Commissioner Vàrhelyi visits the CBCG

28/02/2024

The CBCG Governor, Ms. Irena Radović, and her team met with the Delegation of the European Commission led by the European Commissioner for Neighbourhood and Enlargement, Mr. Olivér Vàrhelyi, held in the CBCG premises.

Governor Radović thanked Commissioner Vàrhelyi for visiting the CBCG and for the European Commission's support, resulting in national banking regulations' high compliance with the EU acquis.

"The CBCG is highly committed to the process of Montenegro's joining the EU, which the European Commission recognised through its annual country progress reports," said the Governor. She added that CBCG would continue to fulfil its obligations from the negotiation process and thereby contribute fully to achieving Montenegro's strategic objective - membership in the EU.

Commissioner Vàrhelyi conveyed the European Commission's openness to "entering a new phase of negotiations with Montenegro, implying starting the process of closing negotiation chapters". He said Montenegro should "use the opportunity and favourable moment to accelerate its European path".

At the meeting, they discussed the new European Commission's Growth Plan for the Western Balkans, which aims to encourage the Western Balkans countries' economic rapprochement with the EU.

"The Growth Plan for the Western Balkans is an instrument enabling the countries of this region to take advantage of the EU membership benefits before their full accession," Vàrhelyi pointed out, adding that the Plan foresees financial support for accelerating fundamental reforms in the Western Balkans countries. A priority action for the accelerated economic integration of the region refers to the Western Balkans countries joining the Single Euro Payments Area (SEPA).

The Governor informed Mr Vàrhelyi of the CBCG activities to meet the requirements for Montenegro's SEPA accession and prepare the application for SEPA accession, which will be sent to the European Payments Council in the coming period.

The interlocutors agreed that Montenegro should take advantage of the European Union's incentives and implement key reforms in areas of strategic importance for accelerating economic growth and bringing it closer to the EU member states.