Albania looks to India to expand partnership, trade and investments

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On the second day of the official visit to India, the Minister for Europe and Foreign Affairs of Albania, Igli Hasani, held a morning meeting with Indian and Albanian entrepreneurs, during which the possibilities for business offered by Albania were discussed.

Minister Hasani invited Indian companies to look at the country as a very good investment opportunity and to closely examine the new opportunities and spaces that Albania offers, not only for investment and business but also for trade and partnership, building their new success stories in the region and beyond through Albania.

Minister Hasani also appreciated that India represents a country with great potential for Albania and the strengthening of the alliance between the two countries is considered of high interest, both in the economic and geostrategic aspect.

During this visit, Minister Hasani was accompanied by a business delegation from the Chamber of Commerce and Industry of Tirana, mainly from the textile production sector, meat processing industry, paper and plastic production, sanitary products, trade in food and industrial goods, as well as education and vocational training and scientific research.

India has been the fourth largest supplier to the Albanian market in recent years. In 2023, the trade exchange rate between the two countries reached 249% more than a year earlier.

According to the National Business Center, in January 2023, there were 90 active companies with Indian ownership in Albania. Among them, 80 have 100% foreign capital, while 10 of them have joint capital.

Indian companies are present in five out of 12 regions of the country. The majority of these companies, namely 88%, operate in the territory of Tirana County, followed by Korça (8%), Durrës (6%), Vlora and Elbasan (1%).

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