćemo imati iskustvo svih drugih kako postupaju u pripremi i svim procesima, pa ćemo sva ta pozitivna iskustva iskoristiti, a negativna zaobići. Rüdiger Schulz, predsjednik Crnogorskog savjeta stranih chance was missed, the trust was lost, the donations were reduced and we now have an extremely big indebtedness, where the authorities opted for taking big loans so that we have one entity indebted with 50% of its GDP and the other one with 33%, which says enough about the situation in which Bosnia and Herzegovina is now. I will say a few more words about this crisis which has led us to the situation in which find ourselves now. The donations have been reduced, the loans have also been reduced because they were expensive and, since the ratio of administrative employees and those in the real sector has been 2:1, in order to finance the administrative bodies, in the recent six, seven years, the government has raised the contributions and taxes from 60% to 68%. The profit has been raised from 10 to 20% and it has burdened economy even more, which has led to the closure of numerous companies and the army of the unemployed of 520,000. Now we have a situation that Bosnia and Herzegovina, the country with big energy potential and sources for electricity, with big mineral resources, vast areas of arable land, the basis for the development of wood industry, qualified workforce, is in danger. It is not endangered in economic terms, only, but also demographic because of the brain drainage. Educated people finish faculties and move to the EU, USA, Canada, Australia, because they cannot find a job in Bosnia and Herzegovina. Now, Bosnia is practically the least populated country in Europe, with an average of 70 inhabitants per km2, and with the tendency of further decline if we do not take any steps. What steps should we take? Of course, we need to introduce certain short and long-term measures. The first measure would have to be, and it does not depend on us only but we would have to ask from the IMF, from the banks - the reprogram of the loan or moratorium on the payment of the loan, just to take a breath and to try to refresh the economy. We have to introduce austerity measures reduction of salaries in the administration sector, reduction of pensions. Serbia has already introduced similar measures. Closing of some jobs, yes, but of course, we need to avoid the backlashes in the demographic sense. We have to start first with retirements not with the closing of jobs. We have to reduce contributions and taxes to the rate of 50%, which was in place some six or seven years ago. Of course, if we reduce the administration body, that will not be a problem. The tax on profits should be reduced to 10% because we have to admit that the arrival of foreign investors is related to this segment. It is their motive, the basic criterion. It is normal that they will not come to the country where it is impossible to do business. Of course, due to the high level of corruption, it is necessary to strengthen inspection controls. And what do we expect? We expect many things from regional projects because Bosnia and Herzegovina, in the center of the Balkans, should not be left out from any project, whether we speak about infrastructure: road, railroad, and any networking of the Corridors B, C, Adriatic Ionian highway and Corridor 10. All these projects should pass through Bosnia Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 53

54 ZBORNIK KONFERENCIJE investitora i izvšni direktor Telekoma Kako osnažiti lokalne kompanije da budu konkurentne? To je veoma teško pitanje, pitanje od milion dolara. Crna Gora će ući u Evropsku uniju i to je dobro, ali će EU doći i k nama, što je druga strana medalje. Naše tržište je potrebno prilagoditi činjenici, jer ćemo se takmičiti sa kompanijama koje imaju razvijenije ekonomije obima od crnogorskih. Pokretanje biznisa znači bavljenje dozvolama, dobijanjem električne energije, registrovanjem svojine, kreditima, zaštitom investicije, plaćanjem poreza, prekograničnom trgovinom, rješavanjem nesolventnosti. Sve to mora da protekne bez problema, bez obzira radi li se o Crnoj Gori ili nekoj drugoj zemlji u regionu. Za stranog pa i lokalnog investitora postoje četiri ili pet oblasti koje su jako važne. Prva je vladavina prava, jer kad god pokrećete biznis morate imati predvidljivo okruženje, inače vam niko neće dati novac. Previše je izazova u ovoj oblasti. Druga je tržište rada i zapošljavanje, u čemu mora postojati fleksibilnost. Investitori novac ne ulažu po političkoj odluci, već tamo gdje je okruženje za biznis. Koristeći sportsku metaforu, potrebno je da je igralište dobro, moramo uložiti da bi to bilo tako, upravljati njime. Potrebni su nam infrastruktura, logističko okruženje, ulice, letovi, obrazovani ljudi - radna snaga. Učenici dolaze na radna mjesta bez prave obuke i to nije kvalitet kojim možemo da se takmičimo na evropskom tržištu. Kada smo uredili teren za igru slijedi učenje njenih pravila. Pravila se moraju poštovati jer inače nećete biti uspješni. Komore i Savjet za strane investicije u tome mnogo mogu da pomognu, objašnjavanjem pravila, obukom ljudi, jer je jako bitno prenijeti znanje. Na kraju, potrebno je biti bolji od svih drugih igrača. To je najbolji recept za uspjeh i u Evropskoj uniji.. Svaka zemlja mora naći svoju konkurentsku prednost. Moramo naći nišu, prostor za djelovanje naših kompanija. Moramo znati šta je brend u našim zemljama i ne boriti se protiv velikih EU kompanija. Mislim da zemlje regiona imaju puno stvari koje mogu da ponude u turizmu, energetici, poljoprivredi, samo je potrebno pronaći kvalitativnu prednost. Njemačka je, recimo, sada fokusirana na biohranu,a ja im kažem dođite u Crnu Goru jer je ovdje sve bio, hrana je jednostavno bolja. U odnosu na standarde EU ona je možda ružnija ali ima fenomenalan ukus. Jako mi je drago što smo uspostavili saradnju sa savjetima stranih investitora u regionu, što nas osnažuje jer ako je jezik nekog područja isti, kao I mentalitet, onda su ideje iste. To treba da iskoristimo i uspostavimo regionalno tržište jače nego što su pojedinačna. Zdravko Jelušić, potpredsjednik, Privredna komora Srbije Ovo su godine kada treba zajedno da radimo na rešavanju stanja u regionu. Nadam da je došlo vreme kada će ekonomija na zdravim osnovama sigurno povezati Balkan. Međutim, da bi se to desilo, i mi moramo da se menjamo. Da bi povećali nivo konkurentnosti, moramo prepoznati gde and Herzegovina and we see in them the chance for the employment of our construction companies, which would boost our economy. It may be our advantage that we are in the last position in the region by all indicators, and in the reforms, too, and that we will be the last to enter the EU (this is just a joke) because we will have the experience of all other countries as to how they acted in the preparation and all processes and we will follow those positive experiences and avoid negative. Rüdiger Schulz, President of the Montenegrin Foreign Investors Council and the Executive Manager of Telekom How to strengthen local companies to be competitive? This is a very difficult question, a million dollar question. Montenegro will enter the EU and that is a good thing. But the EU will also come to us, which is another side of the coin. Our market needs to adapt to this because we will compete with the companies which have more developed economies of scales than the Montenegrin companies. Starting of the business implies having to do with licenses, electricity supply, registration of ownership, loans, protection of the investment, tax payments, cross-border trade, dealing with insolvency. All this should be done without problems, no matter if we refer to Montenegro or some other state in the region. There are four or five very important areas for foreign and local investors. The first one is the rule of law because whenever you start a business, you must have a predictable environment. Otherwise, no one will give you the money. There are too many challenges in this area. The second one is the labor market and employment, which should be flexible. The investors do not invest money following the political decision but there where they have a good business environment. To use the sport metaphor, we need a good playground, we need to invest in it so that it would be such that we can manage it. We need the infrastructure, logistic environment, streets, flights, educated people workforce. The students get jobs without an adequate training and that is not the quality with which we may compete at the EU market. When we have done with the playground, we need to learn the rules of the game. The rules must be respected. Otherwise, you will not be successful. The chambers and the Foreign Investment Council may help a lot in this, through explaining the rules and training people, because it is very important to transfer knowledge. Finally, you need to be better than all other players. This is the best receipt for success in the EU, too. Each country needs to identify its comparative advantages. We have to identify the niche, the space for our companies activities. We have to know what a brand is in our countries and not fight against big EU companies. I think that the regional countries have many things to offer in tourism, energy, agriculture they only need to discover their comparative advantages. For example, Germany is focused on bio food. I tell to them: come to Montenegro because here all food is bio. Simply, the food is better here. With respect to the EU standards, it may look 54 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

55 CONFERENCE PROCEEDINGS pravimo greške. Izvjesno je da su ključni faktori koji sprečavaju ovaj region da se ekonomski jače razvije vrlo loše administracije, mnoštvo propisa, zakonskih i podzakonskih akata te vrlo visok stepen korupcije kao i praktično nepostojanje pravih finansijskih izvora za pomoć privredi. Ako govorimo o administraciji, svi pokušavamo da se prestrojimo na evropski put i, otprilike, za naše administracije, opravdanje što se zakoni ne menjaju je to da još nisu došli na red na nekom evropskom putu. Sa druge strane je korupcija. Ono što se radi kod nas u Srbiji, budite sigurni, vrlo značajan fokus se stavlja na borbu protiv korupcije i njeno svođenje na nivo koji postoji i u drugim državama Evrope. Ali ovo treće, finansiranje privrede najveći je problem. Moramo danas da zamolimo naše prijatelje iz Nemačke da utiču na to da ozbiljne banke dolaze iz Zapadne Evrope dolaze u region sa izvorima finansiranja po ceni koja jeste barem približna onoj u Zapadnoj Evropi, jer ne možemo imati konkurentne proizvode kada nam je u startu visoka njihova cena koštanja, bez obzira što imamo jeftinu radnu snagu. Jeftina radna snaga je jedan od činilaca, a ne primarni. Prema tome, koristim prliku da i sa ovog ekonomskog foruma pozovem naše prijatelje da nam u tome pomognu. Značajno je da edukovana radna snaga mora da bude na takvom nivou da može sutra da parira radnoj snazi u razvijenim državama i mi se spremamo da uvedemo dualno obrazovanje, slično onom u razvijenim evropskim državama. Imamo od koga da učimo, i pokušaćemo u nekim stvarima da dostignemo i prestignemo naše učitelje. Gde je tu uloga komora? Pa, imamo jednu veliku prednost što imamo, manje ili više, jedinstven medijski prostor. Oni koji se bave medijima to vrlo dobro o čemu govorim. Prema tome, hajde da to iskoristimo i mi da samo na istom putu. Ako sad pominjem dualno obrazovanje u Srbiji, ako se nešto slično pominje u drugoj zemlji, dajte da zajedno idemo u istom smeru. Zahvaljujem Privrednoj komori Crne Gore i gospodinu Mijuškoviću što su napravili ovaj ekonomski forum. Mislim da češće treba okupljati značajne privrednike i ohrabrivati formiranje regionalnih klastera, kao i druge vrste udruživanja. Velimir Mijušković, predsjednik, Privredna komora Crne Gore Ekonomska kriza, nakon godina izrazito dinamičnog ekonomskog rasta usporila je i ugrozila napredak balkanskih zemalja. Izuzetak nije ni Crna Gora. Crnogorska ekonomija u godini, prema procjenama, ostvarila je realan rast od 2,6%, a projekcije, za period godine, pokazuju da će ekonomija u godini zabilježiti stopu rasta BDP-a od 3,6%. Prema Indeksu globalne konkurentnosti za 2014/2015. godinu, Crna Gora je rangirana na 67. mjestu od 144 zemlje. Od zemalja iz okruženja, Makedonija je jedino bolje rangirana na 63.mjestu. Slovenija je na 70. mjestu, 77. mjesto zauzima Hrvatska i 94. Srbija. I pored relativno povoljnih podataka koji pokazuju sposobuglier but it has a phenomenal taste. I am extremely pleased that we have established cooperation with the councils of foreign investors in the region, which strengthens us, because if the language and the mentality of an area are the same, then the ideas are the same, too. We should use this and establish a regional market which would be stronger than the individual markets. Zdravko Jelusic, Vice-President, Chamber of Economy of Serbia These are the years when we should work together on the solution of the situation in the region. I hope that the time has come when the economy set on sound grounds will connect the Balkans. However, in order for this to happen, we need to change, too. In order to raise the competitiveness level, we have to understand where we make mistakes. The key factors which prevent this region to be more economically developed are certainly: very bad administration, numerous regulations, legal and sub-legal acts, a very high level of corruption, as well as the lack of real financial sources to help economy. Speaking of administration, we are all trying to get on the European road and the excuse for our administration might be that the laws are not changing because their turn has not come yet. On the other hand, there is corruption. In Serbia the focus is placed on the fight against corruption and its sizing down to the level which exists in other European countries. But this third factor, financing of the economy, is the biggest problem. Today, we have to ask our friends from Germany to influence serious banks from Western Europe to come to the region with the sources of financing at the prices which are at least close to the ones in Western Europe because we cannot have competitive products when their cost price is high, regardless of the cheap workforce. Cheap workforce is one of the factors, not the primary one. Therefore, I use this opportunity at this economic forum to ask our friends to help us in this. It is important that the educated workforce must be on such a level so that it can be a good opponent to the workforce in the developed countries and we are currently working on the introduction of dual education, similar to the one in developed countries. We have an example to follow and we will try to reach and surpass our teachers. What is the role of the chambers in this? Well, we have one big advantage we have, more or less, a unique media space. Those who deal with the media know very well what I mean. Therefore, let s use it and be on the same road. If I am talking now about dual education in Serbia and if something similar is mentioned in some other country, let s go together in the same direction. I thank the Chamber of Economy of Montenegro and Mr Mijuskovic for the organization of this economic forum. I think that we need to gather important entrepreneurs and encourage the establishment of regional clusters, as well as other types of associations. Velimir Mijuskovic, President, Chamber of Economy of Montenegro Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 55

