Albania–India relations

Albania-India relations

Albania
India

India-Albania relations are the bilateral ties between the Republic of India (Bhārat Gaṇarājya) and the Republic of Albania (Republika e Shqipërisë).[1] Bilateral relations between India and Albania are cordial and friendly.

Mother Teresa, one of India's national symbols, was of Albanian origin.

History

Diplomatic relations were established between India and Albania in 1956. The Indian Ambassador in Bucharest is also accredited to Tirana, while Albania is represented in India through its embassy in Beijing. From 2008 to 2014 Albania had a permanent Embassy in India, which was later closed due to budget cuts made by the government.

On 27 November 2015 India and Albania abolished visas for diplomatic and service passports.[2]

Trade

Trade has been modest between India and Albania. During 2014-15 bilateral trade was measured at US$ 671.13 million (exports to Albania from India at US$ 396.62 million, imports form Albania to India US$ 274.51 million). [3] Principal commodities imported from India were aluminum, pharmaceuticals, spices, chemicals, vegetables, mechanical and electrical machinery, textiles, construction material and plastic products, while India imports chemical industry products, copper, plant extracts for pharmaceutical use, inorganic chemicals and metal alloys. [4]

In Feb 2012, a venture of India Albania Trade Expo was held to experience the potential of outsourced jobs in India where the cost effectiveness of the Indian businesses was on focus and also to exploit the potential deals and ventures from the Albanian side. The Expo was treated as an international platform to about 300 Indian companies to explore the untapped markets of Albania to achieve the bilateral profits.[5][6]

Bilateral Agreements

Both countries are signatories of the double taxation avoidance agreement (DTAA) to help the exchange of banking information and containing the fiscal evasion related to taxes on income.[7][8] The agreement included exchange of information between tax authorities of the both countries and information exchange pertaining to banking and sometimes, rendering information without any recourse to domestic interest.[9]

Energy Cooperation

India and Albania agreed to boost cooperation with Indian investment in the energy sector like Oil and Gas sector. A Memorandum of Collaboration (MoC) has also been signed in New Delhi where the Union Minister of Human Resource Development and Minister of State for Petroleum and Natural Gas were present.[10]

References

  1. ↑ "Bilateral - Albania | Embassy of India, Bucharest - Romania". www.embassyofindia.ro. Archived from the original on 2015-09-12. Retrieved 2015-09-27.
  2. ↑ http://invest-in-albania.org/albania-and-india-abolish-visas-for-diplomatic-and-service-passports/
  3. ↑ http://eoiromania.in/eoi.php?id=Bilateral-Albania
  4. ↑ https://mea.gov.in/Portal/ForeignRelation/Albania_Feb_2016.pdf
  5. ↑ "India Albania Trade Expo (Feb 2012), Tirana Albania - Trade Show". 10times.com. Retrieved 2015-09-27.
  6. ↑ "Behance". www.behance.net. Retrieved 2015-09-27.
  7. ↑ "Albania: Double tax treaty between Albania and India enters into force | International Tax Review". www.internationaltaxreview.com. Retrieved 2015-09-27.
  8. ↑ "India, Albania sign taxation pact". Retrieved 2015-09-27.
  9. ↑ "India and Albania signed an Agreement for Avoidance of Double Taxation". Retrieved 2015-09-27.
  10. ↑ "Albania seeks Indian investments in Oil and Gas sector | Hellenic Shipping News Worldwide". www.hellenicshippingnews.com. Retrieved 2015-09-27.
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