XII Regional Summit of Central Bank Governors Ministers of Finance and Directors of Tax Administrations in Bečići

13/06/2025

Today, the XII Regional Summit of Governors, Ministers of Finance and Directors of Tax Administrations was officially opened in Bečići, which will last until 14 June 2025, organised by the Serbian Association of Economists and under the auspices of the CBCG and Montenegro’s Ministry of Finance and the Tax Administration.

This prestigious forum, which gathers the highest representatives of financial institutions from the region, and representatives of the European Union and international financial institutions from this year also, was opened by the CBCG Governor, Irena Radović, Director General for Enlargement and Eastern Neighborhood of the European Commission Gert Jan Koopman, and President of the Serbian Association of Economists, Aleksandar Vlahović.

The Governor welcomed the participants on behalf of the host institutions. She emphasised the importance of the Summit as a platform for strategic dialogue in a time of complex global and regional challenges. She highlighted that regional dialogue is vital for improving the region’s countries’ financial stability and economic performance in the context of global uncertainty and constant challenges.

“In a time of complex global disturbances, responses to systemic challenges cannot be individual. Energy security, combating money laundering and terrorist financing, climate and digital risks, the creation of interoperable payment systems - all of this requires coordination and regional dialogue. That is why the XII Regional Summit of Central Bank Governors, Ministers of Finance and Directors of Tax Administrations confirms our institutions’ need for deeper cooperation and operational connection. United around a European perspective, we have the opportunity not only to exchange experiences, but to jointly shape policies which guarantee stability, resilience and growth”, said the CBCG Governor.

In his address, Director Koppman emphasised the importance of the SEPA initiative as one of the key projects from the Growth Plan for the Western Balkans, stressing that the citizens and the economy of the region will have concrete benefits through direct savings, with the realisation of other important benefits, such as reducing costs and risks in business, encouraging investments and suppressing the grey economy. Kopman praised the role of the CBCG concerning the effects of the SEPA accession and expressed the willingness of the European Commission to cooperate further to achieve faster and more comprehensive implementation of this initiative.

The President of the Serbian Association of Economists, Aleksandar Vlahović, said that structural reforms are a condition for faster economic convergence of Western Balkans countries with the EU.

During the working part of the Summit, Governor Radović spoke on two panels, in which governors and vice-governors of the central banks of the countries of the Western Balkans, Croatia and Slovenia, and Ulrich Bindseil is Director-General for Market Infrastructure and Payments at the European Central Bank (ECB) and Matija Laco, representative of the World Bank in the SEPA Steering Committee of the European Commission participated. Their participation confirms the strategic importance of strengthening institutional ties between the Western Balkans and the EU. The panel moderator was the Vice-Governor of the Central Bank of Montenegro, Zorica Kalezić.

At the panel “Sepa and the Wb6: A Catalyst for EU Convergence and Access to the Single European Market”, the Governor emphasised the importance of joining the SEPA system as a strategic step towards digital and financial integration of the region in the EU.

“For Montenegro, SEPA is not just a technical reform - it is a bridge to deeper European integration and modernisation of the financial infrastructure of the Western Balkans. With the strong support of the European Commission, the ECB and the World Bank, our accession to SEPA confirms that Montenegro can lead processes that accelerate digital convergence and strengthen market confidence. At a time when digital interoperability and harmonisation of standards are imposed as a basis for stability and growth, SEPA opens the door for developing the digital euro, strengthening market confidence and accelerating economic rapprochement with the EU”, said Governor Radović.

The panel “Geopolitical Fragmentation and Tariff Pressures: Inflation Risks and Monetary Policy Challenges in the Western Balkans” pointed out that geopolitical fragmentation has an increasingly pronounced impact on small, open economies like Montenegro. In this context, it highlighted the importance of further improving regional cooperation and institutional resilience, with joint efforts towards strengthening financial infrastructure, digital interoperability, greater transparency and fiscal sustainability.

The Summit concluded with a clear message: financial systems must be at the service of citizens - through inclusion, innovation and stability. Only with the joint efforts of the region’s institutions can they shape a more resilient, stable and competitive economic future for the Western Balkans.

Governor Radović's Introductory Statement

Governor Radović Introductory statement's transcript

Statement by Gert Jan Kopman

Gert Jan Koopman Statement's Transcript

Photo album