EU continues to be principal trade partner of Moldova, Economic Ministry says

Chisinau, 20 January /MOLDPRES/ - The European Union continues to be the principal commercial partner of Moldova seven years following the implementation of the Deep and Comprehensive Free Trade Area (DCFTA). Economics Minister Sergiu Gaibu has made statements to this effect at an event on marking the seventh anniversary of the DCFTA’s implementation, organized by the EU Delegation in Moldova.   

Sergiu Gaibu thanked the European partners, as well as the European Union’s delegation in Moldova for the continuous support they provide, both financial and technical, especially in the process of implementation of the Deep and Comprehensive Free Trade Area.   

„During the last years, Moldova has managed to establish good cooperation relations with the European Union, being the biggest beneficiary of assistance on behalf of EU per capita in Europe’s neighbourgood. EU’s assistance contributed to the enhancement of the export competitiveness of enterprises from Moldova, promotion of investments, backing of small- and medium-sized enterprises through relevant programmes, as well as other reforms in important segments of the economy,’’ Gaibu noted.  

The official also said that the Economics Ministry would continue contributing to the strengthening of the strategic dialogue as to the sectoral cooperation on aspects dealing with the trade between Moldova and the European Union, in the context of the implementation of the DCFTA Agreement.    

Once the Moldova-EU Association Agreement enforced, the configuration of Moldova’s foreign commerce changed; the European Union became the principal commercial partner of Moldova. About 70 per cent of the Moldovan exports went to the European market and the imports account for about 50 per cent.

The Deep and Comprehensive Free Trade Area is an agreement between EU and Moldova, which pursues a preferential commercial relation, based on mutually advantageous conditions. The Free Trade Agreement has the goal to eliminate the import (and export, if they exist) customs duties in the trade with the products of these sides.  

Photo: Economics Ministry