Tivat, (MINA-BUSINESS) – Representatives of Montenegro and Spain signed an agreement in Tivat today on the avoidance of double taxation and the prevention of income tax evasion, opening a new chapter in economic cooperation between the two countries and further strengthening their partnership.

The Ministry of Finance said in a press release that the agreement was signed during the EU–Western Balkans Summit by Minister of Finance Novica Vukovic and Spanish Ambassador Juan Jose Sanz Aparicio, in the presence of the prime ministers of the two countries, Milojko Spajic and Pedro Sanchez.

“The signing of the agreement sends a strong signal to the international business community that Montenegro continues to build a stable, predictable, and competitive economic environment based on the principles of legal certainty, tax transparency, and international best practices,” the Ministry said in a statement.

Vukovic said the agreement with Spain is further confirmation that Montenegro is successfully implementing reforms and building a system fully aligned with European and international standards.

“At a time when our country is hosting one of the most important political events in the region, we are sending a clear message that Montenegro is not only a candidate for EU membership, but a country that is already translating European standards into concrete policies and results,” Vukovic said.

The Ministry stated that the agreement with Spain forms part of the Montenegrin Government’s broader policy of strengthening international economic cooperation, attracting high-quality investment, and creating a regulatory framework that encourages growth, competitiveness, and sustainable development.