56 ZBORNIK KONFERENCIJE nost nacionalne ekonomije da obezbijedi rast faktora produktivnosti i blagostanja njenih građana, rezultati robne razmjene Crne Gore sa inostranstvom, koji već više od 20 godina imaju negativne bilanse, ukazuju da postoji ogroman prostor za unapređenje konkurentnosti domaće privrede. U prošloj godini je svega petina uvoza bila pokrivena izvozom. Ovakve rezultate u robnom prometu sa inostranstvom dijelom ublažavaju prihodi od usluga. Kao ključne problem I ograničenja prepoznajem sljedeće. Region Nedovoljno razvijena saobraćajna i komunalna infrastruktura Nesklad između obrazovnog sistema i tržišta rada Crna Gora Ograničen i nepovoljan pristup finansijskim sredstvima Visoka nelikvidnost i nemogućnost naplate potraživanja Visok procenat sive ekonomije i nelojalna konkurencija Sada se postavlja pitanje šta dalje. Moramo mnogo toga učiniti da bi region postao konkurentniji i produktivniji. Mislim da posebno treba: Nastaviti strukturne reforme Tržište rada osloboditi teške regulacije koja ograničava kreiranje novih radnih mjesta. Reformisati obrazovne sisteme i upodobiti ih potrebama tržišta, akcentirajući vještine i inovativnost Naš napredak zavisi od povoljnijeg ambijenta za nova mala i srednja preduzeća. Međunarodni indikatori, bez obzira na izvjesni napredak, pokazuju da još ima prostora za kreiranje daleko boljih uslova za biznis Poboljšati transportnu infrastrukturu i funkcionisanje regionalnog energetskog tržišta Zaključio bih mišljenjem da je napredak moguć uz podršku EU, kroz EU fondove, kao i objedinjavanje regiona kao investicione oblasti. The economic crisis, after years of highly dynamic economic growth, has slowed down and obstructed the progress of the Balkan countries. Montenegro is no excuse to this. According to the indicators, Montenegrin economy in 2013 achieved the real growth of 2.6% and the forecasts for 2014 indicate that the GDP growth will be 3.6%. According to the Global Competitiveness Index for 2014/2015, Montenegro has been ranked as 67th out of 144 countries. In comparison to the neighboring countries, Macedonia is the only better ranked country 63rd place. Slovenia is on the 70th place, Croatia - 77th and Serbia 94th. Despite the relatively favorable data which indicate the capacity of national economies to provide the growth of the productivity factor and the well-being of their citizens, Montenegrin foreign trade results, which have been negative in the recent twenty years, indicate that there is a huge space for the improvement of the competitiveness level of domestic economy. In the past year, only one-fifth of import was covered with export. Such results in the foreign trade are partly alleviated by the income from services. I recognize the following key problems and limitations: Region Inadequately developed transport and utility infrastructure Disparity between the education system and labor market Montenegro Limited and unfavourable access to financial means High insovency and difficulties with the overdue claims High percentage of grey economy and unfair competition The question is what we should do now. We have to do many things to make the region more competitive and productive. I think that we should in particular: Continue with the structural reforms Liberate the labor market of difficult regulations which limit the creation of new jobs. Reform the education systems and adapt them to the market needs, emphasizing skills and innovation Our progress depends on the more favorable climate for small and medium sized enterprises. International indicators, regardless of a certain progress, show there is still space for the creation of far better conditions for business Improve transport infrastructure and functioning of the regional energy market I would conclude by saying that the progress is possible with the EU support, through EU funds, as well as through the consolidation of the market as an investment area. 56 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

57 CONFERENCE PROCEEDINGS Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 57

58 ZBORNIK KONFERENCIJE Panel: POLJOPRIVREDA KAO KLJUČNI NOSILAC SOCIJALNOG I EKONOMSKOG RAZVOJA JUGOISTOČNE EVROPE Moderator: Jasmin Valjevac Regionalni projekt menadžer, GIZ, Alumni - Program pomoći Njemačke zemljama Zapadnog Balkana Panelisti: Dragana Đurica Ekspert za integrisani rast, Savjet za regionalnu saradnju Christian Gaisböck Regionalni direktor, KWS Mais Đorđije Goranović Emilija Stefanović Lidija Rmuš Izvršni direktor i vlasnik, MI Goranović Izvršni direktor, Fond za podršku investicija u Vojvodini - VIP Sekretar odbora poljoprivrede, Privredna komora Crne Gore 58 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

59 CONFERENCE PROCEEDINGS Panel: AGRICULTURE AS KEY DRIVER FOR SOCIAL AND ECONOMIC DEVELOPMENT IN SOUTH EASTERN EUROPE Moderation: Jasmin Valjevac Regional Project Manager, GIZ, Alumnus - Internship Program of German Business for the Countries of the Western Balkans Panelists: Dragana Djurica Expert on Integrated Growth, Regional Cooperation Council Christian Gaisböck Regional director, KWS Mais Djordjije Goranovic CEO and owner, MI Goranović Emilija Stefanovic Lidija Rmus CEO, Vojvodina Investment Promotion - VIP Secretary of Agriculture Board, Chamber of Economy of Montenegro Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 59

60 ZBORNIK KONFERENCIJE Da bi se poljoprivredni proizvođači zemalja regiona pripremili za ozbiljnu tržišnu utakmicu neophodni su konkurentniji proizvodi, kombinovani izvori finansiranja, edukacija kadra i regionalna saradnja, ocijenjeno je na panelu Poljoprivreda kao ključni nosilac socijalnog i ekonomskog razvoja Jugoistočne Evrope. Moderirao je Jasmin Valjevac, regionalni projekt menadžer GIZ, Alumni - Program pomoći Njemačke zemljama Zapadnog Balkana. Izvršni direktor i vlasnik Mesne industrije Goranović Đorđije Goranović podsjetio je da su države i stanovništvo u regionu veoma zaduženi, zbog čega bi u narednom periodu trebalo obezbijediti kombinovane izvore finansiranja i grantove. - Ukoliko ne obezbijedimo povoljne izvore finansiranja, veliki broj malih i srednjih preduzeća iz sektora agroindustrije će se naći pred bankrotom - rekao je Goranović na konferenciji u Budvi. On je kazao da je za obezbjeđenje veće konkurentnosti poljoprivrednih proizvoda neophodan dinamičan investicioni ciklus. Sekretar odbora poljoprivrede Privredne komore Crne Gore Lidija Rmuš je navela da je u posljednoj dekadi evidentan razvoj sektora hrane, ne samo u kvantitativnom veći u kvalitativnom smislu. No, i pored razvoja sektora, najveći problem sa kojima se suočava agrar regiona je upravo nedovoljna konkurentnost proizvoda, pa se proizvođačima postavljaju sve veći zahtjevi, kako po pitanju kvaliteta tako i cijena. Zato ovom sektoru predstoje značajne aktivnosti radi povećanja konkurentnosti kroz snižavanje troškova, boljeg korišćenja prirodnih resursa, podizanja kvaliteta proizvoda, primjene savremnih tehnologija, udruživanja proizvođača u cilju objedinjavanja ponude, edukacije proizvođača i kvalitetnijeg marketinškog nastupa. Sve to naravno zahtijeva značajna finasijska sredstva koja su teško dosupna. Kvalitetnije izvore finansiranja treba tražiti kroz strana ulaganja, povećanje sredstava Agrobudžeta, kroz korišćenje IPARD-a. Dodatno, problem predstavlja i naplata potraživanja, kako sa aspekta ročnosti tako i sigurnosti zbog neadekvatnih zakonskih riješenja. Ovo je problem koji utiče na poslovanje svih privrednih subjekata, ali najviše na proizvođače hrane koji proizvode moraju plasirati u kratkim rokovima. I pored toga možemo reći da je ovaj sektor pokazao svoju održivost u prethodnim kriznim godinama jer su subjekti koji se bave proizvodnjom hrane uspjeli da opstanu za razliku od mnogih drugih. Ona je takođe istakla da Privredna komora pomaže razvoj ovog sektora putem organizacije značajnog broja edukacija, seminara, zajedničkih nastupa na sajmovima, aktivnog učešća stejkholdera u javnim raspravama prilikom donošenja zakona, uključivanju privrednika u projekte koje vodi u ovoj oblasti kao što su Čistija proizvodnja, Welfood, Next projekat, te stalna komunikacija sa Vladom u rješavanju njihovih aktuelnih problema. In order to get prepared for a serious market competition, the farmers need more competitive products, combined sources of financing, education of staff and regional cooperation this has been said at the panel Agriculture as the Key Holder of Social and Economic Development of South-East Europe. The moderator at the panel was Jasmin Valjevac, Regional Project Manager, GIZ, Alumni - German Assistance Program to the Western Balkans. The Executive Manager and owner of the Meat Industry Goranovic, Djordjije Goranovic, has reminded that the states and the population in the region are highly indebted and that is why combined sources of financing and grants should be provided in the next period. - If we do not secure favorable sources of financing, a high number of small and medium sized enterprises from the agro-industry sector will face bankruptcy Mr Goranovic has said at the conference in Budva. He has said that the provision of higher competitiveness of agricultural products requires a necessary investment cycle. The secretary of the Board for Agriculture of the Chamber of Economy of Montenegro, Lidija Rmus, has stated that in the past decade the food sector achieved a notable development, not only in the quantitative but also qualitative sense. However, despite the development of the sector, inadequate competitiveness of products has been the biggest problem faced by the agro-region. Therefore, the producers now encounter growing demands when it comes both to quality and prices. In that respect, this sector needs to undertake significant activities in order to raise the level of competitiveness through the reduction of costs, better use of natural resources, raising the quality of products, implementation of modern technologies, association of producers in order to round up the offer, education of producers and a quality marketing approach. Of course, all this requires significant financial means which are not easily available. The quality sources of financing need to be sought through foreign investments and the increase of funds from the Agro-budget through the use of IPARD. Additionally, there is a problem of the payment of outstanding claims, both regarding the respect of deadlines and the security pertaining to inadequate legal solutions. This is the problem which affects the operations of all economic agents, primarily the food producers who face short-term deadlines to place their products. Despite the above mentioned problems, we can say that this sector exhibited its»sustainability«in the previous years of crisis because the companies engaged in food production managed to survive unlike many other companies. She has also emphasized that the Chamber of Economy helps the development of this sector through the organization of a significant number of education activities, seminars, joint participation at the fairs, activie participation of stakeholders at public discussions related to the adoption of laws, involvement of entrepreneurs in the projects such as: cleaner production, Welfood, Next Project, as well as a continuous 60 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

61 CONFERENCE PROCEEDINGS Regionalni direktor KWS Mais Christian Gaisbock smatra da je region napravio veliki ekonomski napredak u proteklih par godina, ali bi trebalo uložiti napore da se taj pozitivan trend nastavi. - Mnogi možda nijesu zadovoljni ostvarenim napretkom, ali ja bih ovu situaciju uporedio sa Njemačkom prije ujedinjenja, kada se na tom prostoru vidio potencijal - kazao je Gaisbock. On je dodao da je neophodno naći način da se zemlje regiona izbore sa korupcijom, kako bi se obezbijedili jednaki i pravični uslovi na tržištu za sve, ali bi trebalo raditi i na edukaciji kadra. - Lako je naći radnike, ali ne i stručnjake i specijaliste - naveo je Gaisbock. Izvršni direktor Fonda za podršku investicija u Vojvodini Emilija Stefanović saopštila je da bi agencije za privlačenje stranih investicija trebalo da doprinesu pripremanju zemalja regiona za budućnost i dolazak budućih investitora. - One treba da doprinesu da se animiraju investitori da dođu i zadrže u regionu. Zadatak agencija je i da im pomognemo da što brže, jednostavnije i lakše prođu kroz administrativne procedure - rekla je Stefanović. Ekspert za integrisani rast u Savjetu za regionalnu saradnju Dragana Đurica kazala je da su proizvodnja hrane i pića jedan od prioritetnih sektora, a da je naveća prepreka razvoju poljoprivrede regiona nedovoljno obučen kadar. Ona je navela da su države regiona od početka svjetske ekonomske krize godine izgubile 800 hiljada radnih mjesta i suočile se s gotovo identičnim problemima. Đurica je podsjetila da je Savjet za regionalnu saradnju prije dvije godine dobio mandat za izradu Strategije ekonomskog rasta Evropa 2020, koja je usklađena sa potrebama regiona i odnosi se, između ostalog, na trgovinu, investicije, konkurentnost, saradnju i obrazovanje. communication with the government on the solution of their ongoing problems. The Regional Manager of KWS, Mais Christian Gaisbock, believes that this region has made a big economic progress in the recent couple of years but that efforts should be made to continue with this positive trend. - There are many persons who are not satisfied with the achieved progress but I would compare this situation with Germany before the reunification, when this area had had a notable potential Mr Gaisbock has said. He has added that the regional countries need to find a way to fight corruption and secure equal and fair conditions at the market for all palyers. They should also work on the education of staff. - It is easy to find the employees but not experts and specialists - Mr Gaisbock has stated. The Executive Director of Vojvodina Investment Promotion, Emilija Stefanovic, has stated that the agencies for the attraction of foreign investments should contribute to the preparation of the regional countries for the future and the arrival of future investors. - They should motivate investors to come and stay in the region. The task of the agencies is to help them go faster, simpler and easier through administrative procedures Ms Stefanovic has said. The expert for integrated growth at the Council for Regional Cooperation, Dragana Djurica, has said that the production of food and beverages is one of the priority sectors and that the biggest obstacle for development of agriculture in the region is insufficiently trained staff. She has stated that, since the beginning of the world economic crisis in 2008, the regional states have lost 800,000 jobs and faced almost identical problems. Ms Djurica has reminded that two years ago the Council for Regional Cooperation received the mandate for the creation of the Strategy of Economic Growth Europe 2020, which was adapted to the needs of the region and which, among other things, referred to: trade, investments, competitiveness, cooperation and education. Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 61

