The Moldovan companies will be able to take part in public procurement contests held outside the country. This is provided in a bill on Moldova’s accession to the World Trade Organization’s Agreement on Government Procurement hat was approved by the Government, IPN reports.

This Agreement is an important instrument for creating and maintaining an efficient national public procurement system. Its implementation will encourage foreign investment through the participation of foreign companies in tender contests in Moldova. The Moldovan companies will also be able to take part in government procurement abroad and to learn the best international practices in the area of public procurement, based on transparency, open competition and free trade.

According to the authors, Moldova’s accession to the World Trade Organization’s Agreement on Government Procurement is important for liberalizing trade. In this regard, the governmental institutions took a series of reformatory measures in this field, including the approval of Law No. 131 of July 3, 2015 concerning government procurement, which took effect on May 1, 2016.

In accordance with the decision of the WTO’s Committee, the Republic of Moldova is to ratify the Agreement until June 16 this year.