CCI of the Russian Federation and Montenegro are cooperating mainly on tourism and real estate

CCI of the Russian Federation and Montenegro are cooperating mainly on tourism and real estate


One of the priorities of cooperation between Russia and Montenegro is an investment partnership, said the President Trading-industrial chamber of the Russian Federation Sergey Katyrin.

MOSCOW, 2 Dec. The most important areas of cooperation between Russia and Montenegro are currently the tourism and real estate market, one of the priorities is the investment partnership, said the President Trading-industrial chamber of the Russian Federation Sergey Katyrin.

The foreign Ministers of NATO countries in Brussels on Wednesday officially invited Montenegro to begin accession negotiations with the Alliance, which, presumably, will last one and a half to two years. Vice-speaker of the state Duma from “Fair Russia” Nikolay Levichev, in turn, noted that the appearance of NATO military bases in Montenegro may lead to the fact that this country will remain without Russian investment.

Trade

Russia’s trade with Montenegro in January-September, according to data (FCS of Russia) amounted to $ 28 million, which is 8% less than in the first three quarters of 2014. While Russian exports amounted to $ 26 million (growth less than 3%), while imports from Montenegro — $ 2 million (down 61%). Share of Montenegro in the Russian foreign trade in the period January-September 2015 was only 0,007%.

Commodity nomenclature is quite narrow, notes Katyrin, Russian exports about 90% of deliveries are metals and metal products in the Russian import almost 75% of purchases are food products and agricultural raw materials. “Trade, therefore, is not the main factor of economic cooperation of both countries”, — he stressed.

Investment

One of the priority directions of Russian-Montenegrin cooperation in trade and economic sphere, said the head of the chamber of Commerce, an investment partnership. Last year, the amount of accumulated direct investments of Montenegrin (excluding revaluation) in the Russian economy amounted to $ 24 million.

The volume of accumulated Russian direct investments (excluding revaluation) in the economy of Montenegro is $ 1.4 billion, and account for most of the real estate sector. In practice, Russian companies are investing in the economy of Montenegro through its subsidiaries in third countries that is not reflected in Russian statistics.

According to Katyrin, the presence of Montenegrin enterprises in Russia hard to say: “in any case, major projects no.”

“The most important areas of cooperation between Russia and Montenegro are tourism and the real estate market”, — said Katyrin. In the first half of 2015 the largest investors in Montenegro were Russia, the Netherlands and Serbia. In the Russian Federation during this period accounted for 35 million euros.

Tourism and real estate

For real estate in Montenegro of the total volume of foreign direct investment from Russia in the first half, according to the CCI, had 27 million euros. In Montenegro reside about 15 thousand Russian citizens. In addition, real estate owned by the Russians, there are almost 50 thousand units.

“Montenegro hotels, houses and apartments were easy targets for investment Finance due to the unstable situation in the country, loyal to the law and attitudes of the local population”, — said Katyrin.

The most important role in the Montenegrin economy plays tourism: in 2014, the country’s income from it amounted to 20% of GDP. The most active country was visited by tourists from Russia. Last year Montenegro visited their 318,5 thousand (30% of the total). In 2015 the number of Russian tourists visiting Montenegro from January to July increased by 20% compared with the same period last year.

This is due to affordability of Montenegrin resorts, which increased their attractiveness to inflation and the weakening of the ruble in Russia, said the head of the RF CCI.