The last, seventh round of the talks on the Deep and Comprehensive Free Trade Agreement with the European Union will take place in Chisinau on June 11-12. Ala Codreanu, of the Economy Ministry’s Information and Communication with the Media Service, has told IPN that Deputy Prime Minister and Minister of Economy Valeriu Lazar will have a bilateral meeting with the EU’s chief negotiator Luc Devigne, of the Directorate General for Trade of the European Commission.

Valeriu Lazar will give a speech in the opening of the round of talks, while in the meeting with Luc Devigne will take stock of the previous negotiations and will confer on the implementation of the agreement in the eastern districts of the country. In the end, he will hold a news conference.

The talks started on March 19, 2012. After the final text of the accord is agreed, the EU will perform a series of internal protocol procedures. The Government of Moldova is hopeful that the agreement will be initialed this year and will be signed in 2014.

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

Unlike the current commercial regime, which is a unilateral one and was granted by the EU for a limited period, the DCFTA will be a multilateral accord for an unlimited period, with long-term predictability for businesses and investments. According to a study made by the EU, this agreement will enable Moldova to increase its exports by 16%, while the country’s GDP will rise by 5.6%.