State Budget Backs Albania’s Fishing Industry in 2019

State Budget Backs Albania’s Fishing Industry in 2019

TIRANA, November 13

The seafood processing industry is the best-performing branches of agriculture in Albania. Hence, official authorities encourage entrepreneurs to further invest in aquaculture, fish farming, and seafood processing. Fishing and agro-industry represent respectively 46% and 38% of the hike in agricultural exports for January-September 2018. Agricultural exports that include farming, fishing, and agroindustry rose by 9.9 percent over a nine-month period thus, reaching a value of Lek 23.6 billion. The official data from the Ministry of Agriculture and Rural Development that fish and seafood exports increased by 34.6 percent. Those goods account for 16 percent of total agricultural exports.
The fish and seafood processing industry is growing every year due to increased capacities and new investments in plants, which have an impact on employment. Yet, the sector is not exploiting its full potential due to the limited quotas of 1,600 tax-free products. The limit is met soon and afterward this industry can export only half-processed otherwise they have to pay up to 25 percent of the export value.
On the other hand, more efforts were made for complying with the European Union (EU) rules about mussels export. Representatives from the Ministry of Agriculture and Rural Development said that the fish processing sector will receive subsidies in the value of Lek 20 per kg of anchovies and sardines even in 2019. The goal of Albanian authorities is to increase the production and trade of Made in Albania fish products.

News Source: ATA


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