Unicorn
10th April 2008, 23:51
Albania broke all trade relations with the Soviet Union in 1960. The country had rich deposits of chrome which is needed for making stainless steel and is thus a strategic raw material of military importance.
The US had to import 90% of the chrome it needed in the 1970s and Hoxha's Albania provided a source. NATO tanks were built using Albanian chrome. This was an outrageous betrayal of Marxism-Leninism.
As a percentage of total Albanian trade, trade with the West rose from 20 percent in 1974 to over 35 percent in 1979. Trade diversification was also achieved. In 1974, Italy and Yugoslavia were by far Albania's largest Western trading partners, accounting for over 50 percent of total trade with the West. By 1979, Albania had established trading relations with over 70 `Western nations, approximately three times the number in 1970. Yugo- slavia and Italy continued to be Albania's largest trading partners in 1979, comprising 40 percent of its trade with the West, with trade with the FRG, Greece, Sweden, and the U.S. accounting for some 37 percent of total Western trade. (See Table 1.) Also in 1979, Tirana for the first time ran a substantial ($31 million) surplus in its trade with the West. (See table A-2.) The Hoxha regime continues to prohibit utilization of credits from "capitalist bourgeois and revisionist monopolies and states." Albania has not taken any part in long or medium term loan syndications and has relied upon its meager hard currency reserves and infrequent short term borrowings to finance trade when funds from exports were in- sufficient.2 In an effort to save hard currency, Albania has attempted to expand barter and counter trade transactions with the West. How- ever, Western trade partners have complained about the quality of Albanian products and thus far have been very cautious in accepting these types of arrangements. B. TRADE WITH THE UNITED STATES This turn to the West by the Hoxha regime has been orchestrated in a cautious and selective manner. Tirana has been particularly wary of expanding relations with the U.S., which the regime has branded as the "ultimate imperialist, capitalist superpower". Thus, several U.S. offers throughout the 1970's to resume diplomatic relations and thereby solidify trade relations were officially turned down.3 Nevertheless trade between the two nations has been growing (see table A-3). Pragmatic Albanian foreign trade ministers realized the benefits of importing U.S. coal (to offset. several poor years of domestic coal output) in re- turn for shipments of Albanian chrome. In the early 1970's the U.S. imported over 90 percent of the chrome it consumed ... and it was anxious to diversify its source of supply. This was the basis for the U.S.-Albanian trade relationship, which grew from under $1 million in 1974 to nearly $21 million
http://lawlibrary.rutgers.edu/gdoc/hearings/82603423/82603423.html
The US had to import 90% of the chrome it needed in the 1970s and Hoxha's Albania provided a source. NATO tanks were built using Albanian chrome. This was an outrageous betrayal of Marxism-Leninism.
As a percentage of total Albanian trade, trade with the West rose from 20 percent in 1974 to over 35 percent in 1979. Trade diversification was also achieved. In 1974, Italy and Yugoslavia were by far Albania's largest Western trading partners, accounting for over 50 percent of total trade with the West. By 1979, Albania had established trading relations with over 70 `Western nations, approximately three times the number in 1970. Yugo- slavia and Italy continued to be Albania's largest trading partners in 1979, comprising 40 percent of its trade with the West, with trade with the FRG, Greece, Sweden, and the U.S. accounting for some 37 percent of total Western trade. (See Table 1.) Also in 1979, Tirana for the first time ran a substantial ($31 million) surplus in its trade with the West. (See table A-2.) The Hoxha regime continues to prohibit utilization of credits from "capitalist bourgeois and revisionist monopolies and states." Albania has not taken any part in long or medium term loan syndications and has relied upon its meager hard currency reserves and infrequent short term borrowings to finance trade when funds from exports were in- sufficient.2 In an effort to save hard currency, Albania has attempted to expand barter and counter trade transactions with the West. How- ever, Western trade partners have complained about the quality of Albanian products and thus far have been very cautious in accepting these types of arrangements. B. TRADE WITH THE UNITED STATES This turn to the West by the Hoxha regime has been orchestrated in a cautious and selective manner. Tirana has been particularly wary of expanding relations with the U.S., which the regime has branded as the "ultimate imperialist, capitalist superpower". Thus, several U.S. offers throughout the 1970's to resume diplomatic relations and thereby solidify trade relations were officially turned down.3 Nevertheless trade between the two nations has been growing (see table A-3). Pragmatic Albanian foreign trade ministers realized the benefits of importing U.S. coal (to offset. several poor years of domestic coal output) in re- turn for shipments of Albanian chrome. In the early 1970's the U.S. imported over 90 percent of the chrome it consumed ... and it was anxious to diversify its source of supply. This was the basis for the U.S.-Albanian trade relationship, which grew from under $1 million in 1974 to nearly $21 million
http://lawlibrary.rutgers.edu/gdoc/hearings/82603423/82603423.html