TIRANA, June 27 /ATA/ Turkey is one of Albania’s principal trading partners.
The Institute of Statistics released the report on foreign trade for the period January-May, according to which, Turkey is the second largest trading partner, accounting for 7.6% of the overall trade volume.
Trade exchanges with Turkey in the first 5 months of this year have amounted ALL 22.7 billion.
Referring to the data for the period January-May, Albanian exports to Turkey increased threefold, going up to ALL 2.5 billion, from about ALL 851 million in the first five months of 2020, while imports for the five-month period are estimated at ALL 30.2 billion.
Construction materials and metals worth All 751 billion ALL were imported from Turkey, as well as textiles and footwear worth ALL 6.7 billion. Meanwhile, the import of chemical and plastic products is estimated at ALL 4.2 billion.
The most exported products are minerals and metals, aromatic and medicinal herbs as well as products of toll manufacturing.
Albania has signed a free trade agreement with Turkey in 2006, which entered into force in May 2008. Under this agreement, the two countries are provided with opportunities to increase trade exchanges between them.
Albanian exporters, under the free trade agreement between Albania and Turkey, are exempt from customs duties or tariff quotas in the regional market.
Exports of industrial products of Albanian origin are liberalized. Meanwhile, for agricultural products, the parties have mutually agreed on preferential tariffs and tariff quotas. /a.a/sm/
