TIRANA, Dec 24 /ATA/ Turkey is one of Albania’s main trading partners.
The Institute of Statistics recently published a report on foreign trade for January-November, according to which, Turkey ranks the second largest trading partner, accounting for 7.8% of the volume.
Trade exchanges with Turkey in the first 11 months of this year have amounted to ALL 81 billion.
Referring to the data for the period January-November, Albanian exports to Turkey increased 2.5 times, going up to ALL 5 billion, from about ALL 2.4 billion in the 11-month period of 2020, while imports for the 11-month period are estimated at ALL 76.4 billion.
All 20 billion’ worth of construction materials and metals were imported from Turkey, as well as ALL 17.4 billion worth of textiles and footwear. Meanwhile, the import of chemical and plastic products is estimated at almost ALL 10 billion.
The most exported products are minerals and metals, aromatic and medicinal herbs, and apparel.
Albania has signed a free trade agreement with Turkey in 2006, which entered into force in May 2008. Through this agreement, the two countries are provided with opportunities to increase trade exchanges between them.
Albanian exporters can benefit from the free trade agreement between Albania and Turkey, which gives them the opportunity to export a number of Albanian products to the regional market without being subject to customs duties or tariff quotas.
Exports of Albanian origin industrial products are liberalized. Meanwhile, for agricultural products, the parties have mutually agreed on preferential tariffs and tariff quotas. /a.a/sm/
