Minister of Economy speaks at Western Balkan Summit economy meeting

The second day of Western Balkan Countries Summit in Vienna, Austria has brought to a discussion table Ministers of Economy and Chambers of Commerce Presidents from Western Balkan countries, 6 EU countries’ Ministers of Economy and 11 CEOs of the biggest Austrian Enterprises. Amongst others, the main theme of the meeting was the regional economic integration of Western Balkan countries and the identification of concrete fields and projects which can be feasible and serve as concrete ways of collaboration between the countries.

The opening of the discussion was made by the President of the Austrian Chamber of Commerce, Christoph Leitl who stated that the European Union cannot be complete without the Western Balkan countries. New realities bring new opportunities and challenges, which we must overcome together.

The Albanian Minister of Economy declared that Balkan governments and companies should jointly contribute in countries’ economic growth. According to him, the structural reforms have guaranteed a stable macroeconomic situation and are contributing in Albania’s economic growth. “10 years ago, circa 80% of the region’s economy was supplied through lending. Nowadays, the level of lending has decreased significantly and still our economies are growing.  In the first trimester of 2015m lending was recorded at a 2% level but the economic growth reached 2.82%, while foreign direct investments were recorded at their highest level in 20 years during this period,” declared Ahmetaj.

Speaking about the business climate in Albania, Ahmetaj added: “Most of you are investors in Albania. I invite you to be direct with us and confess the problems you are facing so we can resolve them. Any suggestion by your side would be in benefit of our reforms,” said Ahmetaj.

On the other side, EU Commissioner Hahn underlined the importance of structural reforms that Balkan countries have undertaken with the aim to guarantee the economic growth and stability. According to him, the energy sector, the promotion of entrepreneurship amongst youth and the vocational training must be seen in the perspective of fields of a joint interest between the European Union and the Balkan region.

News source/photo credits: Ministry of Economic Development