Seoul: South Korea and Montenegro are preparing to enhance their economic collaboration with a new bilateral agreement set to be enforced in March, as announced by Seoul’s foreign ministry on Thursday. The agreement, scheduled to take effect on Saturday, aims to establish a legal framework for practical cooperation in sectors such as energy, tourism, and investment.
According to Yonhap News Agency, the agreement will facilitate the formation of a joint committee dedicated to the effective implementation of the pact and exploring avenues to strengthen economic ties. This initiative is anticipated to enable more South Korean enterprises to enter the Montenegrin market and address the trade imbalance between the two countries over time.
In addition to Montenegro, South Korea has established economic cooperation agreements with 98 other nations, reflecting its ongoing efforts to expand international economic partnerships.