62 ZBORNIK KONFERENCIJE 62 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

63 CONFERENCE PROCEEDINGS Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 63

64 ZBORNIK KONFERENCIJE Panel: KOMUNALNA INFRASTRUKTURA FOKUS NA TRETMAN VODA I OTPADNIH VODA Moderator: Helge Tolksdorf Šef odjeljenja za EU proširenje za Jugoistočnu Evropu i Tursku, Generalni direktorat za evropsku politiku, Njemačko savezno ministarstvo za privredu i energiju Panelisti: Günter Faust Filip Makrid Siniša Stanković Srđan Sušić Izvršni direktor, WTE otpadne vode Budva Tehnički direktor, Vodovod i kanalizacija Podgorica Generalni direktor Direktorata za upravljanje otpadom i komunalni razvoj, Ministarstvo održivog razvoja i turizma, Vlada Crne Viši stručni saradnik za lokalnu upravu, Regionalni centar za zaštitu životne sredine Hermann J. Plumm Direktor programa reforme sektora voda, GIZ Tirana 64 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

65 CONFERENCE PROCEEDINGS Panel: MUNICIPAL INFRASTRUCTURE FOCUS ON WATER AND WASTE WATER TREATMENT Moderation: Helge Tolksdorf Head of the Division for EU Enlargement, Southeast Europe and Turkey, Directorate-General for European Policy, German Federal Ministry for Economic Affairs and Energy Panelists: Günter Faust Filip Makrid Sinisa Stankovic Srdjan Susic CEO, WTE otpadne vode Budva Technical Director, Podgorica Water and Sewage Corporation General Director of Directorate for waste treatment and comunal development, Ministry of Sustainable Development and Tourism, Government of Montenegro Senior Expert for Local Governance, Regional Environmental Centre for Central and Eastern Europe Hermann J. Plumm Programme Director, Water Sector Reform Albania, GIZ Tirana Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 65

66 ZBORNIK KONFERENCIJE Uspješna je crnogorska priča kada je riječ o snabdijevanju vodom i tretmanu otpadnih voda, imajući u vidu napredak ostvaren od početka vijeka, ocijenjeno je na panelu o komunalnoj infrastrukturi kojim je moderirao Helge Tolksdorf, iz Saveznog ministarstva za privredu i energiju Njemačke. Generalni direktor Direktorata za upravljanje otpadom i komunalni razvoj Ministarstva održivog razvoja i turizma Siniša Stanković govorio je o značajnim projektima iz ove oblasti realizovanim u Crnoj Gori od godine do sada i saradnji sa međunarodnim institucijama, među kojima je posebno istakao njemačku razvojnu banku KFW. - U Crnoj Gori smo otvorili sve frontove za rješavanje problema vodosnabdijevanja i upravljanja otpadnim vodama. Rezultat je čist Bokokotorski zaliv. Primorske opštine će, najdalje do kraja godine, u more ispuštati potpuno prečišćenu vodu rekao je Stanković. Naveo je i da je na primorju urađeno 120 kilometara kanalizacione mreže, i osvrnuo se na izgrađena i planirana postrojenja za tretman otpadnih voda. Izvršni direktor WTE otpadne vode Budva Günter Faust, predstavio je tu kompaniju koja je podigla postrojenje za tretman otpadnih voda u prijestonici crnogorskog turizma. - Narednih mjeseci ćemo početi da radimo postrojenje u Petrovcu, završićemo, nadam se, za oko godinu, čime će to mjesto takođe dobiti prečišćene otpadne vode rekao je Faust, navodeći da su u toku projekti i u Kotoru, te u Tivtu. Tehnički direktor JP Vodovod i kanalizacija Podgorica Filip Makrid ocijenio je da je i za glavni grad najveći izazov rješavanje pitanja otpadnih voda. - To je za nas najveći problem jer postoji rizik zagađenja životne sredine i podzemnih voda. Danas smo vrlo blizu rješavanja ovog pitanja. Izgradnja novog postrojenja za tretman otpadnih voda kod Kombinata aluminijuma i mreže primarnih kolektora vrijedna je 55 miliona eura. Postrojenje, koje će biti povezano sa postojećim, mora da bude što više energetski efikasno i samoodrživo rekao je Makrid. Hermann J. Plumm, direktor programa reforme sektora voda, GIZ Tirana, ocijenio je da su za pristupanje EU posebno kritična pitanja u vezi sa vodama jer je potrebno zadovoljiti stroge kriterijume u tom sektoru. - Jedinice lokalne samouprave moraju obezbijediti upravljanje otpadnim vodama po evropskim standardima kazao je Plumm. Poredeći Crnu Goru sa regionom, on je kazao da je naša zemlja više uradila na rješavanju ovog pitanja od Makedonije ili Kosova. - Tržište voda je najveće na globalnom nivou, nakon energetskog. Zato su u ovom poslu koji generiše milijarde eura postrojenja za prečišćavanje otpadnih voda neophodna zaključio je on. Srđan Sušić je predstavio aktivnosti Regionalnog centra za zaštitu životne sredine koji je tokom posljednjih pet godina With respect to water supply and waste water treatment, Montenegro has achieved success if we take into account the progress achieved from the start of the century - these are the conclusions of the panel on utility infrastructure moderated by Helge Tolksdorf from the Federal Ministry of Economic Affairs and Energy of Germany. The General Director of the Directorate for Waste Treatment and Utility Infrastructure Development at the Ministry of Sustainable Development and Tourism, Sinisa Stankovic, has spoken about significant projects in this area realized in Montenegro as of 2000 in cooperation with international institutions, specifically singling out German development bank, KFW. - We have opened all fronts for the solution of water supply and waste water management issues. As a result, we have a clean Bay of Boka Kotorska. In addition, by 2019 at the latest, the coastal municipalities will discharge fully treated water in the sea Mr Stankovic has said. He has stated that 120 km of sewerage networks have been constructed at the coast. Also, he has given an overview of the constructed and planned waste water treatment plants. The executive manager of WTE Budva, Günter Faust, has presented this company which has constructed the waste water treatment plant in Budva. - We will start the construction of the waste water plant in Petrovac. We hope to finish it in about a year. This way, this town will also have treated waste water Mr Faust has said, adding that there are ongoing similar projects in Kotor and Tivat. The technical director of the Water Company Podgorica, Filip Makrid, has stated that the issue of waste water treatment presents the main challenge for the Montenegrin capital. - This is our biggest problem because there is a risk of the pollution of the environment and subterranean waters. Today we are very close to the solution of this problem. The construction of the new waste water treatment plant near the Aluminium Factory and the network of primary collectors are worth 55 million EUR. The plant, which will be connected with the current one, has to be energy efficient and self-sustainable to the highest extent Mr Makrid has said. Hermann J. Plumm, the manager of the water sector reforms program, GIZ Tirana, has estimated that EU sees the water issues as specifically problematic with respect to the EU accession because we need to satisfiy the EU criteria in this sector. The local autority units must provide waste water treatment management in line with the European standards Mr Plumm has said. Comparing Montenegro with the region, he has said that our country has done more on the solution of this issue than Macedonia or Kosovo. - The water market is the second biggest market, globally, after the energy market. That is why the waste water treat- 66 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

67 CONFERENCE PROCEEDINGS uspješno sarađivao sa više od 300 lokalnih samouprava i doprinio investiranju više miliona eura. On je istakao da je za rješavanje lokalnih komunalnih problema ključno planiranje. - Bitno je da plan unapređenja zaštite životne sredine na lokalnom nivou bude uspješan i da privuče investitore rekao je Sušić. ment plants are a requirement in this business which generates billions of Euros he has concluded. Srdjan Susic has presented the activities of the Regional Environmental Center which has had successful cooperation in the recent five years with more than 300 local self-governments and contributed to the investment of several million euros. He has emphasized that for the solution of local utility issues, the key factor is planning. It is important that the local environmental protection plan is successful and that it attracts investors Mr Susic has said. Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 67

68 ZBORNIK KONFERENCIJE 68 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

69 CONFERENCE PROCEEDINGS Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 69

70 ZBORNIK KONFERENCIJE Panel: TURIZAM Moderator: Anja Quiring Regionalni direktor za Jugoistočnu Evropu, Istočni odbor njemačke privrede Panelisti: Dragan Ivančević Ihab Kamel Predsjednik Odbora Udruženja turizma i ugostiteljstva, Privredna komora Crne Gore Izvršni direktor, Luštica Development Gordana Plamenac Direktor, Turistička organizacija Srbije Julinda Dhame Milo Sršen Shovket Hazari Direktor, Nacionalna turistička agencija Albanije Savjetnik direktora, Hrvatska turistička zajednica Državni savjetnik za turizam, Ministarstvo ekonomije, Vlada BJR Makedonije 70 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

71 CONFERENCE PROCEEDINGS Panel: TOURISM Moderation: Anja Quiring Regional Director for South East Europe, Committee on Eastern European Economic Relations Panelists: Dragan Ivancevic Ihab Kamel President of the Board of Tourism and hospitality Association, Chamber of Economy of Montenegro CEO, Luštica Development Gordana Plamenac Director, Tourism Organization of Serbia Julinda Dhame Milo Srsen Shovket Hazari Director, National Tourism Agency of Albania Advisor to the Director, Croatian National Tourist Board State Advisor for Tourism, Ministry of Economy, Government of the FYR Macedonia Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 71

72 ZBORNIK KONFERENCIJE Regionalnu saradnju u oblasti turizma u regionu moguće je unaprijediti zajedničkim nastupima i promocijama na trećim tržištima, afirmisanjem zajedničkog proizvoda i organizovanjem izletničkih tura, rečeno je na panelu o turizmu Konferencije Ekonomija osnov povezivanja zapadnog Balkana. Savjetnik direktora u Hrvatskoj turističkoj zajednici Milo Sršen rekao je da je neophodno organizovati zajedničke nastupe na trećim tržištima, radionice i studijska putovanja novinara. - Neophodno je uraditi opšte brošure pojedinih država i gradova, jer je to osnov svega - kazao je Sršen i dodao da bi regionalnoj saradnji, pored privrednih komora, mogle da doprinesu i udruženja putničkih agencija. On procjenjuje da Crna Gora raspolaže sa dovoljno kapaciteta i kvalitetom ponude koji joj mogu omogućiti da ima dužu ljetnju turističku sezonu. Sršen navodi da sezona u Hrvatskoj sada traje od aprila do polovine oktobra. Mišljenja je da su u tome uspjeli velikim pojedinačnim angažovanjem lokalnih turističkih organizacija, naglašavajući da oglašavanje ukupne ponude ipak ne ardi svako za sebe, već se to radi pod okriljem Hrvatske turističke zajednice. Hrvatska, kako je dodao, ima više ciljeva koje želi da realizuje u narednom periodu, a koji podrazumijevaju rast broja turističkih dolazaka za milion u periodu pred i postsezone, podizanje potrošnje turista od 15 odsto i jačanje brenda za 50 odsto. Budući da imamo plan da u pred i postsezoni povećamo broj dolazaka za milion (sada je to na nivou 12,5) potrebne su određene subvencije od Vlade, usmjerene po pojedinim županijama. Prema najavama, podrška ovog tipa neće izostati, budući da je apsolutno opravdana. Direktor Turističke organizacije Srbije Gordana Plamenac smatra da je unaprijeđenje regionalne saradnje u oblasti turizma neophodna, ali da tu ima više retorike i lijepih želja, nego stvarnih i konkretnih poteza. - Zajednička saradanja može da znači zajedničku promociju na trećim tržištima, ali bi bolje bilo da tržištu ponudimo zajednički proizvod - kazala je Plamenac. Ona je dodala da Srbiju nije bilo lako promovisati, s obzirom na nasljeđe negativnog političkog marketinga, neadekvatnu infrastrukturu i neprofilisan proizvod. Turistička organizacije Srbije nema predstavništva u inostranstvu, a i prirodni potencijali ove zemlje su drugačiji u odnosu na druge zemlje Regiona, morali smo pribjeći plasiranju drugačijih vidova ponude. To za rezultat ima, gledano pet godina unazad, dvocifren rast turista. Ona smatra da je kampanja pod nazivom Soul food Serbia uradila mnogo na promociji države koja je predstavljena kroz pojedine prehrambene proizvode sa geografskim identitetom. - To je uspjeh koji će nam pomoći u narednim godinama - Regional cooperation in the area of tourism can be improved through joint appearance and promotion at the third markets, promotion of the joint product and organization of excursion tours this has been stated at the tourism panel of the conference Economy the Basis for Connecting the Western Balkan Regions. The Assistant Director at Croatian National Tourist Board, Milo Srsen, has said that it is necessary to organize joint appearances at third markets, workshops and study tours for journalists. - It is necessary to make general brochures of the respective states and cities because this is the basis for everything Mr Srsen has said adding that not only chambers of economy but also travel agencies could contribute to regional cooperation. He has estimated that Montenegrin capacities are suffient and its offer is of good quality, which means that Montenegro satisfies the conditions for a longer summer tourist season. Mr Srsen has stated that the season in Croatia now lasts from April to mid October. He believes that this is the result of the big individual engagement of local tourist organizations, emphasizing that the promotion of the overall tourism offer is not done individually but under the auspices of the Croatian National Tourist Board. As he has added, Croatia has more objectives which could be realized in the next period and which include the increase in the number of arrivals for one million in the pre and post season, increase of the tourist consumption of 15 per cent and strengthening of the brand for 50 per cent. Given the fact that we plan to increase the number of arrivals in the pre and post season for one million (now it is on the level of 12.5), we need the grants from the Government allocated by regions. According to the announcements, being fully justified, the support of this type has been secured. The Manager of the Tourist Organization of Serbia, Gordana Plamenac, believes in the necessity of the improved regional cooperation in the area of tourism. However, she also thinks that it contains more rhetoric and nice wishes than real and concrete activities. - Joint investments can mean joint promotion at third markets but it would be better if we offered a joint product at the market Ms Plamenac has said. She has added that it is not easy to promote Serbia given its heritage of negative political marketing, inadequate infrastructure and a poorly profiled product. The Tourist Organization of Serbia does not have offices abroad. In addition, natural resources of this country differ from those in the regional countries so we had to opt for the placement of different types of offers. This has resulted in a two-digit rise of the number of tourists. She believes that the campaign Soul Food Serbia has done a lot on the promotion of the state, which has been presented through certain food products with geographic origin. 72 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

