Doing Business in Albania

The objectives of the subject “International Trade and Business in” Albania” are the following:

1. To analyze the Albanian Economy and Global Trade;
2. To know the business opportunities in the Albanian market;
3. To analyze the trade relations of Albania with the country of the student;
4. To know the Albanian Trade Agreements;
5. To develop a business plan for Albanian Market.

The Subject “Foreign Trade and Business in Albania” belongs to the following Online Programs taught by EENI Global Business School:

Masters: International Business, Foreign Trade.

Doctorate: European Business, World Trade.

Languages: + Albania Albanie Albânia.

1. Credits of the Subject “International Trade and Business in” Albania”: 1 ;
2. Duration: one week.

Albanian Preferential Access and Free Trade Agreements:

1. Albania and the Central Eurasian Economic Area;
2. Central European Free Trade Agreement (CEFTA);
3. Black Sea Economic Cooperation;
4. Central European Initiative;
5. Adriatic-Ionian Initiative;
6. Regional Cooperation Council (RCC);
7. Albania has not ratified the framework agreement of the Trade Preferential System of the Organization of Islamic Cooperation (TPS-OIC);
8. Albania-Turkey Free Trade Agreement;
9. Albania-EFTA Free Trade Agreement;
10. Albania-EU Stabilization and Accession Agreement
    1. EU-Western Balkans;
    2. EUROMED.

1. WTO
   1. Agreement on Sanitary and Phytosanitary Measures;
   2. Agreement on Trade in Services (GATS);
   3. Agreement on Technical Barriers to Trade;
   4. Agreement on Preshipment Inspection;
   5. Agreement on Safeguards;
   6. Trade Facilitation Agreement.
2. WCO
   1. Revised Kyoto Convention.
3. Convention on the Harmonization of Frontier Controls of Goods (UNECE);
4. CMR Convention (UN);
5. COTIF Convention;
6. International Bureau of Containers and Intermodal Transport (BIC);
7. Chicago Convention (ICAO);
8. International Maritime Organization (IMO)
   1. Convention for Safe Containers;
   2. Istanbul Convention.
9. Customs Convention on Containers - not a member;
10. Organization for Cooperation between Railways (OSJD);
11. CIM, CIT Rail Rules;
12. Hamburg Rules;
13. International Road Transport Union (IRU)
    1. TIR Convention;
    2. Guidelines on Safe Load Securing for Road Transport.
14. ICC.

1. UNECE;
2. OSCE;
3. Group of States of the European Council Convention against Corruption.

Islamic Organizations:

1. Organization of Islamic Cooperation (OCI)
   1. Islamic Chamber of Commerce;
   2. Islamic Centre for Development of Trade;
   3. Committee for Economic Cooperation (OIC-COMCEC).
2. Islamic Development Bank;
3. Albania is beneficiary of the Arab Development Funds.

Global Organizations:

1. UN
   1. UNCTAD;
   2. ITC;
   3. WIPO.
2. WB;
3. IMF.

The Republic of Albania (Europe).

1. Capital of Albania: Tirana;
2. Official Language: Albanian;
3. Area of Albania: 28,748 km²;
4. Albanian Population: 2.7 million people;
5. Type of Government: Parliamentary Republic;
6. Borders of Albania: Greece, Montenegro, Kosovo and the Republic of Macedonia;
7. Independence of Albania: 1912 (Ottoman Empire);
8. In 1991, the Socialist Republic of Albania became the Republic of Albania.

Religion in Albania:

1. Islam (Sunnis): 79%
   1. Albania has signed the Cairo Declaration on Human Rights in Islam;
   2. Fiqh (Islamic Jurisprudence): Fiqh-al-Hanafi.
2. Orthodoxy (Christianity).

Albania, despite being an European country, we will also assign to the Islamic Civilization (Central Eurasian Economic Area).

Albanian Economy.

1. The Republic of Albania is a transition economy;
2. During the communist period, Albania was the most closed and planned country of all, and its effects are still remarkable;
3. The organized crime and corruption is a serious problem in Albania;
4. Albanian GDP (nominal): 30,660 million dollars;
5. GDP per capita: 11,885 dollars;
6. Currency of Albania: Albanian Lek;
7. Albania has the largest oil reserves (on land) in Europe;
8. Albania is the third world chromium producer (10% of the world's total);
9. Mining: 40% of the Albanian GDP;
10. Entry of foreign investment in sectors such as energy and Transport infrastructures;
11. The main sectors of the Albanian Economy are agriculture, food processing, wood, petroleum, cement, chemical products, mining, base metals, hydroelectric power, tourism, textile industry, and footwear;
12. Albania is rich in natural resources, has valuable copper, iron and nickel mines;
13. Albania requested accession to the EU in 2009 (EU Enlargement).

Albanian Foreign Trade.

1. Albanian exports have increased by 300%;
2. The main Albanian exports are textiles and footwear, asphalt, metals and metal minerals, petroleum, vegetables, fruits, and tobacco;
3. Top Albanian exports destinations are Italy (43%), Kosovo, the U.S., and China;
4. The main Albanian imports are machinery, food products, textiles, and chemical products;
5. The main suppliers of Albania are Italy (33%), China, Greece, and Turkey.

Albania-Turkey Free Trade Agreement.

(c) EENI Global Business School (1995-2023)
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