The MPs ratified the Free Trade Agreement with Iceland, the Principality of Liechtenstein, the Kingdom of Norway and the Swiss Confederation (EFTA). According to the Ministry of Economic Development and Digitalization, the document aims to strengthen economic cooperation between states and expand trade, IPN reports.

The agreement will provide opportune conditions for the export of Moldovan products, and companies from EFTA countries will be encouraged to invest in Moldova.

The document envisions the elimination of customs duties on imports of industrial products and the provision of market access concessions for agricultural products.

To date, EFTA has signed 29 free trade agreements with 40 countries.

The Free Trade Agreement between Moldova and EFTA member states was signed on June 27, 2023.