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Albania reports decreased trade with Western Balkan economies

Xinhua, December 26, 2016 Adjust font size:

Trade was losing steam in the first 11 months of this year between Albania and various economies of the Western Balkans, official data revealed on Sunday.

According to data released by Albania's General Directorate of Customs, Albania's exports to these economies in the first 11 months of 2016 stood at 18.1 billion leks (140.5 million U.S. dollars), down 3.7 percent year on year from a year earlier.

Imports in the first 11 months of this year amounted to 22.7 billion leks, slightly lower than that for the same period of 2015.

Experts have called for more cooperation among regional economies to give a boost to trade relations.

The European Commission recently published a report in which it recommended the CEFTA economies to simplify procedures and promote production in order to create new jobs.

The Central European Free Trade Agreement, or CEFTA, is a trade agreement between non-EU economies. Albania is a member of CEFTA. Endit