Economy

SHell confirms the potential of a significant oil discovery in Albania

The well-known company Shell has confirmed in a recent statement the potential of a significant oil discovery in Albania. The first tests of Shell Upstream Albania B.V. (Shell) in the Shpirag-4 well near Berat, confirm the potential of oil discovery. The recoverable oil volume from Shpiragu should be further defined through other valuation activities. It was in 2012 when Shell ...

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Albania soon to export animal origin products towards China

  Albania is expected that within 2019 to start the export of the products of animal origin towards China. The news was made public by the Minister of Agriculture Bledi Çuçi, during his visit in China with his homologue, Han Chang.  Minister Çuçi was assured by his Chinese counterpart that the process will move forward and within 2019 will be ...

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Economic Forum, Albania – Kosovo Trade Relations

Kosovar entrepreneur’s representatives attending the Forum “Opportunities and Challenges of Trade Relations between Albania and Kosovo”, addressed voiced their concern on issues that according to them are hindering the trade exchanges between the two countries and are particularly penalizing  Kosovo businessmen.In response to these concerns, Finance Minister Anila Denaj focused on the scanning fee pledging to kick off negotiations with ...

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The European Union has allocated 650 mln Euros to Albania.

  EUR 650 million is the fund that the European Union has provided for Albania in six years. Deputy Foreign Minister Sokol Dedja after a technical meeting on the efficiency of their use stated that many sectors such as administration, food safety or the environment have benefited from these funds. Regarding the opening of negotiations, Dedja said that the decision ...

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WB has has so far provided $ 20 million for road maintenance project

The World Bank announced that over $ 20 million has been given so far for the performance-based road maintenance project, while the total project is supported by this institution at $ 80 million. In the last revision of the project, the Bank did not give much detail but warned that a full review of results would be delivered in mid-June ...

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Jaka:Opening the negotiations is necessary, though costly for business

‘The opening of the negotiations for Albanian entrepreneurship is undoubtedly an encouraging signal and increases the confidence of domestic and foreign investors, which in turn creates grounds for employment growth and economic growth, but on the other hand, Albanian producers will also be exposed more to the risk of high competition from European goods,’ that is the statement issued by ...

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EU:Albania should deepen public administration reform and fiscal consolidation

The European Union has urged Albania to deepen public administration reform and fiscal consolidation in order for the country to mark a steady economic growth. The request was filed during the meeting of EU Finance Ministers with their counterparts from the Western Balkans and Turkey. Politicians’ Recommendations agreed upon for Albania focus on pursuing fiscal consolidation, improving public finance transparency ...

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President Meta: The political crisis will have a negative impact on economy

Albanian President, Ilir Meta expressed his concern that the political crisis in Albania is bringing severe consequences in the country’s economic sector and urged the parties to reflect immediately. President Meta made these declarations during the opening ceremony of the touristic season in the city of Skrapar. ‘’Unfortunately, the political crisis in Albania is being reflected in the economy. The ...

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Balluku in Washington, intensive meetings with WB Directors on new projects

Minister of Infrastructure and Energy, Belinda Balluku, during an official visit to the World Bank headquarters in Washington, has been holding intensive meetings with WB sectorial directors for important ongoing projects such as the “Recovery plan in power sector” and water management.In the meetings with the senior WB leaders, the current performance of joint projects between the Albanian Government and ...

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Minister of Agriculture, Çuçi; Albanian products are safe

The Minister of Agriculture and Rural Development, Bledi Çuçi declared that the Albanian agricultural products that are bound for export are safe and tasty. ‘’Our products are 100% secure. Albanians should be proud for these product that are delivered all across Europe’’- declared Minister Çuçi during a visit on farm in the village of Bishan, Vlore. The minister inspected closely this ...

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