“Albania has resources to explore in every corner. It has a favourable geographical position and is the Balkan hub to West and East,” said Prime Minister Sali Berisha adding that unwavering determination between the Albanian and Chinese governments for new dimensions of cooperation and friendship has already been proved.
TIRANA, May 9 – Once the key ally in the 1970s, Albania is once again looking to boost economic relations with China as an emerging superpower that could help Albania in its road to development. Chinese government officials and private investors are also showing rising interest in Albania which is proved by the more frequent visits by senior officials and business representatives.
This week was exactly the case when an Albania-China economic forum opened the 5th edition of the international technology and investment trade fair in Tirana on May 9. Representatives of more than 100 Chinese companies operating in energy, chemical, food and mechanical industries, telecommunications, transport, machinery and technology participated in the fair mulling over possible investments in Albania which will increase their presence also in South-East European markets.
Addressing the forum, Prime Minister Sali Berisha invited Chinese companies to seriously consider investing in renewable energy and mining, offering government support.
“Albania has resources to explore in every corner. It has a favourable geographical position and is the Balkan hub to West and East,” said Berisha, adding that unwavering determination between the Albanian and Chinese governments for new dimensions of cooperation and friendship has already been proved.
Hailing Chinese assistance in the construction of Albania’s biggest hydropower plants in the 1970s, Albanian Economy Minister Nasip Naco said plenty of investment opportunities exist in the renewable energy, oil, and mining sectors.
The Economy Minister offered Chinese companies concrete concession opportunities in the Albanian Railways, Vlora Port, 520 hectares of state-owned land in the Spitalle industrial park in Durres for a symbolic 1 Euro, the privatization of Albpetrol, and investments in the small and medium-sized HPPs.
Albert Rakipi, an international relations expert and executive director of the Albanian Institute for International Studies (AIIS) says it is in Albania’s interest to intensify relations in economy but also in other fields with a superpower like China which will help development. Former traditional cooperation should be given a new impetus considering that the political and economic context for both Albania and China have changed, says Rakipi.
Before the start of the trade fair on May 9, the Chinese representatives also met Tirana Mayor Lulzim Basha and were acquainted with investment opportunities in the Albanian capital.
“The trade fair with the participation of Chinese industrialists and their Albanian partners opens up a new chapter for the contribution of Chinese capital in Tirana’s economic growth and investments which are translated into the creation of more jobs for Tirana citizens and especially youth,” said Basha who signed a cooperation deal with China’s Nanjing Municipality.
Nikolin Jaka, the chairman of the Tirana Chamber of Commerce and Industry said that the Canton Fair held in mid-April this year provided a good opportunity for Albania to further enhance its economic cooperation with China.
During recent years China has become one of Albania’s main trade partners, especially for Albanian exports. INSTAT data show China was the third main destination for Albanian exports in 2010, accounting for 5.5 percent of total exports. Trade volumes with China were valued at 28.7 billion lek in 2010 having experienced a 7 percent increase Trade exchanges further increased in 2011 when exports rose by another 36 percent and imports by 19 percent, according to the Economy Ministry.
Exports to China are represented mainly by mineral products.
