BAKU, Azerbaijan, May 27. The Intergovernmental commission on trade and economic cooperation of Azerbaijan and Albania will hold a meeting in Baku on June 3, an informed source told Trend.
“Prospects of gasification of Albanian cities (Korca among the first cities) with the assistance of the State Oil Company of Azerbaijan Republic (SOCAR), increase of trade turnover, development of tourism, and other spheres of cooperation are among the topics to be discussed,” the source stressed.
In early May, President Ilham Aliyev signed a decree “On Approval of the Agreement on Economic Cooperation between the Government of the Republic of Azerbaijan and the Council of Ministers of the Republic of Albania.” The Agreement was signed on March 1, 2024, in Baku.
The countries have also been enjoying a visa-free regime since spring.
At the end of 2023, the volume of exports of Azerbaijani products to Albania amounted to $950,910, whereas imports of Albanian products amounted to $576,880.
In the first four months of 2024, Azerbaijan exported products valued at $479,820 to Albania, while Albania exported goods worth $411,500 to Azerbaijan.
Azerbaijani gas is transiting through the territory of Albania from December 2020 to Europe, while Albania plans to receive Azerbaijani gas in 2026. The necessary work is underway.
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