The Republic of Moldova and the People’s Republic of China by this yearend will open negotiations on the formulation and signing of a Free Trade Agreement between the two states. Such an agreement was reached by Deputy Prime Minister and Minister of Commerce Octavian Calmac and Chinese Minister of Commerce Gao Hucheng in a meeting in Beijing, IPN reports.

In a press release, the Ministry of Economy says the signing of such a document will facilitate the bilateral commercial-economic relations and will enable to initiate and implement investment projects with the participation of companies from Moldova and China.

Gao Hucheng noted that the development of commercial-economic relations with the Republic of Moldova, which has a favorable geographical position, is one of the priorities of a number of Chinese companies that intend to extend their operations into Moldova and the EU market as well.

The Chinese official said the signing of such an accord will open up new opportunities not only for developing the relations between the two states, but also for launching successful bilateral projects. The Chinese side is ready to support investment projects in different areas such as energy, transport and technical assistance in developing the communications infrastructure for the public and private sectors of Moldova.

While on a working visit to China, Octavian Calmac had meetings with representatives of the Chinese Government and of the province Guizhou. He also took part in the sixth International Alcoholic Beverages Exhibition and in the World Summit of Wine Producers, where he gave a presentation on Moldova and its investment climate and on the opportunities offered within the Association Agreement with the EU.