The Association Agreement with the EU, which is to be ratified by Parliament today, July 2, complies with the national legislation from all aspects, including with the Government’s work program, Deputy Prime Minister and Minister of Foreign Affairs and European Integration Natalia Gherman says in the argumentation note accompanying the relevant bill, IPN reports.
According to Natalia Gherman, from normative viewpoint, the provisions of the Association Agreement do not run counter to the Constitution of the Republic of Moldova and the commitments deriving from Moldova’s participation in international treaties. In virtue of the accord’s provisions, Moldova pledged to gradually adjust its internal legislation to the European standards and principles so as to achieve the European integration objective.
The financial resources needed to efficiently implement the Association Agreement will be planned in the national budget and the medium-term expenditure framework. Moldova will also receive financial assistance from the EU and the development partners for putting the accord into practice.
Natalia German also said that from economic aspect, the EU is the most important commercial partner of Moldova, which accounts for about 45% of the country’s foreign trade. The Deep and Comprehensive Free Trade Agreement, which forms part of the Association Agreement, will generate business opportunities in Moldova and will promote real economic modernization. As a result of the creation of the DCFTA with the EU, the Moldovan people will benefit from safer products and services of a higher quality, while the producers will be assisted to more efficiently enter the foreign markets.
According to the official, when the DCFTA is implemented, the GDP will additionally grow by up to 5.4% in the long run. Moldova’s exports to the EU will rise by 15% in the short term and by 16% in the long term. Imports will increase by 6% and 8% respectively. Thus, the DCFTA will lead to a relative improvement in Moldova’s balance of trade.
The Association Agreement was signed for an indefinite period and takes effect on the first day of the next month after the day the last ratification or adoption instrument is submitted. The EU and Moldova agreed to start to implement parts of the accord before it is ratified by all the EU member states.
The negotiations on the Association Agreement began in 2010 and were completed in 2013. The accord was signed by Moldova and the EU on June 27 this year.
