The trade war between the United States of America and China, Europe and beyond could be a “double-edged sword” for Albania. The country is expected to be negatively affected in terms of exports and positively in terms of imports.
"If we take the European Union countries, we have closer relations with Greece and Italy. Normally this would have negative effects on exports to these countries as the latter would face increased tariffs from the US," said Selim Blliku, an economic expert, writes A2 CNN.
But Albania, like almost every other country in the world, is not a remote island isolated from the general principles of economic functioning. Therefore, if it were to lose out in exports, the opposite is expected to happen in imports due to President Donald Trump's protectionist policies that aim to protect the interests of American producers by imposing barriers with other countries.
"European products destined for the American market, rejected by the latter in some way by imposing high tariffs, would potentially be brought to countries like Albania," the expert said.
Albania conducts over 60 percent of its foreign trade with the European continent, so the economic performance of member states is critical for foreign demand and investment in the country. In the context of “a new global order in terms of trade”, experts are calling for the country to develop a new export model focused not only on vegetables and fruits.
"This is essential and not just for the sake of the situation. Albania needs added value in exports. To produce products that the world needs," says the expert.
In its annual report, the Vienna Institute estimates that Albania, with the current scenario where Europe will not be in a trade war with the US, will continue to experience economic growth at an average level of only 3.9 percent. (A2 Televizion)
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