TIRANA, June 20 /ATA/ Turkey is a principal partner of Albania in international trade.
The Institute of Statistics recently published a report on foreign trade for January-May, according to which, Turkey ranks the second largest trading partner, accounting for 7.5% of the volume.
Trade exchanges with Turkey in the first 5 months of this year have reached ALL 49 billion.
Referring to the data for the period January-May, Albanian exports to Turkey increased by ALL 300 million going to ALL 2.8 billion, from about ALL 2.5 billion that were in the 5 months of 2021, while imports for the 5-month period are estimated at ALL 46.4 billion .
ALL 18.1 billion worth of construction materials and metals were imported from Turkey, as well as ALL 7.5 billion of textiles and footwear. Meanwhile, the import of chemical and plastic products is estimated at almost ALL 4.8 billion.
The most exported products are minerals and metals, aromatic and medicinal plants, and custom-made products.
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 customs duties or tariff quotas.
Exports of industrial products of Albanian origin are liberalized. Meanwhile, for agricultural products, the parties have mutually agreed on preferential tariffs and tariff quotas. /j.p/
