Albania’s exports to EFTA states rising

TIRANA, March 14 – Albania’s exports to EFTA states have marked considerable progress especially following the entry into force of the free trade agreements with Switzerland and Liechtenstein as of November 1, 2010. Speaking at a recent seminar on promotion of Albanian exports to EFTA states, Economy and Trade Minister Nasip Naco said exports to European Free Trade Association states increased to 50 million euros in 2010, up from 9.3 million euros in 2009 and 3.2 million euros in 2008.
“In 2010 Albanian exports to EFTA countries accounted for 4.2 percent of total exports, registering considerable increase and unveiling the potential to export more,” said minister Naco.
Albania’s main trade partner among the four EFTA member states is Switzerland. Appreciating the free trade agreement, Swiss Ambassador to Tirana Yvana Enzler encouraged its implementation so that the benefits of both countries increase.
Albania’s free trade agreement is currently in force only with Switzerland and Liechtenstein. For Iceland and Norway, it will become effective after completion of the respective ratification procedures, EFTA said in a statement
The free trade agreement among the four EFTA states and the Republic of Albania was signed on 17 December 2009. Its focus lies on the liberalization of trade in goods. All customs duties on industrial products, including fish and other marine products, are abolished as of the entry into force of the agreement. Bilateral arrangements on agricultural products between the individual EFTA states and Albania also form part of the instruments establishing a free-trade area between the parties. Provisions on the protection of intellectual property rights, on services and investment, and on public procurement complement the agreement.
In 2009, total merchandise trade between EFTA and Albania amounted to USD 41 million. Exports from the EFTA states consist mainly of pharmaceutical products, machinery, tobacco and electrical machinery. The EFTA states’ leading imports from Albania are footwear, electrical machinery, mechanical appliances, grains and seeds, and woven apparel.