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UK and Albania sign new Partnership, Trade and Cooperation Agreement

UK and Albania sign new Partnership, Trade and Cooperation Agreement

The UK and Albania signed a new Partnership, Trade and Cooperation Agreement on Friday.

The deal is designed to deepen the economic relationship between the two countries and also political efforts to tackle serious organised crime. The Agreement will also allow for more political cooperation to improve the security of the Western Balkans.

The trade agreement will allow UK businesses to trade with Albania on the same terms as before the 1 January.

In 2019, trade between the UK and Albania was worth around £158m.

Speaking about the agreement, UK Government Minister for International Trade, Ranil Jayawardena MP said;

"Today’s Agreement supports a trading relationship worth £158m in 2019 and provides the foundation for deeper trade and investment ties in the future, benefitting businesses and creating jobs in both our countries. I look forward to working in partnership as we continue to strengthen our bonds through trade."

The agreement with Albania brings the total number of countries that the UK has struck post-Brexit trade deals with to 64.

 

 

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