The competition and innovation of small and medium sized enterprises in Albania will foster through the COSME program, signed by the Albanian Minister of Economic Development Arben Ahmetaj during his official visit in Brussels.
Albania became part of this program in order to boost fair competition and to increase innovation in small and medium sized enterprises, which will bring the further development of them. The agreement which formalizes the membership of Albania in COSME was signed between the Minister of Economic Development and the European Commissioner for Domestic Market, Industry, Entrepreneurship and SMEs, Elżbieta Bieńkowska.
Bieńkowska welcomed Albania in Competitiveness of Enterprises and Small and Medium-sized Enterprises program by saying: “The access in finance remains one of the main problems which SMEs face during their activity. This program will offer funding opportunities which may be used by Albanian companies in an efficient way, in order to support these small and medium sized enterprises and to have an idea of their activities to find the best way to promote them.”
In turn, the Minister of Economic Development Arben Ahmetaj was of the opinion that this is an excellent opportunity for Albanian enterprises to apply in this program and get support for the increase of competition, innovation and their development.
He added, “Albania signed an important agreement with COSME, a financial instrument created by the European Union and the European Commission to assist SMEs of the European Union member and candidate countries. The total amount is 2.3 billion EUR and Albania has its proportional amount which is a direct challenge for the authorities, administration and entrepreneurship in Albania”.
News source/photo credits: ATA