73 CONFERENCE PROCEEDINGS kazala je Plamenac i dodala da bi Srbija trebalo da radi na unaprijeđenju kongresnog turizma, veoma značajnog za destinacije koje nemaju more. Predsjednik Odbora turizma i ugostiteljstva Privredne komore Crne Gore Dragan Ivančević smatra da bi zemlje regiona trebalo da afirmišu izletnički turizam, ali i takozvani dvocentar ili trocentar, odnosno ponudu za strane turiste koji bi u okviru jednog aranžmana boravio u dvije ili tri zemlje. - U ovom regionu turizam je kvarljiva roba, jer je on nestabilan. Sada imamo zadatak da turizam vratimo na njegovo mjesto, rekao je Ivančević. On je dodao da ni jedan turistički kapacitet ne može da funkcioniše sam, jer zavisi od kvaliteta i stabilnosti turističke destinacije. Ozbiljan problem Crne Gore je, kako je naveo, nedostatak velikih hotelskih kapaciteta, većeg nivoa komunalne opremljenosti i kvaliteta usluga. - Saobraćajna dostupnost je veoma važna, zbog čega je neophodno uspostaviti bolju aviokonekciju. Crna Gora ima preduslove za razvoj kongresnog, zdravstvenog i sportskog turizma, a trebalo bi i da formira nacionalnog turoperatora i ponudi tržištu objedinjenu ponudu - kazao je Ivančević. Generalni direktor Nacionalne turističke agencije Albanije Julinda Dhame saopštila je da region zapadnog Balkana ima potencijala da postane jedna od najznačajnijih turističkih destinacija. - Moramo raditi na promociji i razvijati regionalnu saradnju, kroz jačanje postojećih veza u oblasti turizma - rekla je Dhame. Državni sekretar za turizam u Ministarstvu ekonomije Makedonije Shovket Hazari naveo je da ta zemlja ranije nije bila poznata turistička destinacija, ali da to sada nije slučaj. - Shvatili smo da moramo biti prisutni u svim relevantnim evropskim i svjetskim medijima, kako bi se promovisali, pa smo godine osnovali agenciju i dovodimo turoperatore - saopštio je Hazari. U okviru panela organizovana je i prezentacija kompanije Orascom Development, koja u Crnoj Gori realizuje projekat pod nazivom Luštica Bay. Ta kompanija ima 28 hotela, koji se nalaze u Egiptu, Jordanu, Omanu, Švajcarskoj i Crnoj Gori. - U Crnoj Gori planiramo gradnju sedam hotela i hiljadu apartmana, što podrazumijeva i otvaranje novih radnih mjesta - kazali su iz Orascoma. - This is the success which will help us in the next years Ms Plamenac has said and added that Serbia should work on the improvement of congress tourism, which is of great importance for those destinations which have no sea. The President of the Board for Tourism and Hospitality of the Chamber of Economy of Montenegro, Dragan Ivancevic, believes that the regional countries should promote excursion tourism but also the so-called»two-center«or»three-center«packages for foreign tourists who would visit two or three countries in one go. - In this region tourism is a perishable commodity because it is unstable. Now we have a task to bring back tourism in its right place«, Mr Ivancevic has said. He has added that no tourism capacity can function on its own because it depends on the quality and stability of the tourist destination. As he has said, Montenegro has a serious problem with the lack of big hotel capacities, higher level of utility infrastructure and the quality of services. - The transport availability is very important and that is why it is important to achieve a better air connection. Montenegro has preconditions for the development of congress, health and sport tourism. In addition, we should establish the national tour operator and offer to the market a rounded-up offer Mr Ivancevic has said. The general manager of the National Tourism Agency of Albania, Julinda Dhame has stated that the Western Balkan region has a potential to become one of the most significant tourist destinations. - We have to work on the promotion and development of a regional cooperation through the strengthening of the current ties in the area of tourism Ms Dhame has said. The State Secreatry for Tourism at the Ministry of Economy of Macedonia, Shovket Hazari, has stated that this country did not use to be a famous tourist destination but that the things have changed in the meantime. - We have realized that we have to be present in all relevant European and world media and that we have to promote ourselves. In that respect, in 2008 we established an agency and now we bring tour operators - Mr Hazari has said. As part of the panel, there was also a presentation of the company Orascom Development, which realizes the project Lustica Bay in Montenegro. This company has 28 hotels in: Egypt, Jordan, Oman, Switzerland and Montenegro. - We plan to contruct seven hotels and one thousand apartments in Montenegro, which means the opening of new jobs Orascom representatives have said. Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 73

74 ZBORNIK KONFERENCIJE 74 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

75 CONFERENCE PROCEEDINGS Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 75

76 ZBORNIK KONFERENCIJE Panel: ENERGIJA Moderator: Dragan Mijajlović Izvršni direktor, Crnogorski operator tržišta električnom energijom Panelisti: Dean Gnjidić Dragan Laketić Marin Zovko Myriam Dobrota TE Plomin, RWE Hrvatska Predsjednik Odbora direktora, Crnogorski elektroprenosni sistem Predsjednik Odbora direktora, Plinacro Direktor, REECO SRB Miodrag Jelisavčić Direktor, ALSTOM Srbija, ALSTOM Power Romania, Bulgaria and Moldavia 76 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

77 CONFERENCE PROCEEDINGS Panel: ENERGY Moderation: Dragan Mijajlovic CEO, Montenegrian operator of energy market Panelists Dean Gnjidic Dragan Laketic Marin Zovko Myriam Dobrota TE Plomin, RWE Croatia President of the Board of Directors, Montenegrin Electro transmission system President of the Board of Directors, Plinacro Director, REECO SRB Miodrag Jelisavcic Director, ALSTOM Serbia, ALSTOM Power Romania, Bulgaria and Moldavia Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 77

78 ZBORNIK KONFERENCIJE Države regiona su, kada je riječ o prenosu električne energije, dobro povezane, ali postoji ogroman prostor za nove investicije i dalji razvoj te oblasti, ocijenjeno na panelu o energiji u okviru Konferencije Ekonomija osnov povezivanja zapadnog Balkana, kojim je moderirao Dragan Mijajlović, izvršni direktor Crnogorskog operatora energetskog tržišta. On je ocijenio da integracioni procesi u regionu treba da ujedine i resurse kojim države raspolažu. - Imamo resurse i potencijal, a od EU očekujemo znanje, tehnologiju i kapital kazao je Mijajlović. Direktor Alstoma Srbija Miodrag Jelisavčić ocijenio je da u cijelom okruženju postoji prostor za investicije, kao i stvari koje treba optimizovati i pomoći investitorima, ali i stvoriti pravni okvir koji će omogućiti svima da vide dobrobit. - Energetika ima prostora za dalji razvoj, pri čemu će omogućiti drugim granama privrede da napreduju, što će pomoći dalji razvoj ove regije - kazao je Jelisavčić na panelu o energiji. Prema njegovim riječima, energetika, odnosno elektroenergetika pomaže privredi niskim cijenama, što je dvosjekli mač, pošto imaju usporene investicije u energetici baš zbog takvih cijena. - Imamo zajednički imenitelj da zemlje zapadnog Balkana potiču iz sistema bivše Jugoslavije i vremena prije regulacije. Prije 30 godina, sistem je dosta dobro planiran, jer postoji dobra povezanost, mogućnost saradnje je otvorena, ali postoji ogroman prostor da se prave novi kapaciteti - smatra Jelisavčić. Predsjednik Odbora direktora Crnogorskog elektroprenosnog sistema Dragan Laketić ocijenio je da su i Crna Gora i Balkan iskoračili prema Evropi kada je u pitanju oblast energetike. On je kazao da se na skupu ranije čulo da su najlošije putne infrastrukture preko granica, ali da toga, srećom, nema sa električnom energijom. - U tom smislu smo na dobrom putu da imamo dobru povezanost, upućeni smo jedni na druge, tehnika funkcionisanja je takva da moramo imati zajedničke razvojne planove, a sve u cilju da naši korisnici imaju što pouzdanije i sigurnije garanciju isporuke električne energije - rekao je Laketić. Pored tih aktivnosti, mora se, kako je dodao, jačati i unutrašnja mreža, svi korisnici prenosne mreže imaju jednaku dostupnost, pri čemu se trude da je jednako razvijaju i na sjeveru i na jugu. Predsjednik Odbora direktora kompanije Plinacro Marin Zovko kazao je da je projekat Jadransko-jonski gasovod (IAP) bitan za Hrvatsku ali i za Albaniju, Crnu Goru i Bosnu i Hercegovinu. - IAP uvodi gas u regiju, odnosno omogućava gasifikaciju Albanije, Crne Gore i velikog dijela Bosne i Hercegovine. Naši partneri u tom projektu, Hrvatske, BiH i Crne Gore razvijaju projekat od godine - rekao je Zovko. When it comes to the transmission of electricity, regional countries are well interconnected but there is huge space for new investments and further development in this area this is the conclusion of the energy panel at the Conference Economy the Basis for Connecting the Western Balkan Regions, moderated by Dragan Mijajlovic, executive manager of the Montenegrin energy market operator. He has estimated that the integration processes in the region need to unite the countries resources. - We have the resources and the potential, while from the EU we expect knowledge, technology and capital Mr Mijajlovic has said. The manager of Alstom Serbia, Miodrag Jelisavcic, has estimated that the regional countries have space for investments. However, there is also a need to optimize some things and provide assistance to investors but also create the legal framework which would enable everyone to see the benefits of this action. - Energy sector has space for further development and it will enable other branches of industry to achieve progress, which will help further development of this region Mr Jelisavcic has said at the energy panel. According to him, energy sector, i.e. electricity sector, helps the industry with low prices, which is a two-edged sword because these prices slow down investments in the energy sector. - We have one thing in common that the Western Balkan countries belonged to the same system of ex-yugoslavia at the pre-regulation period. Thirty years ago the system was quite well planned because there was a good interconnection among these countries, as well as an open possibility for cooperation and a huge space to create new capacities Mr Jelisavcic has said. The President of the Board of Directors of the Montenegrin Transmission System, Dragan Laketic, has estimated that Montenegro and the Balkans have stepped forward towards Europe when it comes to their energy sector. He has said that in this meeting it has been said that the worst road infrastructure has been across the borders but that, fortunately, this is not the case with the electricity. - In that respect we are on a good road to achieve good connectivity. We have to cooperate. The way the things function is such that we must have joint development plans so that our customers have more reliable and safe guarantees of electricity supply Mr Laketic has said. As he has added, apart from these activities, internal network also needs to be strengthened so that all network consumers must be equally available. The President of the Board of Directors of the company Plinacro, Marin Zovko, has said that the project Adriatic Ionian Pipeline (IAP) is important for Croatia but also for Albania, Montenegro and Bosnia and Herzegovina. 78 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

