Moldova on June 13 and 14 will host a meeting of major producers and suppliers of the automotive industry within the Moldova Automotive Days 2017. Minister of Economy Octavian Calmac told a news conference that the event will provide a suitable framework for facilitating business partnerships between the largest international automobile manufacturers and local suppliers, IPN reports.

The minister said the automotive industry in the Republic of Moldova revives and becomes increasingly competitive on the regional and international markets. During the last five years, exports in this sector grew significantly. In 2012, the exports of car parts totaled €137 million, while in 2016 the figure rose to over €356 million.

Octavian Calmac noted that the automotive industry is currently a sector with big potential. There is place for more companies in the Free Economic Zones that have a rather attractive customs and fiscal regime. A large part of the companies that started business earlier are at the production extension phase now. The Republic of Moldova is a good destination for investors, while the development potential of this industry is infinite.

Director of the Moldova Investment Attraction and Export Promotion Organization (MIEPO) Vitalie Zaharia said 45 investors from such countries as Germany, Japan, Italy and the United States and 74 national companies have confirmed their participation in the Moldova Automotive Days 2017. The participants will be able to learn how to establish partnerships with companies that are members of the two largest German associations in the field and how they can become suppliers of the global automotive supplier and auto parts manufacturer MAGNA. There will be staged a career fair for graduates of engineering faculties, where 15 automotive companies of Moldova will present their offers.

On June 14, the foreign investors will make visits to Free Economic Zones where automotive components manufacturers are based.