Istanbul Economic Summit: Joint action necessary to solve the global supply crisis

08/12/2022

The Governor of the Central Bank of Montenegro (CBCG), Radoje Žugić, is a speaker at the 6th Istanbul Economic Summit, held on 8 and 9 December.

Supply chains, trade, transport, tourism, innovations and transformations in energy, and their effect on the global economy, are the main topics of this year’s Summit. The Summit message was that sustainable global economic development requires individual countries to manage their development in a way that does not threaten the ecological balance. The participants agreed that a better future requires increasing renewable energy production, and every country should contribute to the fight against climate change by initiating and implementing environmentally acceptable activities.

As a speaker at the global value chains panel, Governor Žugić pointed out that “banks contribute to the good value chains functioning through developing new technologies and the digitising their services.” Respecting the ecological criteria and the green economy principles, banks also focus on preserving the environment, Žugić pointed out. He added that the CBCG encourages banks in Montenegro to support climate-oriented investments and those intended for industry’s decarbonisation and recognise and take advantage of the opportunity to develop new products in new circumstances.

The annual Istanbul Economic Summit aims to maintain and strengthen coordination between countries, sectors and institutions and is one of the most respected platforms for discussing the global economy.