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World Bank: Albania is not immune to Turkey, global trade tensions

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7 mins read
8 years ago
Durres Port, the country's largest
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TIRANA, Oct. 9 – Albania is almost immune to current global trade tensions between leading economies and Turkish market volatility to the Western Balkans, but a possible escalation of trade conflicts between key players could also affect the small Albanian economy as it did in the aftermath of the 2008-09 global financial crisis. Due to stronger trade and investment ties with Turkey, a possible escalation of the crisis in Turkey, where the Turkish lira has lost about 40 percent of its value against the US dollar this year could affect Albania more than the current round of trade disputes involving…

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Story Highlights

  • Examining the channels for the transmission of Turkish market volatility to the Western Balkans, a recent World Bank report shows Albania is little exposed in terms of exports, but to a higher degree if imports, foreign direct investment and the banking sector assets are concerned

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Prof. Dr. Alaa Garad is President and Founding Partner of the Stirling Centre for Strategic Learning and Innovation, University of Stirling Innovation Park, Scotland. He is actively engaged in health tourism, higher education and organisational learning across the Western Balkans, including the Global Health Tourism Leadership Programme in Albania.

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