Page 224 - MOE ENGLISH PR REPORT- NOVEMBER 2024

11/27/24, 2:10 PM UAE and Albania convene inaugural Joint Economic Committee in Tirana
Albanian Minister of Economy, Culture and Innovation; and Albanian Deputy Ministers of Economy,
Culture and Innovation Sokol Duma and Enkelejd Musabelliu.

“The UAE and Albania enjoy a growing strategic partnership, driven by a shared commitment to
fostering economic growth and sustainable development,” said HE Al Zeyoudi. “The launch of the
Joint Economic Committee provides a vital platform to turn our shared vision into tangible results. By
aligning our priorities in key sectors such as renewable energy, logistics, agriculture, and advanced
industries, we are building a foundation for deeper collaboration that benefits both nations.”

He added, “The UAE, with its advanced infrastructure, global connectivity, and business-friendly
policies, has become a gateway to international markets. This presents a unique opportunity for
Albanian businesses to expand their reach, tap into new markets, and leverage the UAE’s
competitive ecosystem. Equally, we recognize the vast potential that Albania holds for UAE
businesses. With its strategic location, dynamic economy, and commitment to regional integration,
Albania offers promising prospects for UAE companies to invest and contribute to its development.”

From the Albanian side, Her Excellency Belinda Balluku said, “The convening of the first session of
the UAE-Albania Joint Economic Committee reflects our deepening bilateral relations and shared
commitment to accelerating joint economic growth. With the aim to enhance cooperation in key

strategic areas from renewable energy and logistics to tourism and agriculture, the meeting aims to
deliver tangible benefits and sustainable development for both nations. We look forward to advancing
our dynamic partnership to ensure it continues to address current challenges while seizing future
opportunities."

Strategic sectors and new growth frontiers Discussions during the meeting centred on advancing joint
projects in renewable energy, logistics, infrastructure, and agriculture. The UAE’s Masdar and
Albania’s KESH announced plans to collaborate on clean energy projects, targeting up to 3 gigawatts
of solar and wind capacity, with an initial 100-megawatt solar plant set to launch soon.
In logistics, both sides committed to exploring opportunities to enhance connectivity, with a focus on
strategic transport projects, including the Durres-Pristina railway line, which will streamline trade
routes across the Western Balkans.

Efforts to bolster tourism were also a key focus, with plans to increase cross-border travel and
investment in hospitality infrastructure. Agriculture and food security emerged as significant areas of
collaboration, with initiatives to facilitate Albanian exports of chestnuts, olive oil, and honey to the

UAE while supporting smart agriculture and knowledge-sharing.
Commitment to SMEs and future-ready solutions The committee also reaffirmed its commitment to
support small and medium-sized enterprises (SMEs) through joint programs that provide access to
financing, training, and international markets. These efforts aim to empower SMEs as drivers of
innovation and economic growth.

Upon conclusion of the JEC meeting, HE Al Zeyoudi and the UAE private sector delegation
participated in a networking session with Ms. Laura Saro, the General Director of the Albanian
Investment Development Agency (AIDA), and the agency’s business community members to further

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