Financial Crime World

The Impact of Trade Agreements on the EU’s Economy: A Focus on Non-Tariff Barriers

The European Union’s (EU) economy has been significantly affected by recent trade agreements, with a particular emphasis on non-tariff barriers (NTBs). The reduction of NTBs in both trade in goods and services is essential to generating substantial economic gains.

Reducing Non-Tariff Barriers for Economic Gains

Non-tariff barriers refer to obstacles that hinder trade beyond tariffs. These can include regulatory differences, standards, and other measures that make it difficult for businesses to operate across borders. Reducing NTBs in both trade in goods and services is crucial for the EU’s economic growth.

  • Trade in Goods: NTBs in trade in goods can be particularly damaging, as they can limit access to markets and increase costs for businesses.
  • Trade in Services: NTBs in trade in services can also have a significant impact, as they can restrict the ability of service providers to operate across borders.

Regulating European Offshore Centers: A Promising Step

A study on offshore activities and money laundering suggests that regulating European offshore centers would be a promising step. This requires a differentiated approach for different groups of Member States.

  • Homogenous EU Anti-Money Laundering Policy: A homogenous EU anti-money laundering and anti-tax evasion policy is essential to combating financial crimes.
  • Differentiated Approach: However, this requires a differentiated approach for different groups of Member States, taking into account their unique needs and circumstances.

Combating Illegal Activities in Albania

In Albania, several institutions are involved in combating illegal activities related to money laundering. These include:

  • The Albanian Financial Intelligence Unit (GDPML): The GDPML is responsible for collecting and analyzing financial intelligence to prevent and combat money laundering.
  • The Bank of Albania: The Bank of Albania plays a crucial role in regulating the country’s banking sector and preventing money laundering.
  • The Coordination Committee for the Fight against Money Laundering (CCFML): The CCFML is responsible for coordinating efforts to combat money laundering across different institutions.
  • The Albanian State Police (ASP): The ASP has a Directorate for Investigating Economic and Financial Crime (DIEFC), which investigates crimes related to money laundering.
  • The General Prosecutor’s Office (GPO): The GPO exercises criminal prosecution and brings charges in trials related to money laundering.
  • The General Directorate of Customs (GDC): The GDC cooperates with other law enforcement structures and sends reports to prosecutor’s offices.
  • The General Directorate of Taxation (GDT): The GDT targets crimes in the economic field, including money laundering.
  • The Agency for the Administration of Seized and Confiscated Assets (AASCA): The AASCA is responsible for managing assets seized or confiscated as a result of money laundering investigations.
  • The High Inspectorate of Declaration and Audit of Assets and Conflict of Interest (HIDAACI): The HIDAACI is responsible for declaring and auditing assets, as well as investigating conflicts of interest.