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The Free Trade Agreement (2006) that signed between Turkey and the Albania has become the fundamental basis for our bilateral trade relations.
In order to complete the legal framework of bilateral commercial and economic relations, Turkey and Albania have also signed a number of agreements, including Bilateral Investment Promotion and Protection Agreement (1996) and Double Taxation Prevention Treatment (1996).
Economic, Trade, Industry and Technical Cooperation Agreement between Turkey and Albania was signed on 2 August 1988. Within the framework of this Agreement, in order to evaluate and enhance bilateral economic and trade relations, Turkey-Albania Economic, Commercial, Industrial and Technical Cooperation Joint Commission are held with the participation of public institutions from both Turkey and Albania alternately in Ankara and Tirana.
Albania was Turkey’s 70th largest goods export market in 2011.
Turkish goods exports to Albania in 2011 were 271 million $, up 12.4% (241 billion $) from 2010, and up 271% (73 million $) from 2001.
The top export categories (2-digit SITC) for 2011 were: iron and steel (43.6 million $); textile yarn, fabrics, made-up articles (22.8 million $); cereals and cereal preparations (20.5 million $); electrical machinery and apparatus (18.8 million $) articles of apparel and clothing accessories (17.6 million $).
Albania was Turkey’s 88th largest supplier of goods imports in 2011.
Turkish goods imports from Albania totaled 126 million $ in 2011, up 45% (87 million $) from 2010, and up 3050% (4 million $) from 2001.
The top 5 imports categories (2-digit SITC) for 2011 were: iron and steel (106 million $); metalliferous ores and metal scrap (6.2 million $); hides, skins and fur skins, raw (3.4 million $); transport equipment (1.4 million $) and plastics in primary forms (1.5 million $).
Turkey’s trade surplus of goods with Albania was 145 million $ in 2011, a 6.2 % decrease (154 million $) over 2010.
Contracting and Consultancy Services
Albania is a promising market for Turkish contractors. Turkish firms held and are holding 19 projects in Albania with a total value of 717 million dollars up until now.
Turkish foreign direct investment (FDI) stock in Albania was 6 million $ in 2011. Between 2002 and 2011, Turkish FDI stock in Albania was 41 million $.
Reported Turkish direct investment in Albania is led by the telecommunication, banking and constructing sectors.