The Republic of Moldova will withdraw from the International Sugar Agreement that was adopted in Geneva on March 20, 1992 and also from the International Sugar Organization, IPN reports.

The decision was taken by the Government after analyzing the development tendencies in the sugar industry and the existing sugar supplies and after consulting the business community.

“The withdrawal from the International Sugar Agreement was proposed after determining the efficiency of the Republic of Moldova’s participation in the International Sugar Organization. This way, it was ascertained that our country didn’t see any benefits. The Republic of Moldova’s withdrawal from the given agreement will not have consequences at internal, bilateral, regional or multilateral levels and will not create impediments to signing other treaties,” said Deputy Prime Minister Vladimir Bolea, Minister of Agriculture and Food Industry.