PRESS RELEASSE
Governor Sejko receives H.E Mr Silvio Gonzato, Ambassador of the European Union Delegation to Albania

On 21 November 2024, the Governor of the Bank of Albania, Mr Gent Sejko, received in a courtesy meeting at the Bank of Albania, H.E. Ambassador of the European Union Delegation to Albania, Mr Silvio Gonzato.

Governor Sejko extended his appreciation to Ambassador Gonzato on the official opening of negotiations for the first Cluster with the European Union (EU), marking a historical milestone on Albania’s path to EU integration.

Also, Mr Sejko thanked Mr Gonzato for the technical assistance provided by the EU to strengthen the Bank of Albania’s capacities through IPA funds and Twinning programs in key areas of central banking, such as macroeconomic and financial stability, auditing, supervision, and payment systems. This support is fundamental in terms of Albania’s preparations for joining the European System of Central Banks and later the Eurosystem.

The interlocutors discussed on Albania’s progress and the challenges tackled by countries aspiring to become EU members, while also outlining the European Commission’s approach to guiding and supporting the enlargement process.

Ambassador Gonzato congratulated Governor Sejko on Albania’s membership into the SEPA (Single Euro Payments Area) geographic zone under the guidance and coordination of the Bank of Albania, as part of the regional project “Modernization of Payment Systems in the Western Balkans.”  He highlighted that this membership marks the successful achievement of one of the Bank’s primary ambitions within the European integration process.

Governor Sejko presented Ambassador Gonzato with an overview of the economic developments in Albania, pointing out that despite the challenging situations experienced, Albania’s economic performance remains stable with positive indicators. He emphasized that economic policies during this period have focused on maintaining price stability by adjusting the monetary policy stance as a prerequisite for preserving financial stability and ensuring price stability in the country. Mr Sejko underlined that, throughout this period, economic policies have focused on maintaining price stability, adjusting the monetary policy stance, as a prerequisite for sustaining financial stability and guaranteeing price stability in Albania.

Furthermore, Governor Sejko stated that the Bank of Albania deems that the holistic regulatory, legal, and institutional reforms undertaken within the framework of EU integration provide a complete and consistent platform for addressing challenges.

Ambassador Gonzato congratulated Governor Sejko on the progress made toward economic development and particularly on the opening of negotiations with the EU for the first cluster. The accomplishment of membership criteria leads to the comprehensive political, social and economic advancement of the country.

He also commended the work performed mainly related to Chapter 4 “Free Movement of Capital” and Chapter 17 “Economic and Monetary Policy,” led by the Bank of Albania, in addition to the contribution provided on other chapters in which Bank of Albania participates. Ambassador Gonzato underscored the recognition of the progressed achieved by Albania in view of the alignment progress as reflected in the latest progress report.

In addition, Ambassador Gonzato praised the Bank of Albania’s efforts in successfully addressing challenges and guaranteeing financial stability in Albania, which is a key prerequisite for attracting investors, aimed at developing and increasing trade and foreign investments in Albania.

Ambassador Gonzato reaffirmed the EU’s commitment to further enhancing cooperation and support for the Bank of Albania through technical assistance in various fields of central banking and the implementation of future joint projects.