Rama posted the key moments of the summit, while also highlighting Albania’s commitment to this important political forum.

The prime minister emphasized that Albania’s contributions were received with high regard and serious consideration during the summit discussions.

During a time of profound geopolitical transformations, the discussions focused on strengthening cooperation between European countries, coordinating actions to improve democratic sustainability and advance economic and energy connectivity and security.

The summit was co-chaired by the President of the European Council António Costa and the Prime Minister of the Republic of Armenia Nikol Pashinyan.

By participating in this summit, Albania reinforces its role as a proactive partner in European strategy, contributing directly to a more stable, secure, and united continent. /m.q/j.p/p.s./

Sejko also shared insights into how these developments support Albania’s European Union (EU) integration agenda and create new opportunities for consumers, businesses, and cross-border cooperation.

“The payments ecosystem in Albania has undergone a substantial transformation in the last decade, primarily fuelled by changes in legislation with the transposition of the Payment Services Directive 2 (PSD 2), the penetration of digital services, and the arrival of new actors. New innovative players have introduced payment solutions that are more convenient and cost-effective, fostering increased competition. To adapt to this shift, investments in payment infrastructure have further enhanced the efficiency of payments for businesses and consumers”, said Sejko.

Further on, he said that, “Commercial banks dominate the payments market by providing three-quarters of the total volume of retail payments, but the importance of nonbanks in the retail payments market is increasing. Card payments are currently the most preferred means of retail payments by households, thus making a substantial contribution to a rapid increase in electronic payments. The number of yearly electronic payments per adult has increased six times, while financial inclusion measured by access to a payment account has doubled in the last decade”.

“The expansion of the payment market was also supported by developing infrastructures which offer availability, efficiency, and safety. The BoA has introduced a direct debit scheme based on the SEPA standards and, additionally, implemented an interbank system for domestic euro transfers which is proving beneficial for customers both in terms of costs and time. We recently began the process of upgrading our national payment systems to ISO 20022, aiming to improve safety and interoperability.

The most recent milestone was reached in November 2024 when Albania became part of the SEPA geographical scope. This was the culmination of the considerable progress we had made in aligning our payment legislation with Europe and transforming the payment landscape. As of May 2025, all Albanian banks are registered participants in the SEPA scheme, ready to be operational by 7 October.”

Speaking about the advantages he predicts will come from Albania becoming part of the SEPA geographical scope, Sejko said:

“SEPA schemes are considered the benchmark of payment standards in Europe, and participation is important on many levels. First, it fosters efficient and reliable payment systems for small countries like Albania. By standardising cross-border payments and employing advanced technology, it will be possible to create a more modern payment market in line with European policies, and to increase the penetration of information technology. Second, participation in SEPA is expected to boost trade. Albania’s main trading partner is the EU, with more than half of trade in goods and services routed there. Third, SEPA will not only help formalise remittances but also increase savings and the welfare of families that rely on them. Last, but not least, it means all European visitors will experience similar costs, time, and safety for payments as they would in their home countries.”

To the question of whether the Albanian Central Bank or government have measured the economic impact of inclusion in SEPA and what quantitative benefits are anticipated, the governor said:

“The immediate benefit is a reduction of costs in making cross-border payments with European counterparts, be they business entities or households. We have estimated that savings from the cost of transfers within SEPA will be at least twenty million euros in the first year of operation.

On top of that, eighty percent of around one billion euros of remittances are from the SEPA zone, which are currently made using payment rails that cost five to six percent of the transactions’ value. These costs are expected to reduce at least five-fold when using SEPA schemes. Furthermore, we believe that the benefits from SEPA are amplified by the advantages of having access to a bigger market, easier movement of capital as well as the advantages of being able to meet the objectives under the Growth Plan. An expected shift in consumer behaviour towards digital payments and an increase in financial inclusion are also part of the added value chain. Once these channels are functional and more data become available, we will have further quantitative estimates on the benefits of SEPA. Certainly, these advantages will feed into overall economic growth and make an important contribution to our GDP”, said the governor.

In regard to question on, how have electronic payment methods – such as mobile payments, e-wallets, and online banking – evolved in Albania, and what impact are they having on consumer behaviour and financial inclusion, Sejko said:

“In 2018 the World Bank helped Albania adopt a strategy for the modernisation of payment systems and instruments starting from very low levels of financial inclusion1 through the promotion of innovation, digitalisation, and competition in the market. The new rules, players, and services contributed to an increase of 4.6 times in electronic payments per capita in six years. Now seventy-eight percent of the adult population has at least one bank account, up from forty percent in 2017. The value of cashless payments accounts for roughly two and a half times the country’s GDP. This illustrates the expansion of financial inclusion in the population and growth of formalisation in the economy. Apart from the new Electronic Money Institutions (EMIs), traditional banks have also shown a proactive role in driving the use of electronic payments, with a considerable increase in accounts accessed through the internet (around forty percent).

Even though these figures are significantly behind other parts of Europe, we are sure that participation in SEPA schemes will provide an important boost for digital payments in Albania.”

