Ardian Fullani: Albania – optimistic, flexible and adaptive to challenges Speech by Mr Ardian Fullani, Governor of the Bank of Albania, at the Opening of “Klik Ekspo Group” Fair, Tirana, 25 November 2008. *  *  *  Honourable Prime Minister, Honourable Ministers, Honourable Ambassadors, Dear Mr. Uldedaj! Dear entrepreneurs! Dear ladies and gentlemen! I feel privileged to be here with you tonight and at the same time, be a friend to the Albanian entrepreneurship. The times we are living through require the special attention of economic and financial forums, in particular when the latter bring together the governmental bodies, the banking system and the private entrepreneurship. The global table of discussions on macro-finance and future policies is the present focus; hence, I consider this forum as a follow-up of this prevailing philosophy of the time we are living in. Set in a comprehensive context, the economic developments in the recent months have been characterized by the vague situation the monetary and financial markets and institutions have been going through – which in the last couple of weeks has been followed by other developments. The most recent data show that the economies of developed countries – the USA, Euro area, England and Japan – have recorded decline in economic growth. However, most emerging economies have shown higher immunity to the consequences of the global crisis. Economic activity has been buttressed by domestic factors, which is the main reason to justify the immunity in addition to the incomplete financial integration with the developed countries.
Time is  2  BIS Review 148/2008  ripe for the state budget to involve the participation of private entrepreneurs in strategic investment projects through joint financing programmes. The banking system plays a vital role. Banking loan has played a key role in Albania’s economic development. It has been a source of profit in your business and it has to remain so in the future as well. In my recent communications with my counterparts and in the various meetings with senior officials of foreign banks’ main headquarters I have truthfully presented our country’s economic situation and I have required from them to keep their interest in the Albanian economy unchanged. I avail myself of this opportunity to address to the Albanian entrepreneurship. You have to keep being active and focused on formulating and implementing your future business plans. This would be the only way for you to remain well-capitalized, lucrative and credible to the banking system. In the current economic conditions, private entrepreneurship should be a supporter and promoter in the formulation of domestic strategies at home, in the region and broader, and in their implementation process. All conditions are in place for the Albanian business to go beyond the official regional borders, hence, becoming a factor in ensuring a stable regional activity. This also means a real integration into the targeted standards. Concluding, I would like to highlight that the small countries like Albania, should be optimistic, flexible and adaptive to challenges.