Page 235 - MOE ENGLISH PR REPORT- NOVEMBER 2024

11/27/24, 2:11 PM UAE, Albania convene inaugural Joint Economic Committee in Tirana

The meeting, held in Tirana, marks a new chapter in bilateral trade and investment relations between the two countries,

focusing on priority sectors including renewable energy, logistics, infrastructure, agriculture, food security, and technology,

WAM reported.

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.

Non-oil trade between the UAE and Albania reached US$80 million in 2023, a 117% increase over 2022. The upward trend

continued in the first half of 2024, with trade valued at US$66.4 million, a 64% year-on-year growth.

This positions the UAE as Albania's leading GCC trading partner and a pivotal player in its broader Arab trade relations.

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