Albania and Saudi Arabia, two nations with vast geographical differences but a shared vision for the future outlined in their respective "2030" plans, recently convened in Tirana to forge collaborative pathways.
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| Ines Muçostepa and Hasan Mujeb Al-Huëaizi while signing one of the agreements |
"Albania has taken significant steps towards improving its business climate to attract foreign investors. Additionally, our country has ample potential for investment in tourism, clean energy, and infrastructure," expressed Minister Gonxhja.
The invitation extended by Minister of Economy, Culture, and Innovation, Blendi Gonxhja, was warmly received by the Chairman of the Saudi Chambers Federation.
"We have signed several agreements in the fields of infrastructure, justice, and trade. We have also reached consensus on double taxation avoidance and combating evasion. Trade exchanges with Albania have quadrupled in recent years," stated Hasan Mujeb Al-huëaizi, Chairman of the Saudi Chambers Federation.
Data from the Statistical Institute indicates that while trade exchanges amounted to just over 11 million euros in 2018, last year saw a significant increase to 44.5 million euros.
Of this total, 40 million euros were imports, while Albanian companies exported products worth only 4.5 million euros.
"We have all the potential to develop economic cooperation and intensify trade exchanges," remarked Ines Muçostepa.
Minister of Agriculture, Anila Denaj, also briefed 50 Saudi entrepreneurs on another sector she believes holds considerable investment potential.
"Medicinal plants garner significant interest worldwide, representing a sector that has experienced notable growth," declared Denaj.
Currently, 55 companies from Saudi Arabia operate in Albania, with ambitions to double this number in the next two years.
The discussions in Tirana signify a burgeoning partnership between Albania and Saudi Arabia, demonstrating the mutual benefits of collaboration and investment in diverse sectors. As both nations look to expand their economic horizons, such partnerships pave the way for a prosperous future built on shared goals and mutual growth.