The potentials and opportunities of circular economy in Albania - Economicus

By,Dr. Forcim KOLA, Dr. Teuta ÇERPJA

Abstract
Purpose: This paper explores the potential and opportunities of implementing a Circular Economy model in Albania. The Circular Economy framework aims to maximize resource efficiency, minimize waste generation, and promote sustainable production and consumption patterns. The study examines the current opportunities of the Albanian economy and identifies potentials where Circular Economy principles can be effectively implemented. It also assesses the potential benefits that a transition to a Circular Economy model can bring, such as job creation, cost savings, and environmental protection. The paper highlights the challenges and barriers that Albania may face in adopting Circular Economy practices and provides recommendations for policymakers, businesses, and other stakeholders to accelerate the shift towards a more sustainable economic model. Methodology: Secondary research was conducted using different databases of some international organizations and some public and private organizations in Albania. Findings: Results obtained from this research methodology show that improving recycling infrastructure and implementing more efficient waste management practices can help reduce the amount of waste sent to landfills, while also creating new job opportunities and supporting the development of a green economy. Among others, developing circular economy practices can help reduce the country’s reliance on imported raw materials, promoting domestic resource production and helping to build resilience in the face of global supply chain disruptions. Value: As per recommendation, based on these findings, Albania should implement specific strategies for the development of a circular economy model as it has the potential to drive sustainable economic growth, innovation, and job creation.
Keywords: Circular economy, Economic growth, green economy, Innovation.

https://doi.org/10.58944/ijpb9864