79 CONFERENCE PROCEEDINGS Takođe, Evropa je, kako je dodao, prepoznala njegovu važnost, pri čemu je izdvojila 3,5 miliona EUR za studije izvodljivosti uticaja na okolinu i sve druge komponente za zemlje uključene u projekat. - Sada predstoji nastavak rada na ovom projektu u budućnosti - rekao je Zovko. Direktorica REECO SRB Myriam Dobrota kazala je da je doprinos te kompanije, koja je prvi kontakt sa zapadnim Balkanom ostvarila godine, da analiziraju sve zemlje u kojima rade i sagledavaju pravi potencijal za investitore. - Nije sve u tome da se investitori pozovu u zemlje zapadnog Balkana da im se pokažu mogućnosti. Bilo je vrijeme velike ekspanzije u oblasti obnovljivih izvora, ali na kraju te groznice došlo je do zastoja, jer se nije znalo kakve će posljedice to imati na države regiona - podsjetila je Dobrota. Prema njenim riječima, moraju se definisati pravila i odrediti jasni kratkoročni i dugoročni ciljevi. - Prije nego počnemo da poslujemo negdje obavimo razgovore sa nadležnim insistucijama da vidimo koji se to projekti zaista mogu realizovati - navela je Dobrota. Ona je rekla da se ne radi samo o obnovljivoj energiji, zato što nje nema bez energetske efikasnosti. - To ne znači samo gradnju nego i puno toga dodatnog, to je osnova za obnovljivu energiju - dodala je Dobrota. Predstavnik kompanije RWE iz Hrvatske Dean Gnjidić ocijenio je da su svi svjesni značaja koje imaju hidropotencijali. - Ali treba biti svjestan same regulative, njene transparentnosti i poštovanja. U Hrvatskoj se još s tim borimo, potrebno je da regulativu uskladimo sa EU regulativom, da ona bude trasparentna i ne bude volativna - smatra Gnjidić. Prema njegovim riječima, ako se donese zakonska i podzakonska regulativa, želja je da svi igraju po istim pravilima igre. - IAP introduces gas in the region, i.e. it provides gasification of Albania, Montenegro and a large share of Bosnia and Herzegovina. Our partners in this project, Croatia, BiH and Montenegro have been developing this project since 2002 Mr Zovko has said. In addition, as he has added, Europe has recognized its significance by allocating 3.5 million EUR for feasibility study, environmental study and all other components pertaining to the project. - We are currently awaiting the continuation of the activities related to this project Mr Zovko has said. The manager of REECO SRB, Myriam Dobrota, has said that the contribution of this company, which achieved the first contact with the Western Balkans in 2006, has been to analyze all countries of operations and to make real potential for investors. This is not only about inviting investors in the Western Balkan countries and showing them opportunities. There was a time of big expansion in the area of sustainable sources of energy but at the end of this fever there has been a delay, because the potential effects on the regional states could not have been predicted Ms Dobrota has said. According to her, the rules and the short and long term objectives must be defined. - Besides, before we start with the business operations, we have to hold talks with the relevant institutions to see which projects must be really realized Ms Dobrota has said. She has said that it is not only about the renewable energy because, without it, there is no energy efficiency either. - This does not refer to the construction activities only but also to many additional things and that is the basis for sustainable energy Ms Dobrota has added. The representative of the company RWE from Croatia, Dean Gnjidic, has said that everyone is aware of the significance of hydro potentials. - However, we also need to be aware of the regulations, their transparency and the need to comply with them. We, in Croatia, still fight with this. We need to harmonize our regulations with those of the EU, so that it should be transparent and not subject to one s free will Mr Gnjidic has said. According to him, if the legal and sub-legal acts are adopted, then it should be applied to everyone. Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 79

80 ZBORNIK KONFERENCIJE 80 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

81 CONFERENCE PROCEEDINGS Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 81

82 ZBORNIK KONFERENCIJE Panel: BANKARSTVO I FINANSIJE Moderator: Ivan Saveljić Potpredsjednik, Privredna komora Crne Gore Panelisti: Nicolas Baron Adamovich Viši predstavnik, Commerzbank AG Giulio Moreno Direktor za Crnu Goru, Evropska banka za obnovu i razvoj 82 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

83 CONFERENCE PROCEEDINGS Panel: BANKING AND FINANCING Moderation: Ivan Saveljic Vice President, Chamber of Economy of Montenegro Panelists: Nicolas Baron Adamovich Senior Representative, Commerzbank AG Giulio Moreno Head of Office in Montenegro, EBRD Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 83

84 ZBORNIK KONFERENCIJE 84 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

85 CONFERENCE PROCEEDINGS Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 85

86 ZBORNIK KONFERENCIJE I.Saveljić: Sve ideje vezane za ekonomije cjelokupnog regiona zavise od toga da li za njihovu realizaciju ima novčanih sredstava ili ne. Finansijski sektor bankarstvo je ključ rješenja problema i djelimično uzrok teškoća koje imamo u pojedinim privrednim sektorima. Realnom sektoru je poznata činjenica da je sa urušavanjem svjetske ekonomije i pojavom krize došlo do problema u funkcionisanju bankarskog sektora, a zatim se taj problem proširio i na realni sektor, i da od tada čitav svijet, uključujući i naše prostore, pokušava da nađe rješenje za poremećene odnose između finansija i realnog sektora. Danas je panelist gospodin Gulio Moreno, direktor Evropske banke za obnovu i razvoj, čovjek koji je posljednjih 15 godina proveo u regionu na najodgovornijim dužnostima, predstavljajući EBRD u Albaniji, Makedoniji, Rumuniji, Bosni i Hercegovini, a u posljednje tri godine je u Crnoj Gori. Radi se, definitivno, o čovjeku koji poznaje region, naše probleme, i on nam može pomoći da riješimo probleme. Pokušaćemo sa njim da se dotaknemo razmisljanja o budućem razvoju bankarstva i ekonomije u Crnoj Gori. S druge strane je gospodin Nicolas Baron Adamovich, koji dolazi iz oblasti komercijalnog bankarstva i ima zavidno međunarodno iskustvo u toj oblasti. On je takođe radio u regionu (PRO Credit Banka Kosovo, Commerzbank u Frankfurtu, a sada je direktor Commerzbanke u Zagrebu). Sa njim ćemo razgovarati o aktivnostima Commerzbanke kao i o aktuelnim pitanjima u komercijalnom bankarstvu. Dakle, sagovornici koji mogu da osvijetle lice i naličje iste medalje, odnosno dva segmenta u bankastvu. Počeo bih diskusiju o investicionom bankarstvu. Gospodine Moreno, ovdje je bilo dosta govora o investicionim potrebama regiona, o povezivanju infrastrukture, energetike. Vi ste, dok ste radili u BiH, bili odgovorni za investicione aktivnosti i odobrili ste preko milijardu eura za projekte koji realizovani u BiH. U Crnoj Gori je to nešto manje. Možete li nam kazati u kojim oblastima i koliko sredstava je obezbijeđeno za to? G. Moreno: EBRD je prisutna u regionu od 1990, od osnivanja nakon pada Berlinskog zida. Mi smo među vodećim investitorima, ako se uzme u obzir da smo samo u Zapadni Balkan uložili milijardu eura. Šta je važno imati u ovom regionu? Regionalni pristup. Biće veoma teško gledati u budućnost ako region ne posmatramo kao integralni dio evropskih integracije. Stoga, moramo stati da razmislimo o izrazu ovo je najbolje za razvoj Crne Gore. Razvoj je za cijeli region. Razvoj Crne Gore je čvrsto povezan sa razvojem susjednih zemalja. Stoga pozdravljam ono što se desilo prije nekoliko dana, kada je premijerka Angela Merkel organizovala značajan događaj u Njemačkoj na kojem smo govorili o najznačajnijim potencijalnim projektima, kao što je Transjadranski put. To je ono u šta sve finansijske institucije žele da investiraju. To nije bitno samo za ovaj region. To je bitno za cijelu Evropu jer će to značiti lakši pristup regionu. Uzmite u obzir da i sada od Albanije do granice sa Italijom treba sati vožnje, a isti broj kilometara u Njemačkoj, Francuskoj, mo- I. Saveljic: All ideas related to the economies of the overall region depend on the funds available for their realization. The financial sector the banking sector is the key to the solution of the problem and partly the cause of the hardships we encounter at certain sectors. It is a well-known fact at the real sector that the collapse of the world economy and the crisis led to the problems in the functioning of the banking sector and that, since then, the whole world, including our region, has been trying to find the solution for the damaged relations between finances and real sector. One of the panelists today is Mr Giulio Moreno, Head of the European Bank for Reconstruction and Development, the person who has spent fifteen years in the region performing the most responsible tasks, heading the EBRD in Albania, Macedonia, Romania, Bosnia and Herzegovina, and in the recent three years in Montenegro. This is definitely the person who knows the region, our problems, and he can help us solve the problems. We will try to tackle with him the thinking on future developments of banking and economy in Montenegro. On the other hand, we have here Mr Nicolas Baron Adamovich, who comes from the area of commercial banking and who has enviable international experience in that area. He has also worked in the region (PRO Credit Banka Kosovo, Commerzbank in Frankfurt, and he is now the manager of Commerzbank in Zagreb). We will discuss with him the activities of Commerzbank and the current issues in the commercial banking. Therefore, our speakers today may shed the light on both sides of the coin, i.e. the two segments in the banking sector. I would start the discussion on investment banking. Mr Moreno, we have heard many things here about the investment needs of the region, networking of the infrastructure, energy. During your mandate in BiH, you were responsible for investment activities and you approved more than one billion EUR for the projects which were realized in BiH. This amount is slightly lower in Montenegro. Can you tell us what funds and in which areas have been allocated for this? G. Moreno: EBRD has been present in the region since 1990, from its inception after the fall of the Berlin wall. We are among the leading investors if we take into consideration that we have invested one billion EUR in Western Balkans. What is important to have in this region? Regional approach. It will be difficult to look into the future if we do not see the region as an integral part of European integrations. Thefore, we must stop to think about the expression this is the best for the development of Montenegro. The development is for the whole region. The development of Montenegro is closely connected with the development of the neighboring countries. Therefore, I welcome what happened several days ago when the Prime Minister, Angela Merkel, organized a significant event in Germany where we discussed the most important potential projects, such as the Trans Atlantic Highway. This is something that all financial institutions want to invest in. This is not important for this region only. It is important for the whole 86 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

87 CONFERENCE PROCEEDINGS žete preći za 4 5 sati. Ovo je veoma važno za trgovinu i turizam. Crna Gora već zavisi od turizma. Budućnost crnogorskog turizma zavisi od bolje komunikacione mreže. Ukoliko Crna Gora ne investira u puteve, poboljšanje aerodroma, naći će se van međunarodne turističke mape. Znate, da se dođe iz Londona do Crne Gore, potrebno je osam sati. Za tih osam sati vi ste u SAD-u. A i cijena da se dođe do vaše zemlje je nerealna. Pokušavamo da podržimo sve glavne aktivnosti u Crnoj Gori. U našoj viziji morate da pratite tri stuba. Prvi je ono što ja zovem održivom turističkom bazom. To znači da ne tražimo da investiramo u izgradnju novog hotela, već u cijelu infrastrukturu vezanu za taj hotel. Turistička sezona je veoma kratka (četiri mjeseca). Svaka osoba zaposlena u turizmu zna da 4 5 mjeseci aktivnog rada hotela nije dovoljno da se dođe do pozitivne nule i to znači da morate stvoriti uslove da se sezona produži. Morate da stvorite razloge iz kojih bi turisti ponovo došli u Crnu Goru (terene za golf, kongresni centar...). Drugi sektor je energetika. Crna Gora je već dio nekadašnjeg energetskog centra bivše Jugoslavije. Ali uspostaviće i podmorsku vezu sa Italijom, a to je još jedan primjer regionalnog projekta. Ovaj projekat će omogućiti da se u budućnosti energetski proizvod dovede do Bosne, Srbije, Crne Gore, Albanije, Italije. Za Italiju je struja proizvod u koji ona želi da ulaže. Stoga, na taj tačin ne ulazite samo na italijansko tržište već i na evropsko tržište. Treći stub u koji smo uključeni je diversifikacija ekonomije. Crna Gora je mala zemlja i ima veliki potencijal u agro biznisu. Ima iste uslove kao Bosna, Albanija i djelimično Hrvatska. Možete li da zamislite da odete na pijacu u Bosni i Crnoj Gori, i tamo ne možete da nađete nijednu vrstu lokalnog sira ili domaće salate, a nađete uvezene iz Poljske ili Italije? To je besmisleno. U cijelom lancu fali logistike. Ambalaža je takođe problem - ne možete da prodajete sir ako nije upakovan po propisima. Ovo je nešto na šta se moramo fokusirati. I. Saveljic: Zahvaljujem gospodinu Morenu na isticanju regionalne saradnje. Drugačije mišljenje ni ne možete imati, jer ste boravili u cjelom regionu i sa raznih strana posmatrali sve ovo što se dešava. Turizam, poljoprivreda, putna infrastruktura, energetika su definitivno naši pravci razvoja. Nadam se da će se u tim oblastima izdvojiti dovoljno sredstava i tako pokrenuti investicioni ciklus, koji će nas dovesti u povoljniji položaj. Gospodine Adamovichu, komercijalne banke u Crnoj Gori daju skupe kredite. Svi govorimo o konkurentnosti preduzeća, a onda kažemo kako su u našoj zemlji, a vjerovatno i u Hrvatskoj, krediti puno visočiji nego u zemljama EU. Naglašavamo da je razlika u kamatnim stopama 4%. Znači, na samom početku imate nejednaku startnu poziciju kojoj se morate prilagođavati. Kakva je trenutna politika kamatnih stopa i raspoloživost sredstava u bankarskom sistemu regiona, i da li možete da je uporedite sa Njemačkom, gdje je i sjedište Commerzbanke? N. B. Adamovich: Cijena kredita je svakako veoma veliki problem u cijelom regionu. Ne radi se o tome da su hrvatske banke zle ili loše i da pokušavaju da zarade što više mogu. Nemaju interesa da nude kredite koji su tako skupi da niko of Europe because it will mean easier access to the region. Let s take into consideration the fact that the distance from Albania to the border with Italy requires a hour ride by car and the same number of kilometers in Germany and France can be passed in 4 5 hours. This is very important for trade and tourism. Montenegro already depends on tourism. The future of Montenegrin tourism depends on the improved communication network. If Montenegro does not invest in the road infrastructure, improved airports, it will be outside the international tourist map. You know, from London to Montenegro, you need eight hours. For these eight hours, you will be in the USA. In addition, the price to get to your country is unreasonably high. We are trying to support all activities in Montenegro. In our vision, you have to follow the three pillars. The first one is what we call the sustainable tourist base. This means that we do not request to invest in the construction of this hotel but in the overall infrastructure related to this hotel. The tourist season is very short (four months). Anyone engaged in the tourism sector knows that 4 5 months of activities annually at the hotel are insufficient to reach breakeven point and this means that you have to create the conditions to extend the season. You have to create the conditions which would motivate the tourists to come again to Montenegro (golf terrains, congress center, etc.). The second sector is the energy sector. Montenegro is already a part of the former energy center of former Yugoslavia. However, the under sea cable with Italy will be established and it is one of the examples of regional projects. This project will bring energy to: Bosnia, Serbia, Montenegro, Albania, Italy. Electricity is the project in which Italy wants to invest. Therefore, this way you will enter not only Italian but also European market. The third pillar in which we are involved is diversification of economy. Montenegro is a small country with a big potential in the agro business. It has the same conditions as Bosnia, Albania and partly Croatia. Can you imagine to go to the market in Bosnia and Montenegro and not find any type of local cheese or salad there but, instead, find those imported from Poland or Italy? It is absurd. The whole chain lacks logistics. Packaging is also a problem you cannot sell in inadequate packaging. This is something that we need to focus on. I. Saveljic: I would like to thank Mr Moreno for emphasizing regional cooperation. Probably you could not get a different opinion because you have spent some time in the whole region and obtained various insights in all that happens here. Tourism, agriculture, road infrastructure, energy are definitely our strategies of development. I hope that in these areas you will allocate enough funds and thus start an investment cycle, which will bring us into a more favorable position. Mr Adamovic, commercial banks in Montenegro issue expensive loans. We all speak about the enterprises competitiveness and then we talk about the fact that in our country, and probably in Croatia, as well, the loans are much more expensive than in the EU countries. I would like to emphasize that the difference in the interest rates is 4%. Therefore, at the very beginning you have an unequal starting position to which you Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 87

