Israeli companies want increased trade with Albania

TIRANA, Sept. 4 – Many Israeli companies like Paz Oil Company Ltd., Pazgaz Ltd., Clal Industries and Investments Ltd. (TASE: CII), Ashtrom Properties Ltd. (TASE:ASPR), Bateman Engineering NV (AIM:BTE) , Nesher Cement Enterprises Ltd, Tahal Group, Discount Investment Corporation (TASE: DISI), Tandu Technologies & Security Systems Ltd. and other ones, would like to expand their business in Albania, according to Export Institute chairman David Arzi. Later this week there would be held a meeting between the companies’ representatives and Albania’s Minister of Economy Trade and Energy Gence Ruli and the head of Albania’s investment center, who will present government-backed priority infrastructure projects.
Exports Institute international projects manager Itzhak Rozen said infrastructure projects in Albania could reach hundreds of millions of dollars. There were many opportunities for Israeli companies in Albania in oil and gas, energy, communications, real estate, agriculture and agroindustry, and transport. Estimates about possible expansion of infrastructure projects in Albania are belied by an 80% drop in Israeli industrial exports, excluding diamonds, in the first half of the year to $590,000. Most exports comprise plastic and rubber products, pharmaceuticals, chemicals and refined oil products. Thirty-one Israeli companies are currently active in Albania, mostly plastic sheeting and piping and refined oil products. The number of Israeli exporters to Albania is down 9% from 2004.