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1994-05-02
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<text>
<title>
Albania: World Trade Outlook
</title>
<article>
<hdr>
World Trade Outlook 1992: Albania
Prospects Are Brighter In Europe's Poorest Country
</hdr>
<body>
<p>By Lynn Fabrizio
</p>
<p>After launching ambitious reforms in early 1991, Albania
possesses excellent long-term potential for American
businesses, particularly in tourism, telecommunications, and
agribusiness. Despite the lack of normalized trade relations,
in 1991 U.S. exports to Albania grew by 73 percent to total $18
million; U.S. imports from Albania totaled $3 million in 1991,
up 52 percent.
</p>
<p>U.S. exports 1991--$18 million U.S. imports 1991--$3 million
</p>
<p> As the poorest country in Europe, with per capita gross
national product roughly $800, Albania faces severe economic
and political uncertainty. However, Albania is rich in natural
resources for a small country. Scenic mountain terrain and 217
miles of pristine beaches suggest considerable potential for
sales of hotel and restaurant equipment and services, as well as
construction of much-needed tourism infrastructure.
</p>
<p> Now a member of the World Bank, the IMF, and the European
Bank for Reconstruction and Development (EBRD), Albania will
become eligible for multilateral financial assistance to
jump-start its economy. The EBRD, in particular, will provide
technical assistance to develop telecommunications and tourism
infrastructures, as well as assist in banking reform and
privatization.
</p>
<p> The key impediment to export growth is that most trade
transactions are conducted on a countertrade or short-term
credit basis. Smaller American firms will find arranging
countertrade deals frustrating since Albanian goods generally
do not meet Western standards and are difficult to resell on
world markets. The country incurred approximately $500 million
of short-term debt last year, although long- and medium-term
debt remains negligible.
</p>
<p> Because the United States has not granted a Jackson-Vanik
waiver to Albania, many U.S. government programs are not yet
available, including those from OPIC and TDP.
</p>
<p> For further information on opportunities in Albania, contact
Commerce's Eastern Europe Business Information Center at (202)
482-2645.
</p>
<p>Source: International Trade Administration, Business America Magazine
</p>
</body>
</article>
</text>