88 ZBORNIK KONFERENCIJE ne može da ih vraća. Ali cijena kredita je uvijek refleksija situacije u zemlji. Podvući ću značaj pouzdanog zakonskog okvira koji je od suštinske važnosti za banke ali i generiše transparentnost i fer pravila u različitim segmentima tržišta. Sve to ulazi u proračun banaka da se odredi održiva cijena koja će takođe pokriti troškove koje one imaju zbog neplaćenih dugova. Ako pogledamo Hrvatsku, na primjer, procenat nevraćenih dugova u bankarskom sektoru je nekih 16%. To je jedan od najboljih prosjeka u regionu ali je ipak veoma loš. Pojednostavljeno gledano: na sto eura koje date u vidu kredita, izgubite 15, 16 eura. Profitabilnost bankarskog sektora je veoma niska. Prošle godine u Hrvatskoj povrat kapitala je iznosio 2,5% u prosjeku. Nijedan vlasnik kapitala nije zainteresovan da se onda time bavi, zato što negdje drugo može imati povrat investicije od 10 do 20%, što je povoljnije za rizk koji na sebe preuzima. Ovo je problem cijelog regiona. U posljednjih pet-šest godina bankarski sektor nije bio veoma dinamičan i privlačan za mnoge finansijske igrače. Postoji fragmentacija i nedostatak transparentnosti pravnog okvira, ali takođe i veoma niska profitabilnost koja dovodi do toga da se kapital šalje negdje drugo. Problem nije samo cijena već i dostupnost kredita. Stoga banke u ovom regionu sjede na ogromnoj likvidnosti. One su se naučile na sopstvenom iskustvu i postale možda suviše konzervativne pa ne daju kredite osim ako nemaju idealne uslove na koje se, naravno, rijetko nailazi. Dakle, to je jednako problem koliko je i cijena kredita. I.Saveljic: Problem nevraćanja kredita je veliki za Crnu Goru i, pretpostavljam, cio region. Faktor rizika koji podiže kamatnu stopu u regionu, plus nevraćeni dugovi, stavljaju banke u lošu poziciju. Likvidnost se podiže u svim sektorima, ali banke postaju konzervativnije i moramo da nađemo izlaz iz ove situacije zato što one ne mogu da drže novac u svom portfoliju i u osnovi zarađuju novac tako što ga pozajmljuju. Tako da ako ne mogu da pozajme novac, neće ga ni zaraditi i to će se odraziti na cijeli bankarski sektor. Gdje je izlaz? G. Moreno: Jasno je da se situacija poboljšava. Komercijalni bankarski sektor se prepolovio nakon finansijske krize u Veoma lako finansiranje imalo veoma negativne efekte. U posljednje dvije-tri godine, sve komercijalne banke u regionu su prešle od smanjenja portfolija do ponovnog pregovaranja o kreditima. Ovo je veoma važno jer se uklapa u čistu situaciju. Da bi izbjegle rizike, banke su počele da rade samo sa dobrim klijentima i oni su dobijali novac. Novi klijenti su rigorozno provjeravani i za kredite su im traženi veoma visoki kolaterali. Ovo nije održiva situacija jer su komercijalne banke stvorene da bi zarađivale novac. Naše komercijalne banke zarađuju novac preko kreditnih kartica. Stoga, situacija se mijenja kroz činjenicu da region bilježi rast. Ako uzmemo u obzir posljednje podatke koje je EBRD detaljno uradio, u prvom kvartalu prosječni rast u regionu je 2,3%. Ovo važan signal i mislim da komercijalne banke imaju municiju za ekonomski rast. Bez investicija nema razloga za ostajanje u regionu. Važno je predložiti projekte koji će rezultirati kreditnim bumom. need to adapt. What are the current interest rate policy and availability of funds in the regional banking system and could you compare it with Germany, which is the seat of the Commerzbank? N. B. Adamovich: The price of the loan is certainly a big problem in the whole region. It is not that the Croatian banks are evil or bad and that they try to earn as much as they can. They do not have the interest to offer loans which are so expensive that no one can pay them back. However, the price of the loans is always the reflection of the situation in the country. I will underline the significance of a reliable legal framework which is of crucial importance but which also generates transparency and fair rules at different segments of the market. All this is included in the banks calculation which will cover the costs that they have due to the outstanding debts. If we take a look at Croatia, for example, the percentage of outstanding debts in the banking sector is cca 16%. This is one of the best averages in the region but it is still very bad. Simply speaking: on each 100 EUR that you issue as a loan, you lose EUR. The profitability of the banking sector is very low. Last year in Croatia the average return of capital was 2.5%. No capital owner was interested to deal with it then because somewhere else they could have a return of investment of 10 20%, which is more favorable taken the risk he/she takes. This is the problem of the whole region. In the recent five to six years, the banking sector has not been very dynamic and attractive for many financial players. There is a fragmentation and a lack of legal framework transparency but also a very low profitability which may direct the capital to some other place. The problem is not only the price but also the availability of loans. Therefore, the banks in this region sit on great liquidity. They have learnt the lesson from their own experience and have maybe become too conservative so that they do not issue loans unless they have ideal conditions for this, which happens rarely. Therefore, this is equally the problem as it is the price of the loan. I. Saveljic: The problem of bad return of loans is a big problem for Montenegro and, I guess, for the whole region. The risk factors which raise the interest rate in the region, plus outstanding debts, put the banks in a bad position. The solvency is raised at all sectors but the banks become more conservative and we have to find a wayout from this situation because they cannot keep the money in their portfolios and basically earn money by lending it. Therefore, if they cannot lend the money, they will not earn it and that will reflect on the whole banking sector. Where is the wayout? G. Moreno: It is clear that the situation is improving. Commercial banking sector has been halved following the financial crisis in Very easy financing had very negative effects. In the recent two-three years all commercial banks in the region have passed from the reduction of portfolio to renegotiations about the loans. This is very important because it fits into the clear situation. In order to avoid risks, the banks started to work with good clients only and they received the 88 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

89 CONFERENCE PROCEEDINGS I. Saveljić : Gospodine Adamovichu, kakva su predviđanja vezana za situaciju u bankarskom sektoru u regionu? Koja je to oblast gdje se očekuju investicije sa manjom kamatnom stopom? N. B. Adamovich: Mislim da je u zemljama regiona prisutno previše banaka. Što se tiče cijene kredita, u srednjeročnom periodu situacija nije optimistična. Pokušao sam ranije da podvučem da cijene funkcionišu onako kako funkcioniše ekonomija zemlje. A izgledi nisu da će sjutra sve biti dobro i savršeno. Takođe, cijene će nastaviti da odražavaju nedostatke u svim zemljama, ne samo po pitanju transparentnosti i zakonskog okvira, već i pitanja makroekonomske stabilnosti. Posebno ako govorimo o većim projektima kao što su oni koje započinje vlada i daje određene garancije pitanje je da li će banke biti zadovoljne takvim garancijama. Institucionalni okvir će se značajno poboljšati a makroekonomska stabilnost nije nešto što će doći preko noći, osobito u onim zemljama koje imaju deficit u državnom budžetu i trgovinskom balansu. Nažalost, ne vidim nikakav kratkoročni lijek. G. Moreno: Posljednji podaci pokazuju da je u Crnoj Gori prosječna kamatna stopa za kredite 10,1% + EURIBOR. To nije mali iznos s obzirom na činjenicu da EBRD komercijalnim bankama daje EURIBOR + 3%. Na šta treba da se fokusiramo? Da podržimo MSP i neke sektore koje zemlja prepozna kao bitne. Podsticaj za to mogu dati EU i lokalne vlasti. Jedan primjer -obnovljiva energija se smatra za prioritet i Crna Gora daje neka sredstva za to. Za komercijalne banke i pojedince koji se prijave za projekat iz ove oblasti obezbijeđeno je 50 miliona eura. Naravno, kod ozbiljnih projekata ova sredstva će se koristiti da se snize kamatne stope ili da se produži dospijeće. To su jedine praktične stvari koje mogu u kratkom roku da se suprotstave kamatnim stopama. I EU je veoma voljna da investira u ove projekte. Kada se završi projekat vezan za obnovljivu energiju,vrijedan do 6 miliona eura, EU će pokloniti 20% glavnice. I. Saveljić: Definitivno, to je jedno od pouzdanih rješenja. Stvari bolje stoje ali promjene se ne dešavaju onako brzo kako smo mi očekivali. Generalno, govorimo o potrebi ovog regiona da ubrza da uhvati korak sa EU integracijama i standardima. Ovo nas usporava. Zemlje koje su moćnije dolaze da spašavaju banke. Realni sektor, koji je bio osnova slobodne ekonomije u SAD i na koji vlada nije uticala, pokušava da preživi i spasi mnogo kompanija koje je pogodila svjetska kriza. Moramo naći nešto između. Jedna od stvari vezana za region je da smo u prošlosti naučili da se nosimo sa tim. Želim da vjerujem da će naši preduzetnici iskoristiti te vještine još jednom. Već znam za neke primjere da su naše kompanije dobile određena sredstva koja nisu dio finansijskog sektora. Želio bih da publika postavi pitanja. Želim od vas da čujem nove ideje i pitanja vezana za situaciju u finansijskom sektoru u regionu. Publika: Vratiću se na ono što je rečeno na početku panela. Možda ste upoznati sa tim da EPCG investira u veliki projekat zamjene električnih brojila. EPCG finansira ovaj projekat. funds. The new clients have been rigorously checked and they have been requested very high collaterals to be granted the loans. This is not a sustainable situation because the commercial banks are made to earn money. Our commercial banks earn money through credit cards. Therefore, the situation has been changing through the fact that the region has been recording growth. If we take into consideration the latest data analyzed in detail by the EBRD, in the first quarter of 2014, the average regional growth was 2.3%. This is an important signal and I think that commercial banks have the ammunitions for economic growth. Without investments there is no reason to stay in the region. It is important to propose the projects which will result in the credit boom. I. Saveljic: Mr. Adamovich, what are the predictions for the banking sector in the region? In which area do you expect the investments with the lowest interest rate? N. B. Adamovich: I think that there are too many banks in the region. Regarding the price of loans, in the middle-term period the situation is not optimistic. I tried earlier to underline that the prices did not function the way the economies of the country functioned. And there are no prospects that tomorrow everything will be good and perfect. In addition, the prices will continue to reflect the deficiencies in all countries, not only with respect to transparency and legal framework but also to the issues of macroeconomic stability. Especially if we talk about bigger projects, such as the ones initiated by the government for which it gives certain guarantees it is a question if the banks will be satisfied with such guarantees. The institutional framework will improve significantly and the macro economic stability is not something that will come overnight, especially in those countries with the deficit in the state budget and trade balance. Unfortunately, I do not see any short-term solution. G. Moreno: The latest data indicate that the average interest rate for loans is 10.1% + EURIBOR. This is not a small amount given the fact that EBRD gives EURIBOR + 3% to commercial banks. What should we focus on? To the support of SME and some sectors which the country recognizes as important. The incentive for this may come from the EU and local authorities. An example renewable energy is considered as a priority and Montenegro provides the funds for it. Fifty million EUR have been provided for commercial banks and individuals who apply for a project in this area. Of course, with serious projects these funds will be used to reduce the interest rates or to extend the due date. These are the only practical things which can oppose the interest rates. And the EU is willing to invest in these projects. When the project related to sustainable energy and worth up to 6 million EUR is completed, EU will grant 20% of the principal. I. Saveljic: It is definitely one of the reliable solutions. The things are now better but they do not happen as fast as we expected. Generally, we are talking about the need of the region to speed up to keep up the step with the EU integrations and standards. This is slowing us down. More powerful Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 89

