The customs duties on the export of national products to the EU will be eliminated immediately after the Association Agreement with the EU, which includes the Deep and Comprehensive Free Trade Agreement, takes effect. The subject was discussed in the first seminar held at the Ministry of Economy to inform businessmen about the benefits of the given document, IPN reports.

The Ministry of Economy said that after the agreement comes into force, the Moldovan entrepreneurs will benefit from preferential conditions as regards the products’ access to the EU market. Moldova will gradually remove the customs duties on the selected agricultural products. This objective will be achieved within a longer transition period, of 10 years.

The national producers from the sensitive sectors will have more time adjust themselves to a more competitive environment. In the period, the consumers will be offered a wider range of products of a high quality at low prices.

The Deep and Comprehensive Free Trade Agreement ensures Moldova’s economic integration into the European market and envisions the gradual liberalization of trade in goods and services, free movement of the labor force, reduction in customs duties, technical and non-tariff barriers.

Unlike the current commercial regime called the Autonomous Trade Preferences, which was granted by the EU for an indefinite period, this accord will be a multilateral agreement for an unlimited period, predictable for businesses and investments on a long term.