United Arab Emirates – Albania: First Meeting of Joint Economic Commission
The XVII Verona Eurasian Economic Forum will be held on December 5-6, 2024 in Ras Al Khaimah, organized by the Conoscere Eurasia Association.
The United Arab Emirates is expanding its strategic zone of economic cooperation to smaller countries in Southeastern Europe. The first meeting of the Joint Economic Commission was held on Friday, November 22, in Tirana, the Albanian capital, focusing “on priority sectors ranging from renewable energy to logistics, infrastructure, agriculture, food safety, and advanced technologies.”
As the Emirati news agency Wam wrote, the meeting was co-chaired by the United Arab Emirates Minister of State for Foreign Trade Thani bin Ahmed al Zeyoudi and Deputy Prime Minister, Minister of Infrastructure and Energy of Albania Belinda Balluku. The meeting was attended by high-ranking officials of the governments of the two countries, representatives of public and private businesses of Albania and the Emirates.
On this occasion, the Emirati company Masdar and the Albanian company Kesh presented a program of cooperation in the development of clean energy projects to achieve 3 gigawatts of solar and wind capacity in Albania with the first 100 MW solar plant, soon to be launched in southern Albania.
The development of the maritime transportation corridor between the United Arab Emirates and Albania was a topic of great interest to the participants. Both countries are determined to explore opportunities to improve all sorts of links with adequate logistics infrastructure.
During the meeting, it was announced that non-oil trade between the UAE and Albania reached $80 million in 2023, 1.17 times higher than in 2022. The upward trend continued into the first half of 2024, with non-oil trade continuing at an estimated $66.4 million, up 64% from the previous year.
The dense international agenda of the United Arab Emirates will continue and organically develop the XVII Verona Eurasian Economic Forum, organized by the Italian Conoscere Eurasia Association, which will be held in the Emirate of Ras Al Khaimah from December 5 to 6.
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