Minister for Europe and Foreign Affairs of Albania, Olta Xhaçka and British Ambassador to Tirana, Duncan Norman have signed Friday the Partnership, Trade and Cooperation Agreement between the Republic of Albania and the United Kingdom of Great Britain and Northern Ireland.

Signing of this agreement marks a further step in fulfilling the legal framework between the two countries in this field, as it aims to ensure the continuation of cooperation and the continuation of trade between Albania and the United Kingdom, with the same preferential terms and after its exit from BE.

Albaniandailynews.com has learned that the agreement has a tripartite approach to the rules of origin, between the United Kingdom, Albania and the European Union, where the parties agree to maintain the same preferential terms in trade between them that result from the EU-Albania Stabilization and Association Agreement, for both agricultural and industrial products, and are committed to providing a platform for further liberalization of trade between them.

However, the UK accounts for about 1.4% of Albania’s total imports from EU member states and 0.4% of total exports to EU countries.

To this end, the approval of this agreement will continue to deepen economic cooperation between the two countries, as it is expected to significantly affect the level of FDI flows in Albania, as well as increase Albanian exports, significantly improving the country's trade balance.