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10% tariff on exports to the US, medicinal plant companies in the country request reimbursement from the government

2025-04-07 14:19:39Biznes SHKRUAR NGA REDAKSIA VOX
10% tariff on exports to the US, medicinal plant companies in the country
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The Medical Plants Association in Albania is seeking support from the government to cope with the blow received from America, their largest market.

In a statement to the media, Filip Gjoka, head of this association, proposes a 10% VAT refund for farmers who work with medicinal plants, as they are the most damaged link in this chain.

"The tariff with the US will reduce exports, 10% VAT will be reimbursed to farmers at 10%, which consequently creates another difficulty for our industry. Given this situation, IBMA calls on the Albanian government to establish a working group with representatives from the Ministry of Agriculture and the Ministry of Finance to draft an emergency plan of measures to stabilize the sector to mitigate the negative effect. Specifically, the imposition of a 10% tariff on Albanian exports translates into an increase in the cost of exports. An increase in the price of Albanian products in the American market, making them less competitive. This could lead to a decrease in demand for Albanian products and a reduction in the volume of exports, directly hitting thousands of farmers and small businesses in rural areas by reducing their profits," said Gjoka, emphasizing that the industry wants to maintain and strengthen positive economic relations with the US.

"We have been following with concern the latest developments regarding the new economic policy package announced by the United States of America, which does not exclude Albania. This is certainly not good news for us at a time when this industry accounts for over 14% of all exports to the EU and America. From the current zero, every shipment to the US will have a customs tariff of 10%, which consequently creates another difficulty for our industry. Based on this, the Association of Medicinal Plants:

Among other things, Gjoka said that many local companies that have invested in technology and quality standards for the American market now face financial uncertainty, slowing the development of the sector.

Association Proposals

SUPPORT PACKAGE FOR FARMERS:

1. Immediate refund of 10% VAT for all farmers in the sector.

2. Compensating for the depreciation of the euro/dollar through a fixed, stabilized exchange rate, as Serbia and Macedonia do.

3. Tax deductions for exporting companies that use high quality standards.

4. Waiver of tax on salaries up to 80,000 lek for seasonal workers.

 5. The government should pay social security contributions for 5 months during the collection season.

ACCUMULATED PROBLEMS OF THE SECTOR:

– Lack of labor force and the movement of residents from rural areas to urban areas, as well as emigration.

– High costs in production, storage in warehouses, transportation and low yield - Insufficient subsidies for all farmers.

 – Lack of investment in companies that want to increase quality and standards, as well as the cessation of EU funds.

– The 10% tariff imposed by President Trump created another difficulty for this industry.”


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