China assists Albania with 1 million Euro grant

TIRANA, June 28 – The Chinese government will assist Albania under a 10 million Chinese juan (Euro 1 million) grant to help the country’s economic and social development. The deal was signed on Monday in Tirana by Zhong Shan, China’s vice minister of commerce and his Albanian counterpart Eno Bozdo, who described China’s assistance as significant for the good economic and political relations between the two countries. Praising current Chinese investments in mining and telecommunications, government officials said Albania was very interested in attracting Chinese investments in the energy sector, especially renewable energy, light industry and infrastructure Albania’s deputy economy and trade minister said both parties had agreed to draft an intensive working plan to increase information exchanges and contacts between Chinese and Albanian businesses. During a meeting with Prime Minister Sali Berisha, Zhong said the Chinese government places great importance on the relations between the two countries and that China regards Albania as one of its most important partners in the Balkan region. Zhong said the purpose of his visit was to deepen the friendship of the two peoples and further develop the bilateral economic and trade relationship. According to Berisha, the last few years have witnessed significant progress in bilateral relations. He welcomed China’s enterprises to invest in Albania, citing rich mineral, hydro-power, and tourism resources. 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. Exports to China reached 8.8 billion lek rising by 81 percent compared to 2009. Exports to China are represented mainly by mineral products which account for 99 of total exports.