Trade in Balkan, Albania benefited from CEFTA

Official data from the Institution of Statistic show that since the signing of this agreement in 2006, Albania’s exports towards the region have increased six fold.

According to INSTAT, Albania’s trade with the region has increased with a pace twice higher than that with other countries.

If Albanian exports towards Western Balkan countries was 5.7% of the total in 2006, recently it has reached 13.2%.

The open trade agreement has made Albania’s economy more competitive, which has changed the import-export ratio.

For every 100 ALL of imports, Albania sells 47 ALL of exports. For the reason it is even more positive, since Albania sells 84 ALL to countries of the region for every 100 ALL that we buy.

The free trade has created more jobs for the economies, and the European Union says that the integration should be deeper, by even proposing a joint economic area.

Although the details are not fully public, the EU says that the joint economic area will accelerate the economic growth and will create 80.000 new jobs.

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