NJOFTIM PËR SHTYP
Governor Sejko receives the Ambassador of Japan in Tirana H.E, Kikuko Kato

On 17 May 2024, the Governor of the Bank of Albania, Mr Gent Sejko, received the new Ambassador of Japan in Tirana, H.E. Kikuko Kato.

At the beginning of the meeting, Governor Sejko commended the very good relations between Japan and Albania, by assessing the support and help given by Japan over the years to Albania, and expressed his confidence that the cooperation between Albania and Japan will continue to strengthen.

They discussed about the potential perspectives of the economic cooperation between the two countries, in areas such as: trade exchanges, information technology, infrastructure, etc.

Governor Sejko presented Ambassador Kato with an overview of the economic developments in Albania, emphasizing that despite the challenging situations, the economic performance in Albania appears stable and with very good indicators. The governor highlighted that the focus of economic policies during this period has been oriented toward maintaining price stability, adjusting the monetary policy stance, as a prerequisite for sustaining financial stability and guaranteeing price stability in Albania.

In addition, Mr Sejko said that the monetary policy stance of the BoA has helped maintain a low level of inflation, reaching 2.1% in April. He also stated that regardless the challenges, the forecasts of the Bank of Albania suggest that the Albanian economy will continue to grow.

In terms of banking sector, the Governor pointed out that the banking system in Albania is well capitalised, solid and financially sound. Governor Sejko pointed out that the reforms implemented over the years by the Bank of Albania, have driven the number of non-performing loans to reduce in the banks’ balance sheets, currently standing at 4.64%. These reforms have paved the way for the rapid, stable and sound growth of bank credit.

Ambassador H.E Kikuko Kato praised the work done by the Bank of Albania in terms of successfully coping with challenges and guaranteeing financial stability in Albania. Also, she focused on the progress that Albania has made within the framework the European integration process.

The interlocutors emphasized the importance of strengthening the bilateral relations between the two countries in order to encourage foreign investments in Albania, especially in the field of technology. Thus, improving the business climate and creating the best possible conditions for Japanese investors remains an important goal for the progress of trade exchanges.

Concluding, they shared the same view on the prospects for further increase of cooperation and undertaking joint projects in the future.