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TIRANA, March 3 (Reuters) - Albania and Macedonia will scrap customs tariffs to create a joint market, the economy ministers of the Balkan neighbours said on Tuesday.
Members of the Central European Free Trade Agreement (CEFTA) along with other Balkan states, the two countries see the move as integrating their markets before a hoped-for EU entry and offsetting fierce competition during the global economic crisis.
"We have agreed to fully liberalize trade between Macedonia and Albania. In other words Macedonia and Albania will have a joint economic market without customs," Macedonia's Economy Minister Fatmir Besimi told a joint trade forum.
Albania's overall trade exchange with Macedonia in 2008 stood at 105 million euros, with Albanian exports to Macedonia constituting 21 percent of the total of the CEFTA countries, up 47 percent compared to 2007.
Imports from Macedonia have risen 33 percent, accounting for 26.7 percent of imports from CEFTA area, which uses lower tariffs to help develop trade between its members.
"The figures show CEFTA's application has improved the growth of trade exchange between this group of countries, helping the integration of their economies," Albania's Economy Minister Genc Ruli said.
Under CEFTA's free trade agreement, the two Western Balkan neighbours were obliged to negotiate the further liberalisation of their agricultural produce within May this year.
Ruli saw the Balkans as being less affected by the global economic crisis but said it would sharpen competition in the markets.
Members of the Central European Free Trade Agreement (CEFTA) along with other Balkan states, the two countries see the move as integrating their markets before a hoped-for EU entry and offsetting fierce competition during the global economic crisis.
"We have agreed to fully liberalize trade between Macedonia and Albania. In other words Macedonia and Albania will have a joint economic market without customs," Macedonia's Economy Minister Fatmir Besimi told a joint trade forum.
Albania's overall trade exchange with Macedonia in 2008 stood at 105 million euros, with Albanian exports to Macedonia constituting 21 percent of the total of the CEFTA countries, up 47 percent compared to 2007.
Imports from Macedonia have risen 33 percent, accounting for 26.7 percent of imports from CEFTA area, which uses lower tariffs to help develop trade between its members.
"The figures show CEFTA's application has improved the growth of trade exchange between this group of countries, helping the integration of their economies," Albania's Economy Minister Genc Ruli said.
Under CEFTA's free trade agreement, the two Western Balkan neighbours were obliged to negotiate the further liberalisation of their agricultural produce within May this year.
Ruli saw the Balkans as being less affected by the global economic crisis but said it would sharpen competition in the markets.
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