EFTA-Albania Free Trade Agreement to enter into force on 1 November 2010

Published 26-10-2010
Following ratification of the EFTA-Albania Free Trade Agreement (FTA) by Liechtenstein, Switzerland and Albania, the FTA will enter into force between these three parties on 1 November 2010. For Iceland and Norway, it will become effective after the completion of their respective ratification procedures.

The FTA between the four EFTA States and the Republic of Albania was signed on 17 December 2009. Its focus lies on the liberalisation of trade in goods. All customs duties on industrial products, including fish and other marine products, are abolished as of the date of entry into force of the FTA. Bilateral arrangements on agricultural products between the individual EFTA States and Albania also form part of the instruments establishing a free trade area between the parties. Provisions on the protection of intellectual property rights, on services and investment, and on public procurement complement the FTA.

In 2009, total merchandise trade between EFTA and Albania amounted to USD 41 million. Exports from the EFTA States consist mainly of pharmaceutical products, machinery, tobacco and electrical machinery. The EFTA States’ leading imports from Albania are footwear, electrical machinery, mechanical appliances, grains and seeds, and woven apparel.