TIRANA, Nov. 25 – Greece’s Thessaloniki International Fair (TIF) has re-entered the Albanian market with the participation of 70 Greek enterprises at the Albanian International Fair held from November 25 to 30 in the Tirana Palace of Congresses.
The Chambers of Halkidiki, Pieria, Kozani, Kastoria and Larissa as well as the Thessaloniki Chamber of Commerce and Industry and enterprises from the cities of Halkida, Ioannina, Serres, Kilkis and Athens also attended the fair.
Albania’s International Fair covered sectors such as building and construction, alternative energy sources, and the metal industry, tourism, agriculture and food industries.
The fair attracts 30,000 visitors from 20 countries every year and hosts over 300 foreign exhibitors.
Last week, the Greek embassy in Tirana also organized the 5th Greek-Albanian Business Forum.
IMF warns of Eurozone risks
Uncertainty emanating from the euro-area periphery is the key near-term vulnerability, warns the IMF. Albania has large trade, labor-market, and banking-system links with Greece and Italy. Especially the latter two links could result in substantial spillovers with banking-system contagion potentially the most severe near-term risk, while sharply lower remittances could result in a significant GDP shock. Exports may slow down in a less buoyant global outlook and private domestic demand could falter. High public debt, rollover risks, and interest costs also leave the country exposed to a downturn in investors’ risk appetite, with knock-on effects on confidence in the financial system. On the upside, higher foreign demand and capital inflows could lead to a stronger recovery of domestic demand and an improved political situation may boost confidence. Data show Albania’s exports to the Euro area account for 72.3 percent of the total of which 8.4 percent in neighboring Greece and 48.8 percent in Italy, which are in severe financial trouble. Albanian imports from the Euro area also constitute the majority 61.6 percent of which 33.4 percent from Italy and 13.6 percent from Greece. Bank assets from the Euro area also make up 73.3 percent with Greece possessing 20.4 percent and Italy 13.2 percent.
