Page 246 - MOE ENGLISH PR REPORT- NOVEMBER 2024

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

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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