A potential escalation between Russia and Ukraine could have a direct impact on trade with Albania.

The general director of Confindustria, the confederation of Albanian industries, explained on ‘Today’ that Albania imports a large quantity of wheat and its by-products from Ukraine. According to Gjergj Buxhuku, a potential conflict could bring direct negative implications.

“Albanian imports 60%-70% of wheat and its by-products mainly from Ukraine. In case of a conflict there, there would be some indirect repercussions in our country, but we would look out to other markets. The wheat stock would receive a powerful blow and if prices were to grow across the world, that would affect us too, as we’re net importers”, said Buxhuku.

The head of the Albanian Export Center, Alban Zusi, maintained that exports could also suffer a blow, given that Albania exports fruits and vegetables to Ukraine.

“We export fruits and vegetables to Ukraine. If demand drops, the market will shrink. We export over 1,000 tons”, said Zusi, adding that destabilizations would push Albanian exporters into exploring other markets.