Hispanic-Albanian chamber of commerce established

TIRANA, Oct. 1 – Having emerged as the second most important destination of Albanian exports in the past couple of years, Spain is looking to strengthen its economic cooperation with Albania.
Eduard Hyseni, the president of the newly established Hispanic- Albanian Chamber of Commerce in Madrid, says Spanish companies successfully operating in the Balkan region are interested in infrastructure, technology and agriculture investments in Albania.
“Infrastructure, energy, technology, education are the priority areas of this institution which was established in September this year, targeting to bring further development and employment in Albania,” Hyseni was quoted as saying by local media.
Spain has emerged as the second most important destination of Albanian exports mainly due to oil exports by Canadian-based Bankers Petroleum. Data published by the country’s state statistical institute, INSTAT, shows Albania’s exports to Spain, which are mainly a result of crude oil exports by Bankers Petroleum and accounted for around 11 percent of the total, rose to 24 billion lek (Euro 169 million) in 2013, up from around 20 billion lek (Euro 138 million) in 2012 when it emerged as the country’s second most important destination of exports.
Meanwhile, imports from Spain remain negligible, and dropped to around 8 billion lek (Euro 56) in 2013, down from 10 billion lek (Euro 72 million) in 2012.
Spain’s interest in the region has recently increased with its Enagas company which has acquired a 16 percent stake in the Trans Adriatic Pipeline bringing Caspian gas to Europe through Greece, Albania and Italy.
Since the onset of the global crisis in 2009, Spain has been one of the most affected Eurozone countries, suffering four years of recession.