The Deep and Comprehensive Free Trade Agreement with the European Union will most probably come into force at the end of this year, not at the start of 2015, as projected earlier, Deputy Prime Minister and Minster of Economy Valeriu Lazar said in the Moldovan-Italian Forum held in Chisinau on April 11, IPN reports.
According to the official, when the accord takes effect, Moldova will become more attractive for foreign investors as the legal civil and commercial framework was adjusted and the process of consolidating the institutions for its better implementation is in full swing.
Valeriu Lazar stated the industrial companies will be given a vacation of half a year on paying VAT on the imported raw material on condition that the finished products are exported.
Given that the trade with the EU and Turkey is liberalized, the Ministry of Economy is working out a number of instruments to support the competitiveness of the national companies in order to make use of the opportunities offered by the Deep and Comprehensive Free Trade Agreement with the EU.
In another development, the Deputy Prime Minister said that despite the external risks, they hope the forecasts of an economic growth of 3 - 4% in 2014 will come true. “The internal structural reforms and the implemented infrastructure projects will offset the possible external risks. In the first months of this year, industry saw upward trends, while the agricultural year promises to be good. This makes us maintain the initial forecasts, at least fort now,” said Valeriu Lazar, adding that one more privatization round will be held in 2014 to sell attractive enterprises following the recent privation of a series of industrial companies.
