The administrations and agencies for state property and seized property management signed a memorandum of partnership

The administrations and agencies for state property and management of confiscated property of several Balkan countries signed a Memorandum of Partnership and Cooperation in Podgorica.

This, according to the Montenegrin Administration headed by Koča Đurišić, will define future partnership mechanisms and forms of cooperation.

"The Multilateral Memorandum of Partnership and Cooperation was signed by the State Property Administration of Montenegro, the Federal Agency for the Management of Confiscated Property of the Federation of Bosnia and Herzegovina, and the Agency for the Management of Confiscated Property of the Republic of North Macedonia. This memorandum is the result of many years of successful cooperation with international partners who have recognized the importance of the work and potential of the State Property Administration and the Sector for the Management of Confiscated Property," the Montenegrin Administration announced.

The memorandum was reportedly signed after the "Peer Review" process of evaluating Montenegro.

"The Peer Review process is being implemented with the support of the component for combating illicit financial flows within the framework of a project funded by the European Union. The Peer Review team for the assessment of Montenegro, consisting of experts in asset management, assessed that Montenegro, the State Property Administration, has made great progress in its work and significantly improved its performance in asset management through the application of European standards, which resulted in a partnership in the form of the signing of a multilateral Memorandum between Montenegro, Bosnia and Herzegovina and North Macedonia," the statement reads.