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GGD-92-25R 1 (1992-07-30)

handle is hein.gao/gaobackcm0001 and id is 1 raw text is: (3 O United States GAO) General Accounting Office Washington, D.C. 20548 General Government Division B-234511 July 30, 1992 The Honorable Lloyd Bentsen II11111III Chairman, Committee on Finance 147232 United States Senate Dear Mr. Chairman: As you requested, we are providing information to help evaluate the impact of granting most-favored-nation (MFN)l trade status to Albania. Specifically, we are providing data on (1) leading U.S. imports from Albania from 1987 to 1991, (2) the potential impact of MFN status on tariff rates on items the United States has imported from Albania, (3) leading U.S. exports to Albania from 1987 to 1991, and (4) aggregate figures comparing U.S. trade with Albania to that of its major trading partners. BACKGROUND Albania is a very small country in Eastern Europe with a population of about 3.3 million people. It is the poorest country in Eastern Europe, with 1990 per capita gross domestic product of $498, according to the World Bank. Its development has been limited by a rigid Communist ideology that governed economic and foreign trade policy. Until 1991, Albania had what could be considered a pure centralized command economy--no private property, little income disparity, and 5-year economic plans prepared and implemented by the central government. For years, Albania was one of the most isolated countries in the world. A policy of self-reliance and a determination not to borrow from international lenders have hindered Albania's economic development. Due to its isolationist policies, Albania traded little with the East and even less with the West. Recently, however, with the 1MFN treatment generally refers to the practice of extending to a country the best trade privileges granted to any other nation in the form of the lowest tariff rates and other charges imposed on imported products. GAO/GGD-92-25R U.S.-Albanian Trade Data 015 5'0 47 /

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