Speaking about his opinion on Albanian payments sector developing in the near future, Sejko said:

“One of the main objectives for Albania, at least until 2030, is full alignment with the EU acquis in the framework of our EU integration agenda. Our other immediate objective is the establishment of an instant payment system that possibly develops cross-border instant payments within the region, and participation in TARGET Instant Payment Settlement (TIPS). The trend of increasing the use of electronic payments and reduction of cash will continue as the country becomes more accessible to EU markets. We expect financial inclusion and education to expand as we continue to promote financial and digital literacy programmes.” /p.s./

The 11 commercial banks operating in Albania’s banking system have individually prepared their respective applications within a relatively short period of time, aimed at carrying out the first SEPA cross-border transactions at the beginning of October 2025.

This is the earliest deadline set by the EPC, when payment service providers (PSPs) from Albania can begin processing these cross-border transactions denominated in euro via SEPA.

The EPC has approved the inclusion of Albania in the geographical scope of the Single Euro Payments Area (SEPA) payment schemes last November, while the application for adherence of financial institutions to the SEPA payment schemes, starting from April 2025.

Over the course of this period, the Bank of Albania, in collaboration with the Albanian Association of Banks, have intensively guided the banks throughout the application process, serving as the National Support Centre in the Adherence Process.

To this end, the Bank of Albania organized several workshops with experts from the World Bank to clarify the requirements and criteria for the application of each institution, as well as to provide guidance on fulfilling them.

In addition, the Bank of Albania has developed ongoing contacts with the EPC and the banking community to address any identified gaps and to encourage all banks to apply for adherence to the SEPA schemes.

Participation into the SEPA payments schemes brings significant benefits for Albanian consumers and businesses in terms of transfer costs and the expansion of economic activity.

The Bank of Albania will continue to support banks in finalizing the technical adjustments, enabling them to ensure cheaper cross-border transactions for Albanian citizens at the earliest moment.

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The government head highlighted the fact that Albania has hosted a series of international summits and regional gatherings, reflecting the country’s highest ambition and capability, and just a few years ago, such a possibility seemed unimaginable.

PM Rama underlined Albania’s growing diplomatic profile and international respect, saying this is shown by the fact that the country will welcome leaders from 44 European countries at the European Political Community next tear and the NATO Summit in 2027.

“A series of previously unimaginable summits have been organized in Albania and on May 16, next year, we will welcome the leaders of European countries at the European Political Community. Albania is now a country seen with respect and appreciation and this makes us proud and motivated to move forward,” he stated.

Rama also announced that Donald Trump, the US president-elect, will visit Tirana in 2027 as part of the NATO summit. He said that hosting such a high-level NATO meeting was “unthinkable” just a few years ago and that preparations for the summit were already underway in collaboration with the Alliance.

“Hosting the NATO summit in 2027, with the US president in attendance, reflects a remarkable transformation. An infrastructure assessment team has already visited Tirana, highlighting progress that would have been impossible without the achievements of this past decade,” Rama stated.

According to the government head, a rare visit by the US President and other NATO leaders to Tirana is a clear message that underscores Albania’s growing role and the new political position in the international stage.

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The government head will join around 50 leaders of European states, the institutions of the European Union (EU) and other organizations.

Hungarian Prime Minister has set the fight against illegal migration high on the agenda of the European Political Community due on November 7 in Budapest. Participants will also discuss the security situation, the war in Ukraine and the outlook for transatlantic relations.

Orban has already affirmed support for Rama-Meloni deal on the migrant centres in Albania. According to him, Europe won’t succeed in curbing illegal migration unless asylum processing centers are set up outside the EU and every other solution would be just an illusion.

“Increasingly deadly violence is igniting in the Middle-East threatening to further escalate. Conflicts and instability are also on the rise in Africa. Irregular migration and its instrumentalization poses an additional challenge to Europe. We will discussion the security challenges, followed by four breakout sessions on the topics of migration and economic security. The session on migration will cover all aspects of migration, while the one on economic security will also discuss connectivity in terms of energy, transport, IT and also global trade,” reads the invitation letter for the European Political Community summit in Budapest, signed by Prime minister Viktor Orban, Klan TV reported.

Hungary holds the rotating presidency of the Council of the European Union until 31 December. Hungary played a decisive role in calling the second Intergovernmental EU-Albania conference in Luxembourg on October 15, formally opening the accession negotiations on Cluster 1 on Fundamentals.

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“This is another meaningful fact of Albania’s new position in the international arena,” Rama added.

“Until yesterday, not only did no one imagine being respected with the same equality and becoming a European center of activities of the highest political level, but we also were considered a backward Balkan suburb”, the premier Rama underlined.

Prime Minister Edi Rama participated on Thursday at the European Political Community (EPC) summit at Blenheim Palace, birthplace of Winston Churchill, in UK.

The EPC was the brainchild of Macron and involves 20 non-EU nations including the UK as well as the 27-strong EU bloc.

The leaders attended a reception hosted by King Charles III in the palace’s Long Library, which has walls lined by more than 10,000 books.

They also attended a session on migration – co-chaired by Italy’s right-wing leader Giorgia Meloni at the summit in Oxfordshire, southern England.

In addition to the plenary session, leaders discussed and focused on defending and securing democracy, co-chaired by President Charles Michel and Montenegrin President Jakov Milatović. //a.i/