Albania and Turkey set ambitious trade goal of 2 billion euros
Photo: Recep Tayyip Erdoğan and Edi Rama
Albanian Prime Minister Edi Rama announced today that Albania and Turkey aim to reach a ceiling of 2 billion euros in trade exchanges. The statement came during a joint press conference with Turkish President Recep Tayyip Erdoğan in Tirana.
Why is this important: This ambitious goal comes at a time when the Albania-Turkey relationship has expanded and intensified across various fields. This partnership, strengthened by existing agreements and shared strategic goals, is set to open new opportunities for both nations.
The details: During the meeting, Rama emphasized the growing significance of the trade partnership between the two countries. He noted that the level of trade does not yet reflect the full potential of Albania and Turkey, despite existing agreements like the Free Trade Agreement, which was signed in 2006 and implemented in 2008.
Rama highlighted that trade exchanges between the two nations have already seen a significant rise. In the first eight months of this year, trade reached 69.4 billion ALL (approximately 700 million euros), with Turkish exports to Albania significantly surpassing Albanian exports. Key exports from Albania include minerals, metals, aromatic plants, and textile products, while Turkey exports construction materials, metals, textiles, and footwear.
The number of Turkish tourists visiting Albania also surged by 85% in the first eight months of the year. Rama expressed optimism that tourism, one of Turkey’s strongest industries, would continue to grow, noting the untapped potential for direct Turkish investments in Albanian tourism infrastructure.
Rama reiterated the shared ambition to hit the 2 billion euro trade goal and praised the current collaboration. Erdoğan echoed these sentiments, stressing the need for further investment and partnership, particularly in sectors like tourism where Turkey’s expertise could greatly benefit Albania.
Background information: According to recent reports from Albania’s Institute of Statistics (INSTAT), Turkey is Albania’s second-largest trading partner, accounting for 8.1% of Albania’s total trade volume. In the January-August period, Albanian exports to Turkey amounted to 2.7 billion ALL, while imports from Turkey stood at 66.6 billion ALL. The top import categories include construction materials, metals, textiles, and footwear, reflecting Turkey’s significant influence in these industries.
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