China is the largest market of the world with a very large absorption capacity. Among Moldova’s trading partners, China takes the sixth position. In 2019, according to the data provided by the National Bureau of Statistics, Moldova exported goods totaling US$17.4 million to China. The World Bank, which recently carried out a study, said the supply chain disruption amid the pandemic and the recession of the main economic partners will constrain exports, director of the Investment Agency Rodica Verbeniuc stated in discussions centering on the commercial relations between Moldova and China, IPN reports.
China’s Ambassador to Moldova Zhang Yinghong said that China has a population of 1.4 billion and thus has the largest consumption potential. “You are welcome to export different products to China so as to strengthen economic and commercial cooperation between China and Moldova,” stated the ambassador. In times of pandemic, China promotes the stability of foreign trade, focusing on the support for enterprises so as to keep jobs, to increase the offer of loans, to cover export insurance. The liberalization and facilitation of trade and investment continue to be promoted. Free trade relations are established with other states.
Iuliana Drăgălin, secretary of state at the Ministry of Economy and Infrastructure, related that three rounds of negotiations on the Free Trade Agreement between the Republic of Moldova and the People’s Republic of China were held and the document is 70% ready. The last consultation was held this year, but the pandemic crisis disrupted the plans and it is not known when the negotiations will advance. The same is true about the abolition of visa requirements.
Andrei Crigan, of “Gateway & Partners”, said Moldova exports to China mainly industrial products (central heating boilers, integrated electronic circuits and parts), food products (wine, non-denatured ethyl alcohol, fruit juice), furniture products (furniture and parts), non-processed agricultural products (sugar beet, sugar cane), fabrics, etc.
National Office of Vine and Wine director Gheorghe Arpentin noted that China ranks fourth by the volume of wines sold to it. The average price of a bottle of wine is US$1.60. Owing to the pandemic, wine exports in the first five months of this year decreased in value by 35% and in volume by 19% compared with the corresponding period last year. The Office is preparing a plan for maintaining the pace of Moldova’s wine exports to China and works with Chinese influencers. They are working on a film about wine and will invite journalists from China to Moldova.
Orhei-Vit manager Vitaly Krupenenkov said China is one of their key partners. Last year they exported products to the value of over US$700,000 to this country. It wasn’t easy for them to gain the Chinese partners’ trust. Drying four years they invested in exhibitions. Among the obstacles to the relations with China are the great distance and the fact that the Chinese people do not know much about Moldova’s export potential.
Ex-Premier Dumitru Braghiș, who was proposed for Moldova’s Ambassador to China by the Government, noted that the potential of increasing Moldova’s exports to China is rather large. Moldova has what to export, while China is a huge market and can absorb these products. Moldova’s Embassy in China has supported such activities and will continue to cooperate with business entities and partners in China.
