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Economy

"Albania and China aim to intensify cooperation"

  • 4/7/2021 3:02 PM
"Albania and China aim to intensify cooperation"

Economic and trade cooperation with China is aimed not only at increasing trade exchanges between the two countries, but also at a growing interest of private businesses, writes "RTSH". In an online conference, more than 60 local businesses expressed the need for cooperation and mutual exchange with Chinese companies. These include sectors such as industry, including electronics and electrical appliances, lighting equipment, vehicles, machinery, physical hardware, energy, building materials, medical equipment and even health products, food, footwear, textiles and clothing.

Albanian businesses discussed with the authorities, including representatives of the Chinese Embassy in Tirana, but also the conference organizers of the China Foreign Trade Center and the Canton Fair.

China is now the European Union's largest trading partner in 2020.

China-EU trade was worth $ 709 billion last year. INSTAT data show that machinery and electrical equipment and their parts are the most imported group from China, with a value of over 100 million euros in 2019. According to INSTAT data, trade with China over the past year expanded mainly in terms of imports, which amounted to over 450 million euros. China is our country's third largest import partner.

Garments are the fourth and fifth group of the most imported goods from China for the Albanian market with a value of 5.2 billion ALL, with an increase of 17% compared to 2018.

/Klara Ruci/