European Commissioner says current determination to shape Moldova's place in Europe for next generations

Moldova has made significant strides and achieved remarkable progress in implementing reforms, and its relations with the European Union are stronger than ever. However, the country still has much work to do on the path to European integration, and the EU will be alongside Moldova in this process. European Commissioner for Financial Services and the Union of Savings and Investments Maria Luís Albuquerque has made statements to this effect during her visit to Chisinau.

The official participated in the high-level dialogue workshop titled, Finance and Economic Growth: Lessons for Moldova's European Path, organized in Chisinau by the National Bank of Moldova (BNM). The event brings together senior officials from national and European authorities, representatives of international financial institutions and experts in the economic field.

At the opening of the workshop, Maria Luís Albuquerque said that she visited Moldova at a time when relations with the EU are stronger than ever and that the future of our country was in the European Union family.

"Moldova has made significant steps in implementing reforms, but there is still much to be done on the path to EU accession. The Commission will support this effort and provide political, technical and financial assistance every step of the way. (...) In Moldova, you are implementing reforms to improve the living standards of your citizens. In the European Union, we have the same goal, namely that prosperity and opportunity reach everyone," the official said.

She also said that the integration into the EU market brings rapid and tangible benefits, supported by reforms and it is important that they continue to ensure inclusive and competitive growth.

"Moldova is on the path to EU integration and we are trying to take steps for market’s integration. We must ensure that investors are confident when investing in infrastructure, innovation and the real economy that supports growth. Step by step, we are developing a more integrated market, one that provides companies with better access to finance, offers consumers greater choice and strengthens Europe's competitiveness, opening new paths for investment, which is so important here as Moldova progresses on the path of reforms," noted Maria Luís Albuquerque.

According to her, a strong economy means not only securing a higher standard of living for citizens, but is also an important measure of geopolitical power. "You know this better than others. At this crossroads of EU integration and Russian influence, economic fortification is very important," the European official stressed.

The European Commissioner also emphasized that any reform that improves market efficiency, any investment that creates a closer link between Moldova and the European Union, provided our country with opportunity to shape its future. She also said that, at this stage, the quality of reforms and actions taken mattered more than the speed at which they are implemented.

"I want to acknowledge all your efforts regarding alignment with the EU acquis; substantial progress has already been made. The commitment proved over the last few months shows this strategic direction and dedication to European values. (...) At this stage, quality matters much more than speed. Developing a robust and well-informed framework will not only lead to increased confidence, but will create conditions for sustainable growth and a deeper and more dynamic capital market. Such a foundation will strengthen financial resilience and build confidence, attracting investments and bringing tangible benefits to businesses and citizens," said the Commissioner.

The official assured that Moldova was not alone on its path and that the European Union would accompany the country on every step of its journey toward European integration.

"The European Union is committed to supporting you firmly. We appreciate your determination. Any reform, any investment, any step towards a stronger and more integrated market strengthens not only Moldova's economy and democracy, but also its place and voice in Europe and the European family. Each decision you make brings the country closer to Europe, which listens to your voice. The European Union will walk this path with you, as a partner towards prosperity and peace. Today's determination will shape Moldova's place in Europe for the next generations and I look forward to seeing the next chapters in your history," Maria Luís Albuquerque stressed.

The European Commissioner for Financial Services and the Union of Savings and Investments welcomed Moldova's accession to SEPA and reminded that the EU had launched a call inviting companies from the EU, Moldova and other states to explore new investment opportunities in Moldova.

"The aim of this initiative is to bring about a transformation for private investments in Moldova. These will be projects that receive support from the European Commission. Together with these efforts, we will encourage capital to flow and reach where it is needed for infrastructure’s modernization, bringing Moldova closer to the economic landscape of Europe," said the European Commissioner.

Chisinau today hosted the conference titled, Finance and Economic Growth: Lessons for Moldova's European Path, organized to create a strategic dialogue platform on financial and economic priorities in Moldova's irreversible path toward EU accession.

 

The participants in the event addressed central topics, such as aligning the financial sector to European standards and strengthening the prudential supervision framework, modernizing agriculture and rural finance through innovative instruments, energy security and sustainable investments focused on green transition, developing small- and medium-sized enterprises by enhancing competitiveness and stimulating innovation, as well as the integration of the capital market and the economy’s digital transformation, aimed at speeding up Moldova's connection to the single European market.