90 ZBORNIK KONFERENCIJE Zamijenjeno je 45% potrošačkih mjesta. To znači smanjenje troškova, povećanu efikasnost, povećanje plaćanja distributerima EPCG i, veoma brzo, povraćaj investicije. Na ovom projektu je uključen konzorcijum više kompanija - lokalna kompanija MEZON, poljska kompanija i neka kompanija iz Njemačke. Ovakve vrste projekata ne znaju za granice. Imam pitanje za Vas, gdine Moreno. Možda imate neku preporuku za nas kao konzorcijum MSP, kada i šta bismo trebali da uložimo i preko granice i u cijeli region? G. Moreno: Spomenuli ste projekat koji je za sada uspješna priča. EBRD finansira projekte za instalaciju pametnih brojila. I do sada smo finansirali slične projekte u Srbiji, Bugarskoj, Makedoniji. Ovaj koji smo finansirali u Crnoj Gori je bio najuspješniji do sada. Veoma smo zadovoljni što je prva faza okončana i što smo u završnoj fazi priprema za drugu fazu. Uskoro očekujemo tender za instalaciju. Žao mi je ali moramo tako da uradimo jer su to pravila EBRD-a. Govorimo o 20 miliona eura za instalaciju druge faze. Ovo je veoma važan projekat. Vjerujemo u pristup raznovrsnosti. Na početku, kada smo finansirali projekat, bilo je dosta otpora od strane potrošača, NVO-a. Nismo imali nikakvih značajnih tehničkih gubitaka. Takođe, veoma smo zadovoljni kako je konzorcijum uradio instalaciju. I. Saveljić: To je definitivno jedan od najboljih primjera i kompanija MEZON je dobila nagradu Privredne komore za najbolju kompaniju godine. Moram da dodam na ovu priču da moramo da nađemo nešto da i ovo prevaziđemo da budemo kreativni. Početak, učešće višeg ekspertskog programa koji predstavlja Njemačka, privukao je investicije kompanije MEZON i oni su otpočeli komunikaciju sa izvršnim direktorom njemačke kompanije i od toga napravili uspješnu priču. To je primjer za kojim se možemo povesti. Njemački uticaj na finansiranje i nalaženje interesa u toj oblasti je dovelo do uspješne priče. I Privredna komora je prepoznala sve ove aktivnosti. Publika: S obzirom na to da Evropska centralna banka smanjuje baznu kamatu na 0,05 %, što je najniže do sada, nije li vrijeme da Evropske investicione banke i EBRD budu partneri investicionom fondu Zapadnog Balkana, i razmisle o proaktivnijoj strategiji za razvoj infrastrukture Zapadnog Balkana? To je ključno za ekonomski razvoj u ovoj oblasti koja je veoma problematična jer ako gledate nacionalnu ekonomiju svih uspješnih država bivše Jugoslavije, zaražene su istim problemom negativnim trgovinskim bilansom i saldom računa, niskom stopom razvoja, visokom nezaposlenošću i povećanim dugovanjima. Stoga mislim da bi bila potrebna sveobuhvatnija strategija za ekonomski razvoj Zapadnog Balkana. G. Moreno: Potpuno se slažem s Vašom izjavom. To je političko pitanje zato što odluka o autonomijama nije odgovornost EBRD-a. Našu granicu čini udio u EU. Zaista je važno prvo imati politički nivo. Mi smo instrumenti poreskih obveznika, politike... Kao što sam ranije naveo, ova inicijativa, pokrenuta od strane njemačke vlade, upravo je ono što je countries come to save the banks. The real sector, which was the basis of free economy in the USA and which was not affected by the Government, is trying to survive and save many companies hit by the world crisis. We have to find something in-between. One of the things related to the region is that in the past we learnt how to deal with it. I want to believe that our entrepreneurs will use these skills once again. I already know for some examples that our companies received certain funds which are not part of the financial sector. I would like the audience to ask questions. I want to hear from you about the new ideas and issues related to the financial sector in the region. Audience: I will get back to what was said at the beginning of the panel. You may know about the fact that EPCG invests in the big project of the replacement of meters. EPCG finances this project. So far 45% of consumer points have been replaced. This means the reduction of costs, increased efficiency, increased payment to EPCG distributors and, very soon, the return of investment. This project includes the consortium of many companies - the local company MEZON, a Polish company and some company from Germany. These types of projects know no borders. I have a question for you, Mr Moreno. You may have a recommendation for us as a consortium of SMEs, when and what should we invest outside the border and in the whole region, too? G. Moreno: You have mentioned the project which has been a successful story so far. EBRD finances the projects for the installation of smart meters. So far we have financed similar projects in Serbia, Bulgaria and Macedonia. The one we financed in Montenegro was the most successful so far. We are very satisfied that the first phase has been completed and that we are now in the last stage of the preparations for the second phase. We are awaiting the tender for the installation activities. I am sorry but we have to act that way because these are the EBRD rules. We are talking about 20 million EUR for the installation of the second phase. This is a very important project. We believe in the diversity principle. At the beginning, when we were financing the project, we encountered a lot of resistance by the consumers, NGOs. We did not have any significant technical losses. In addition, we are very satisfied how the consortium has done the installation. I. Saveljic: This is definitely one of the best examples. And the company MEZON received the prize as the company of the year from the Chamber of Economy. I must add to this that we have to find a way to overcome this, too to be creative. The beginning, the participation of the higher expert program represented by Germany, attracted the investments of the company MEZON and they started the communication with the Executive Manager of the German company and made a successful story out of it. This is an example which we can follow. The German impact on financing and finding interest in this area has resulted in a successful story. The Chamber of Economy has recognized all these activities. Audience: Given the fact that European Central Bank has re- 90 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

91 CONFERENCE PROCEEDINGS potrebno. Morate početi sa jednim regionalnim projektom i onda će EBRD, EIB, poslati finansije. Oni se mogu uključiti. Teško je finansirati projekat u jednoj zemlji gdje ne postoji politička volja vezana za finansiranje Transatlantskog puta. Kada bi bilo političke volje, bila bi garantovana i podrška međunarodnih finansijskih institucija. N. B. Adamovich: Postavlja se pitanje šta uraditi da se izađe iz začaranog kruga. Uloga Vlade je ogromna i ne odnosi se samo na nalaženje načina da se subvencioniraju određeni segmenti i projekti. Vlade će morati da se pobrinu za finansije privatnog sektora. Banke su konzervativne i preferiraju da pozajme novac državi, jer je to za njih najlakše. Ukoliko država uzme novac i investira negdje drugo, možda po subvencionisanoj stopi, to može imati smisla ali ne može biti odgovor. Odgovor je, a to je drugi dio političke odluke vlade, konačno bavljenje strukturnim fondovima. Na sve ovo utiče i situacija vezana za nelojalnu konkurenciju. Ima li ijedne veće industrije u svim vašim zemljama, u kojoj nema nekog dominantnog igrača? U svim vašim zemljama imate velikog državnog igrača koji je vjerovatno privilegovan u određenim aspektima kada ga uporedite sa njegovim konkurentima. Od banaka se traži da finansiraju privatne igrače a one ne mogu biti sigurne da će privatni igrač biti uspješan. Državni igrač će se pobrinuti da se neke dozvole ne izdaju. Fer konkurencija nije omogućena i banke će imati poteškoće da produže kredit. Ovdje, vidim veoma jasan zadatak za sve vlade u regionu da djeluju što je brže moguće i da regulišu gdje je to moguće, naravno, i da se otarase birokratije koja se skupljala tokom niza godina. I. Saveljić: To je još jedan pristup. Mislim da je gdin Moreno odgovorio kako nastaviti kombinujući različite izvore i pokušavajući da se snize kamatne stope i zadobije bolja pozicija. Takođe ste govorili o uključivanju vlade u cilju olakšavanja situacije. U osnovi, rekli ste da će banke pozajmiti novac vladi uz mnogo niže kamatne stope zato što rizik nije tako velik i onda to vlada može koristiti kao sredstvo da neke aktivnosti optimizuje i da bolje izgradi svoju ekonomsku poziciju. To je ono što smo počeli da dodjeljujemo u Crnoj Gori i ta ideja je došla iz biznis sektora i kroz Privrednu komoru, koja je htjela da stvori nešto poput razvojnog fonda. Postoje modaliteti koje treba da istražimo, definitivno, kao mogući rezultat i moguće razrješenje situacije u kraćem vremenskom periodu. Publika: Ja sam advokat koji radi u bankarskom sektoru. S moje tačke gledišta, zainteresovan sam za sistem koji su proizvele banke u smislu da su faktori rizika i prodajni paketi koje banka nudi klijentima, veze sa kolateralima koje su, kao što znamo, bile okidač gdje su ekonomske krize počele. Stoga, vidim problem povezivanja kolaterala sa sistemom koji obezbjeđuje usluge za klijente koji nije održiv. Nova veza toga kako banke prodaju svoje proizvode i njihov povraćaj je nešto što se mora mijenjati. I isto tako vezano za rizike koje je spominjao gdin Adamovich. U jednom slučaju imamo situaciju gdje banke opraštaju dosta kredita, posebno za doduced the base interest rate to 0.05%, which is the lowest rate so far, isn t it the time for the European Investment Bank and EBRD to be the partners to the Western Balkans Fund and think of the proactive strategy for the development of the Western Balkan infrastructure? This is key for the economic development in this area which is very problematic because if you take a look at the national economy of all successful states of ex-yugoslavia, they are all infected with the same problem negative trade balance and balance of account, low rate of development, high unemployment and increased indebtedness. Therefore, I think that we would need a more comprehensive strategy for the economic development of the Western Balkans. G. Moreno: I fully agree with your statement. This is a political issue because the decision on the autonomies is not an EBRD responsibility. Our borderline is the share in the EU. It is really important to have a political level in the first place. We are the instruments of tax payers, politics... Like I said, this initiative, started by the German government, is exactly what is needed. You have to start with one regional project and then EBRD, EIB will send finances. They can get involved. It is difficult to finance a project in a country where there is no political will related to the financing of the Trans-Atlantic highway. Were there any political will, the support of the international financial institutions would be guaranteed. N. B. Adamovich: The question is what should be done to exit the vicious circle. The role of the government is extremely important and it does not concern only finding the way to provide the grants for certain segments and projects. The governments will have to take care for the financing of the private sector. The banks are controversial and they prefer to lend the money to the state because it is the easiest way for them. If the state takes the money and invests somewhere else, maybe at the subsidized rate, it may make sense but it cannot be an answer. The response is, and that is the second part of the government s decision, to take into account the structural funds. All this is affected by the situation related to unfair competition. Is there any major industry in all your countries which does not have a dominant player? In all your countries you have a dominant state player who is probably privileged in certain aspects when compared to his competition. It is required from the banks to finance private players and they cannot be certain that the private player will be successful. The state player will take care that certain permits are issued. Fair competition is not enabled and the banks will face difficulties to extend the loan. I see here a very clear task for all governments in the region to act as fast as possible, to regulate where it is possible, of course, and to get rid of bureaucracy which has been accumulated in the course of years. I. Saveljic: This is another approach. I think that Mr Moreno has provided the reply as to how to continue by combining different sources and trying to reduce the interest rates and obtain a better position. You also talked about the involve- Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 91

