Albania and the EU, as the BrExit referendum approaches

During the past month, though technically only in the last 72 hour UK has officially started the campaign, we have seen a serial of important economic and political dignitaries speaking about their opinion and suggestions to the voters. By far the most distinguished and direct one came from no other than the leader of the world President Obama stating that BrExit would leave UK at “the back of the queue” on trade.

The most surprising of all comments for Albania and its reputation comes from the comments of UK Justice Minister Michael Gove said Britain could team up with Serbia, Bosnia and Albania in a free-trade zone once it left the EU. On one hand the one can hope of gaining sympathy amongst “Leave” campaigners while on the other hand the “Stay in” campaigners are pulling out all the negative records and their job it is quite an easy one.

Albania has, for the last four years, been waiting, while there has hardly been any significant progress, to be granted the candidate status in its road to join EU.  FDI has been insignificant in the nature and local impact. The so much required funds from EU for development of agriculture, tourism and SME in general is nonexistent. Furthermore the country has been hit by migration crises where some 200 000 young Albanians have fled in home of a better life in EU countries.

While Britain is tore into finding significant data on the value of staying or exiting EU, Albania has no cost and benefits evaluation of its wish to join EU. Which industries, in Albania, will benefit by Albania joining the EU? Which exports will benefit from joining the EU? How will the financial market Change?

While Britain is considering the Norwegian model of leaving the EU and joins the European Economic Area where the EU will not rule over the agriculture, fishery etc wouldn’t Albania benefit from such model as well?

While the suggestion from Mr Gove sounds as quoted by various newspapers dangerous gaffe, it could turn out not to be a total mistake after all. Albania, Serbia and Bosnia have very little industry and ideal for British companies to sell or transfer their production to these markets.

Whatever the outcome of the referendum in Britain, Albania should use the moment to promote the business opportunities that it offers.