Financial Crime World

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EU Agreements with Canada, Japan, and Vietnam to Have Small but Positive Impact on GDP and Welfare

The European Union is set to benefit from its recently concluded free trade agreements (FTAs) with Canada, Japan, and Vietnam. According to a new study, these agreements are expected to have a small but positive impact on the EU’s Gross Domestic Product (GDP) and welfare.

However, the study also highlights that the impact of these agreements will depend on the reduction of non-tariff barriers (NTBs) in both trade in goods and services. Tariff liberalization alone is not enough to generate substantial economic gains.

Sectoral Impact

The sectoral impact of the currently-negotiated FTAs on EU producers is expected to be tiny, with neither large gains nor losses anticipated.

Environmental Concerns

Unlike the FTAs concluded with developed countries, the environmental implications of agreements under negotiation could be very important, especially in the spheres of land use and deforestation. The study recommends that policymakers prioritize these concerns.

Money Laundering in Albania

In a related development, Albania has several institutions responsible for monitoring and supervising illegal activities, including money laundering and the implementation of policies against it.

Institutions Responsible for Combating Money Laundering

  • The Albanian Financial Intelligence Unit (General Directorate for the Prevention of Money Laundering)
  • The Bank of Albania
  • The Coordination Committee for the Fight against Money Laundering (CCFML)
  • The Albanian State Police (ASP), which has a Directorate for Investigating Economic and Financial Crime (DIEFC)
  • The General Prosecutor’s Office (GPO)
  • The General Directorate of Customs (GDC)
  • The General Directorate of Taxation (GDT)
  • The Agency for the Administration of Seized and Confiscated Assets (AASCA)
  • The High Inspectorate of Declaration and Audit of Assets and Conflict of Interest (HIDAACI)

These institutions work together to combat money laundering, with a focus on prevention, investigation, and prosecution.