The Republic of Moldova has signed a Free Trade Agreement with the European Free Trade Association (EFTA) that consists of Iceland, Liechtenstein, Norway, and Switzerland. Under the agreement, customs duties on the export of particular Moldovan agricultural products will be decreased, while Moldova will eliminate all the customs duties on the import of industrial products. The document also contains provisions concerning electronic trade, IPN reports.
Premier Dorin Recean said the document will bring more investments and jobs, will contribute to larger exports and to the diversification of commercial partners, to economic stability and better integration into the European market. “Despite the multiple crises faced by our country, we are looking for new export markets for the Moldovan products and new opportunities for businesspeople. The signing of such an agreement strengthens the economic ties between Moldova and the Western states, stimulates international cooperation and transmits a clear message to our partners. Moldova obeys the principles of free trade and promotes a transparent and predictable environment for crossborder commercial transactions,” stated the official.
“The signing of the agreement with the countries of the European Free Trade Association opens the grates for Moldovan produces in a commercial environment of a high quality, offering access to a diverse segment of consumers who are ready to pay premium prices for goods of the highest quality. This ensures immense growth potential for Moldovan exporters and can generate significant revenues for the country’s’ economy,” said Minister of Economic Development and Digitization Dumitru Alaiba.
The negotiations on the agreement were preceded by the signing of a joint statement on cooperation in November 2017. In March 2021 – March 2023, there were held five complete rounds of negotiations and a number of discussions sessions that involved the concerned states.
“After over two years of negotiations, the signing of this agreement was possible thanks to our permanent dialogue and the openness of our European partners to our development agenda. This is one more important step towards our economic integration into Europe and it contributes to maintaining stability and increasing the welfare of citizens,” noted President Maia Sandu.
According to the National Bureau of Statistics, trade between Moldova and the EFTA states in 2022 was US$122.84 million. So far the European Free Trade Association has signed 29 Free Trade Agreements with non-EU countries.
