Podgorica, (MINA-BUSINESS) – It was concluded at a conference in Podgorica that clear rules for foreign investment, an end to signing non-transparent bilateral agreements, and an effective fight against corruption and organized crime are prerequisites for Montenegro to adequately protect itself when it comes to foreign investments.

Speaking at the conference “Montenegro’s Legal Framework, Foreign Investments, and Strategic National Goals”, organized by the Centre for Investigative Journalism of Montenegro (CIN-CG), Professor Caslav Pejovic stated that the agreement with the United Arab Emirates (UAE) is highly problematic and unconstitutional.

He warned that any company registered in countries with which Montenegro has signed agreements containing a Most-Favoured-Nation (MFN) clause could sue Montenegro if it does not receive the same conditions currently granted to UAE companies.

According to a press release fromCIN-CG, Pejovic noted that Serbia and the Netherlands have signed agreements with Montenegro that also include this clause.

“The bilateral agreements Montenegro signs allow foreign companies and investors to sue the state. These agreements do not include clauses that protect the country,” Pejovic explained.