EU fact-finding mission counts on stronger trade relations with Moldova
The European Commission's experts team led by Director Ewa Synowiec from Directorate General for Trade had carried out a fact-finding mission to Chisinau on May 31 – June 2. This mission will help in streamlining a preparatory process for future negotiations of a deep and comprehensive free trade area (DCFTA), Info-Prim Neo reports, quoting a press release from the EU Delegation to Moldova.
Political association and economic integration to be provided by the Association Agreement between the EU and Moldova are key elements of the EU's Eastern Partnership initiative launched with six beneficiary countries, including Moldova, at the summit in Prague in May 2009, it is said in the press release.
The European Commission's team had 2 days of meetings at technical level with Moldovan officials representing various governmental agencies and bodies. The discussions covering the subjects to be included in the future deep and comprehensive free trade area should enable the European Commission to identify priorities for reforms to be conducted in the short run which would help Moldova to prepare for the launch of negotiations on the DCFTA with the EU.
The DCFTA would considerably upgrade the present trade ties by offering both sides preferential access to each other's markets not only by removing tariff but also non-tariff and regulatory barriers. It will support economic reforms in Moldova, notably in trade related areas as e.g. sanitary and phyto-sanitary measures, technical regulations and standards ensuring safety and quality of products for consumers, protection of intellectual property rights, public procurement etc. As a result it would create new export opportunities for Moldovan business and farmers. The EU is committed to continuing to assist Moldova in its reform process, including by providing technical assistance.
A possible future DCFTA between the EU and Moldova which is one of the most important elements of the Eastern Partnership initiative would lead to Moldova’s genuine integration with the EU’s internal market, thus bringing in the medium and longer term economic benefits to the Moldovan companies, farmers and consumers.
Concretely, an ambitious bilateral DCFTA would not only gradually remove the remaining tariffs in the bilateral trade in goods, but also provide for liberalisation of provision of services, investment and access to public procurement, and anchor Moldova’s trade related reforms through gradual approximation of its legislation and practices with the relevant EU laws.
To this end the Moldovan Government has been invited to concentrate its efforts on adoption and proper implementation and enforcement of the law and strengthening institutional capacity. This would have a positive impact on transparency and predictability of Moldova’s legislative framework and hence create a business friendly environment for domestic companies and foreign investors and as a result contribute to the economic growth, diversification of the economy and creation of jobs.