92 ZBORNIK KONFERENCIJE maće kompanije. Oni tu priliku koriste na loš način. Otišli su u ekstreme i sada su konzervativniji u onome što imaju da ponude i traže više ali su na kraju zaglavljeni u poziciji da ne vjeruju klijentima. Možda očekuju sigurnije okruženje. Kako mjerite tu vrstu rizika? N. B. Adamovich: Dosta zanimljivih zapažanja. To je vrlo kompleksna tema. Banke imaju svoje sistematike koje mogu da računaju na osnovu faktora rizika i komplikovanih formula a koje mogu biti pogrešne s vremena na vrijeme. Koliko kolateral ublažava rizike? Ako tražite kredit i ja vam dam eura i vi kažete: ako ne mogu da ti vratim, daću ti sat. Princip kolaterala je prilično jasan. Pitanje je kako ćete smanjiti kolateral za kredit i kako procijeniti kolateral? U ovoj oblasti razvoj regiona je otišao u pogrešnom pravcu. Kao što smo ranije spomenuli, najbolji klijenti su oni kojima nije potreban novac. Ukoliko morate da obezbijedite odnos vrijednosti realnog kolaterala 221, onda na neki način to nema smisla za one koji dobijaju kredit. Apsolutno se slažem da na neki način treba razmisliti o dosta kalibracija ali nisam siguran da se možete otarasiti koncepta kolaterala osim ako imate veoma jaku kompaniju. Kao bankar, gledate bilanse, donosioce odluka, tražite podatke o kompaniji i možete dati kredit bez bilo kakvog kolaterala. I to se dešava. Nažalost, to nije pravilo. G. Moreno: Tržište je gurnulo neke banke da daju kredit a da nisu obratile pažnju na realnost kompanije. Sada se kolateral ne može eliminisati, izuzev ako imate obrtna sredstva. To je koncept koji postoji od početka bankarskog sistema. Publika: Spomenuću nešto iz našeg iskustva na ovu temu u Makedoniji. Predstaviću to u 2 pravca. Jedan pravac, stvaranje veće konkurentnosti između banaka. Imamo nekoliko primjera u Makedoniji. Radili smo za strane banke koje daju kredite direktno makedonskim pravnim licima. Ukoliko uporedite kamatne stope koje se daju za kredite, koje su date od strane evropskih banaka domaćim, vidjećete da su kamatne stope koje traže evropske banke niže. Ima projekata na kojima su kompanije iz Makedonije kredite (velike novčane iznose) tražile direktno od stranih banaka. To je vezano za slučaj u Makedoniji. Pretpostavljam da zemlje u regionu u svojim regulativima imaju neku sličnu mogućnost da strane banke mogu biti uključene u domaće tržište tako što će davati kredite iz inostranstva i to će povećati konkurentnost u bankarskom sektoru i sniziti kamatne stope na duže staze. Druga stvar, domaća pravna lica bi razmotrila mogućnost da uspostave povezane kompanije u inostranstvu tamo gdje su krediti niži a posredničke kompanije će tražiti kredite. To je kompleksno jer banke traže sigurnost i to se kompaniji mora dati kao super garancija. Ove dvije opcije će donijeti konačni rezultat u vidu smanjenja kamatnih stopa ali ovo je isključivo za veće iznose kredita. G. Moreno: Činjenica je da ovo ne može biti instrument za MSP. N. B. Adamovich: Slažem se sa gdinom Morenom. To može biti djelotvorno samo za velike projekte zato što ćete imati ment of the government in order to facilitate the situation. Basically, you said that the banks will lend the money to the government with much lower interest rates because the risk is not so high and then the government can use it as a means to optimize some of these activities and improve its economic position. This is what we have started to allocate in Montenegro and this idea was initiated by the business sector and through the Chamber of Economy, which wanted to establish something similar to the development fund. Definitely, there are modalities which need to be looked into as a possible result and the resolution of the situation in the shortest period possible. Audience: I am an attorney at law employed in the banking sector. From my point of view, I am interested in the system produced by the banks given the fact that the risk factors and sales packages offered by the banks to the clients, relations to collaterals, as you know, were the trigger for the economic crisis. Therefore, I see the problem in connecting collaterals with the system which provides services for clients which is not sustainable. The new relation as to how the banks should sell their products, as well as their return, is something which needs to be changed. And the same would hold for the risks mentioned by Mr Adamovich. In one case we have the situation where the banks forgive a lot of loans, especially for domestic companies. They use this opportunity in a very bad way. They have gone in the extreme and are now more conservative in what they have to offer. They ask for more but in the end they are stuck in the position where they do not trust to clients. Maybe they expect a safer environment. How do you measure this type of risk? N. B. Adamovich: Many interesting remarks. This is a very complex topic. The banks have their systems of calculation based on the risk factors and complicated formulas, which may be wrong from time to time. To what extent does the collateral alleviate risks? If you are asking for a loan and I give you EUR and you say: If I cannot return it, I will give you my watch, the principle of the collateral is pretty clear. The question is how you can reduce collateral for a loan and how to estimate a collateral. Regional development in this area went in the wrong direction. Like we said before, the best clients are those who don t need money. If you have to provide the ratio of real collateral 2:1, then in a way it makes no sense for those who receive the loan. I absolutely agree that somehow we need to think of a lot of calibrations but I am not sure if you can get rid of the concept of collateral except in the cases when you have a strong company. As a banker, you take a look at the balances, at the decision-makers, you ask for the data on the company and you can approve loans without any collateral. Sometimes it happens but it is not a rule, unfortunately. G. Moreno: The market has pushed some banks to give loans without paying attention to the company s reality. The collateral now cannot be eliminated in case you have working assets. This is the concept which exists from the beginning of 92 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

93 CONFERENCE PROCEEDINGS poteškoća da nađete banku koja je spremna da vam produži kredit u zemlji u kojoj banka nije operativna. To je povezano sa strategijom strane banke. Zašto bi strana banka, koja ima sopstveno tržište, investirala u zemlju gdje nije upoznata sa njenim pravnim okvirom. Nećete naći nijednu stranu banku koja nije operativna u zemlji, u smislu da tamo ima filijale. U stvari, opšteprihvaćena praksa je da postoje prekogranični krediti. Filijale stranih banaka u zemlji imaju određeni kapital i uzimali su srednji koeficijent koji su ograničili regulatori ali one neće moći da produžavaju velike kredite. Oni imaju lokalne filijale koje pogledaju projekat, procijene ga i onda se za te projekte od strane majčinske kompanije ili produži cijeli kredit ili dio kredita. To ne snižava kamatne stope. Bojim se da na taj način ne možete formirati konkurentnost. Rahman Selimović, predsjednik opštine Petnjica: Imali smo prilike da čujemo šta je aktuelno u regionu. Želim da postavim dva pitanja. Da li Evropska banka za razvoj razmišlja da se, u dijelu finansiranja opština za tretman otpadnih voda, snize kamate, jer smatram da je to urgentno pitanje i za državu i ljude koji rade u lokalnim samoupravama? Opštine, posebno na sjeveru, nijesu u stanju da to same urade jer nemaju kapacitete za to. Pitanje za g-dina Morena - zašto je veliko interesovanje banaka da budu prisutne u Crnoj Gori, ako je već konstantovano da postoji rizik za poslovanje u Crnoj Gori? Međutim, čuli smo juče od ministara i od premijera da je ovdje povoljan i stabilan politički ambijent i da nema rizika za poslovanje. G. Moreno: Kamatna stopa za projekte otpadnih voda nije problem. Za ovu vrstu projekata pravo pitanje je vezano za jemca (onog koji obezbjeđuje garancije). U Crnoj Gori je fiskalni prostor veoma ograničen. Vlada mora da donese odluku svake godine za koje projekte želi da proširi tu vrstu garancija. U Crnoj Gori nema ogromnog broja opština koji vrijedi kreditirati. Da bi lokalne vlasti produžile garanciju, potrebno je da dobijete zeleno svjetlo od vlade. Postoje dva dodatna problema. Jedan je dimenzija planova, a drugi tarifni sistem. Potrebno je da stvorite kritičnu masu da biste opravdali investiciju jer drugačije ne možete da finansirate mali plan. Problem sa tarifama nije samo problem u Crnoj Gori. U Podgorici plaćam 2 eura mjesečno za odnošenje smeća. Kada sam bio u Londonu, plaćao sam 300 funti mjesečno. Možda je cijena u Londonu previsoka ali u euro zoni je niža. Veoma želimo da investiramo u ovu vrstu projekata ali morate stvoriti kritičnu masu inače će biti veoma teško to finansirati. N. B. Adamovich: Ovdje ću napraviti dvije razlike. Prvo, postojalo je veliko zanimanje za finansijske institucije iz zapadno-evropskih zemalja da dođu u region. Austrijanci i Italijani su mislili da mogu da razumiju ovo regionalno tržište i da mogu da vode uspješan biznis ovdje. I zaradili su veliki novac. Bili su zadovoljni. Druge banke, kao što su njemačke banke, nisu imale operativne banke ovdje zato što su mislile da će ovdje imati uspješnu priču. Mnogi različiti faktori koji su bili barijere. Zato se neću složiti da svi trče da osnuju the banking system. Audience: I will mention something from our experience in this respect in Macedonia. I will present it in two directions. One direction, the creation of higher competitiveness among banks. We have several examples in Macedonia. We have worked for foreign banks which give credits directly to Macedonian legal entities. If you compare interest rates for loans, given to domestic banks by the European banks, you will see that the interest rates required by the European banks are lower. There are projects where the Macedonian companies asked for loans (large amounts of money) directly from foreign banks. This is related to the case in Macedonia. I suppose that the regional countries in their regulations allow some similar opportunity for the foreign banks to be included in domestic markets by securing loans from abroad, which will increase competitiveness in the banking sector and reduce interest rates in the long run. The second, domestic legal entities should take into consideration the opportunity to establish associated companies abroad where the loans are lower and mediator companies will ask for loans. This is a complex issue because the banks request security and this should be given to the company as a super guarantee. These two options will bring the final result - the reduction of interest rates but this exclusively refers to larger loans G. Moreno: It is a fact that this cannot be an instrument for SMEs. N. B. Adamovich: I agree with Mr Moreno. This can work only with big projects because you will have difficulties to find the bank which would be ready to extend the loan in a country where the bank is not operational. This is related to the strategy of the foreign bank. Why would a foreign bank, which has its own market, invest in a country which legal framework is not familiar to it. You will not find a single foreign bank which is not operational in a country, in the sense that it has branch offices. In fact, the cross-border loans are a general practice. The branch offices in the country have a certain capital and they have taken middle coefficient limited by regulators but they will not be able to support big loans. They have big local branch offices which take a look at the project, analyze it and then the mother company extends either the loan or a part of the loan. This does not reduce the interest rates. I believe that this way you cannot establish competitiveness. Rahman Selimovic, the mayor of the Petnjica municipality: We had an opportunity to hear what is going on in the region. I want to ask two questions. Does the EBRD consider the reduction of the interest rates in the segment of financing the municipalities for waste water treatment because I consider it as an urgent matter for the state and the people who work in local self-governments? The municipalities, especially in the north, are not able to do it on their own because they do not have the capacities for this. The question for Mr Moreno - why are the banks present in Montenegro if there are risks for business operations here? However, we heard yesterday from the ministers and the Conference Economy of Montenegro 2014 Economy - Basis for Western Balkans Regional Cooperation 93

94 ZBORNIK KONFERENCIJE bankarski biznis ovdje. Oni koji jesu došli ovdje krajem 90-ih godina prošlog vijeka, zažalili su zbog te odluke jer su to bile jake banke u domaćem okruženju ali ne i internacionalno. Platforma koja im je ponuđena zato što su ušle na ovo tržište je bila veliki skok za njih zato što su proširili aktivnost svoje banke. Danas nećete naći nikog od njih ko je srećan sa investicijama koje je ovdje imao. Oni neće izaći sa tržišta zato što im niko neće kupiti banku. Do banke su bile u poziciji da prodaju nekretnine četiri puta više od njihove realne vrijednosti. Danas će biti srećni ako ih prodaju 1:1. Tako da zaista ono što smo opisali kao atraktivan seting, to je bilo tačno ali prije sedam godina. Slika se promijenila. Možemo samo da se nadamo da će doći bolja vremena za banke ili majčinske institucije banaka koje imaju predstavništvo ovdje i da će one premjestiti kapital na tržišta koja mogu više da pruže. To nije u interesu regiona. Prime Minister that the political climate here is stable and favorable and that there is no risk for business. G. Moreno: The interest rate for waste water projects is not a problem. The real issue for this type of projects is related to the one who provides guarantees. The fiscal space in Montenegro is not limited. Each year the Government needs to make the decision for which projects it wants to extend this type of guarantees. There are not many municipalities in Montenegro which are worth guarantees. If the local governments want to extend guarantees, they need to receive the green light from the government. There are two additional problems. One is the dimension of plans and the other is the tariff system. You need to create a critical mass to justify the investment because otherwise you cannot finance a small plan. The tariff problem is not a problem in Montenegro. In Podgorica, I pay 2 EUR monthly for waste transport, while in London I paid 300 pounds monthly. The price in London may be too high but it is lower in the Eurozone. We very much want to invest in this type of projects but you have to create a critical mass. Otherwise, it will be difficult to finance. N. B. Adamovich: I will make two distinctions here. First, there was a huge interest for financial institutions from Western European countries to come to the region. Austrians and Italians thought that they could understand this regional market and that they could lead a successful business here. And they earned a lot of money. They were satisfied. Other banks, such as German banks, did not have operational banks here because they thought that they would have a successful story here. There were many different factors which were considered as barriers. That is why I disagree that everyone runs to establish a banking business here. These who did run, came here at the end of the nineties of the past century and they regretted this decision because these were strong banks in domestic environment but not internationally. The platform offered to them because they entered this market was a huge leap forward because they extended the activity of its bank. You will not find anyone of them today who is happy with the investments which they had here. They will not exit the market because no one will buy their bank. Until 2006 the banks had been in the position to sell real estate at a four times higher price than their real value. Today they will be lucky if they sell it at 1:1. Therefore, what we described as a really attractive setting was true but seven years ago. The picture has changed. We can only hope that better times will come for the banks or mother institutions of the banks which have their representatives here and that they will relocate their capital to the markets which can offer more. That is not in the regional interest. 94 Konferencija Ekonomija Crne Gore 2014 Ekonomija - osnov povezivanja Zapadnog Balkana

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