The region has the strength, knowledge and resources to succeed, which requires strategic planning, institutional consistency and trust among partners, said the President of the Chamber of Commerce (PKCG), Nina Drakić.
"We must create a predictable business environment in each of the countries in the region, strengthen legal certainty, encourage investments, invest in innovations and open up space for young and creative people," said Drakić at the Montenegro 2025 Economic Conference, which, organized by the Chamber of Commerce and Industry of Montenegro, began today at the Splendid Hotel.
According to her, the economy is the driver of development, but institutions must be its support - that is their obligation.
"Only in this way can we create economies that are resilient to crises, capable of transforming and being competitive in a rapidly changing world," said Drakić.
The Chamber of Commerce and Industry of Montenegro announced that the two-day conference, which is being held on the topic of the Economy of the Region in Today's Challenges, brought together more than 400 participants from Montenegro, the region and the EU - representatives of the economy, institutions, and the academic community.
Drakić assessed that this gathering, which has been held since 2010, has grown into a recognizable regional forum for dialogue between businesses, experts and policymakers, and that its duration shows that a shared vision, knowledge and cooperation can become a driving force for development - not only at the national, but also at the regional level.
She pointed out that we live in a time that brings numerous challenges and opportunities, and the ability to adapt, collaborate and think ahead is becoming a crucial factor in competitiveness and stability.
Economic indicators, according to Drakić, clearly confirm that the region is recovering, but urgent measures are necessary to strengthen human capital, as well as to make digital, technical and green skills the basis of every school curriculum, "because only in this way can we build a competitive and resilient economy of the future."
Regional cooperation should be recognized as the most important resource, because in a world where economic forces are regrouping and global value chains are changing, small economies like ours cannot afford to act in isolation.
Drakić stated that integration, mutual trust and joint projects are the only path to a larger market, growth and investments.
The Western Balkans, she said, must speak one economic language, and that language is stability and cooperation.
"The fact that Montenegro's integration into the EU is being announced must further accelerate us, because the goal is for our economy to be ready for the single market, and it can be as ready as the business environment is conducive to its development and strengthening, but also as ready as it is to work on its own development," added Drakić.
The Secretary General of the International Chamber of Commerce (ICC), John WH Denton, pointed out that this year's conference theme is extremely topical, and that it comes at the right time.
"Around the world, companies are facing deep uncertainty, geopolitical tensions, supply chain disruptions and accelerating digital trends. All of this is directly impacting regional economies, shaping opportunities, testing resilience and requiring bold responses," said Denton.
He recalled that ICC represents more than 45 million companies in more than 170 countries.
"We are the most inclusive business organization in the world, we don't just participate in conversations, we listen, we research, and we use our influence to implement concrete solutions," Denton emphasized, adding that they empower businesses and entrepreneurs to seize opportunities and to innovate and grow in a sustainable, inclusive, and resilient way.
During the first panel on the impact of global economic trends on the region, moderator Vojin Golubović from the Institute for Strategic Studies and Prognosis pointed out that the world economy is entering a phase of slower and regionally uneven growth, and the global map of production is changing due to trade wars, green and digital transitions that are redirecting global investments and labor market needs.
"The ever-faster diffusion of artificial intelligence has enormous potential to redefine economic power and lead to new economic colonialism and economic classes," said Golubović.
The President of the Association of Economists of Serbia, Aleksandar Vlahović, said that the economic data for the region is bleak.
"We are still revolving around a growth rate that does not allow us to converge more quickly with the EU, or even with its members from Central and Eastern Europe," said Vlahović.
In order for the region to achieve higher rates of economic growth, Vlahović believes that growth should not be based on traditional sectors, and that an institutional framework must be established that enables the perception that this is an area with low investment risk.
"The EU is the most successful project for improving the standards of its member states' residents, and therefore there is no alternative for us, because the region shares the EU's values," added Vlahović.
Professor Emeritus Ljubo Jurčić from the Croatian Association of Economists, reflected on current economic changes, emphasizing that they are increasingly shaped by political and geopolitical factors, not exclusively economic ones.
"If we want to position our countries in the long term, we must understand the essence of these changes," Jurčić emphasized.
He added that Europe functions almost exclusively as a market for goods and services, and whose goods will dominate that market depends on national economic policy.
Jurčić believes that all countries must develop production that can be competitive within the EU, because membership in the Union alone is not enough to ensure economic development.
Economic analyst and lecturer at the University of Sarajevo, Faruk Hadžić, said that the region must seriously approach demographic changes and digital transformation, so as not to remain "trapped" in low economic growth rates.
He sees digital transformation as one of the potentials that could, in some way, influence growth rates.
"Digital transition is a transformational potential. In this way, we can attract investments and by acting together we have the potential for growth. Networking the region is key because the region is a small market, but if common digital standards are applied then we have the potential," said Hadžić.
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