Montenegro woos Chinese investment in infrastructure
August 17, 2014, 8:58 am

he flag bearer of Montenegro delegation parades into the stadium during the opening ceremony of Nanjing 2014 Youth Olympic Games in Nanjing, capital of east China’s Jiangsu Province, Aug. 16, 2014 [Xinhua]

Xi on Sunday met with President Filip Vujanovic, who was in Nanjing to attend the opening ceremony of the second Summer Youth Olympics.

Vujanovic said Montenegro is keen on Chinese enterprises participating in electricity and transport projects in the country.

The World Bank had earlier in March this year withdrawn its $50 million loan support to Montenegro’s budget, saying a highway deal agreed with China would put too much strain on the country’s finances.

The China Road and Bridge Corporation, part of China Communications Construction Company has inked a deal with the Montenegro government to build a 40-kilometre section of a 120-km highway connecting the south with Serbia in the north.

On Sunday, the Chinese President was quoted by state news agency Xinhua as saying China considers Montenegro as “a trustworthy friend and a good partner in central and eastern Europe”.

China will boost cooperation in joint projects in infrastructure, energy, and tourism with Montenegro, Xi told Vujanovic.

With a population of 680,000 people, Montenegro has bid for both EU and NATO membership.

Montenegro’s bid to join the NATO was shot down earlier last year at September’s summit in Wales. NATO members have pressed the Montenegro government to carry out reforms such as reinforcing the rule of law, meeting NATO standards in security sector reforms and fighting corruption and organised crime.

Earlier on Saturday, the two leaders attended the opening of the second Summer Youth Olympics that run from August 16-28 in Nanjing, capital of east China’s Jiangsu Province.

TBP and Agencies