How can local business compete in the EU? - Bajraktari: Authenticity, Albania's weapon in the European market
The opening of the European market will create new opportunities for Albanian businesses to export and expand, but at the same time will confront them with companies that have greater capital, advanced technology, and many years of experience.
For local enterprises, competing directly with large Italian or German businesses remains a difficult objective.
But business consultant Aneida Bajraktari emphasizes that Albania needs to identify sectors where it has real advantages and focus on products and services that stand out for their originality and authenticity.
"I think it is very ambitious for Albanian companies to compete with Italian or German companies, which have years of expertise in the market, very large capital, production lines and human assets. But what would be important for us as a market and as a state, is to find our 'niche'."
According to BajraktariT, Albanian enterprises should not attempt to compete in every sector, but rather develop those products where the country has tradition, natural resources, and export potential.
"We cannot openly compete with companies that have been in the European market for years, but we can focus on products that are original and have a kind of authenticity. We have olive oil, honey and medicinal plants that are exported to Europe, but we also have services. Albania has very talented young people who provide services to European clients in IT, finance and technology."
However, Bajraktari warns that the competitiveness of the Albanian economy can no longer rely solely on low labor costs. Increasing productivity, investing in technology, improving quality and creating Albanian brands will be crucial to face competition in the European single market.
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