News

UK-Albania Partnership, Trade and Cooperation Agreement

Trade and market access

Brexit pulse alert: respond to the business impacts of Brexit

5 February, 2021

Brexit development

The UK government has agreed a Partnership, Trade and Cooperation Agreement with Albania to ensure that firms in both countries can continue to trade on largely the same terms as they did while the UK was an EU member state.

Top Brexit impacts

The agreement provides confidence to businesses that trade between the UK and Albania can continue on largely the same terms as secured in the EU’s trade agreements with Albania. Total trade in goods and services between the UK and Albania was worth £158 million in 2019.

The agreement also includes a range of other provisions beyond the terms of trade, with the UK Government stating that it “sets out the UK and Albania’s ambitions for our future relationship including the strengthening of political, economic, security and cultural ties. As well as deepening our shared work against organised crime, the Agreement will allow for more cooperation on good governance and political cooperation – improving the security of the Western Balkans to make both Albania and the UK safer”.

 

Actions for business

Businesses trading within the UK-Albania corridor will be able to plan for the future with greater certainty. Once published, firms will have some time to examine the legal text of the agreement, which will be subject to domestic Parliamentary procedures before coming into force.

To discuss specific support with your Brexit preparations based on this latest development contact: Deloitte Brexit Insight

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