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06/03/2021

Under Secretary Krach Signs Memorandum of Economic Cooperation between the U.S. and Albania.

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U.S. Under Secretary for Economic Growth, Energy, and the Environment Keith Krach visited Tirana and met with President Ilir Meta and Prime Minister Edi Rama. The Under Secretary”™s visit was marked by two important milestones in the relations between our countries. First, a Memorandum of Understanding on Economic Cooperation was signed by U.S. Under Secretary Krach and the Albanian Minister of Finance and Economy Anila Denaj. Afterward, Under Secretary Krach and Prime Minister Rama presided over the signing of the Skavica Hydropower project between the Albanian government and one of America”™s best-known engineering and construction companies, Bechtel.

Excerpt of Krach’s remarks:
I am pleased to join Minister Denaj in signing a Memorandum of Economic Cooperation between the U.S. and Albania.
It”™s a crucial step and I think a great catalyst in paving the way for increased commerce and investment, including through a future Economic Dialogue between our two countries. We”™ve really outlined the framework for it. Increased foreign investment especially for firms from the United States will create better jobs and opportunities for the young people of Albania and help create a better business environment.
I am also thrilled to witness the signing of an agreement between America”™s largest construction company Bechtel and Albania for the construction of the Skavica hydropower plant.
Let me echo the letter that President Trump sent to you, Mr. Prime Minister, just a couple of days ago.
“Thank you for Albania”™s leadership in the Balkans region and throughout Europe in exposing the Chinese Communist Party”™s malign influence, human rights abuses, and “debt trap diplomacy”_x009d_ on their One-Belt One-Way Toll Road to Beijing.”_x009d_

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