Page 229 - MOE ENGLISH PR REPORT- NOVEMBER 2024

11/27/24, 2:11 PM UAE, Albania convene inaugural Joint Economic Committee in Tirana
The meeting was co-chaired by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and
Belinda Balluku, Albania's Deputy Prime Minister and Minister of Infrastructure and Energy, with the
participation of senior officials and private sector representatives from both countries including Juma Al
Kait, Assistant Undersecretary for International Trade Affairs at the Ministry of Economy; Blendi

Gonxhja, 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 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, 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."

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.

Upon conclusion of the JEC meeting, Al Zeyoudi and the UAE private sector delegation participated in a

networking session with Laura Saro, General Director of the Albanian Investment Development Agency
(AIDA), and the agency's business community members to further explore potential areas of
collaboration to expand and strengthen business ties between the two nations.

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