MEC considers European integration as reference axis for Moldova’s foreign and national policies

European Integration represents for the R. of Moldova a reference axis both for its foreign and internal policies, deputy minister of Economy and Commerce Viorel Melnic stated as part of the South East Europe Economic Forum in Sofia (Bulgaria), taking place in the period from October 31 to November 1. According to the deputy minister, in order to expand partnership and cooperation relations between the R. of Moldova and the European community and improve the investment climate, the Government from Chisinau operates structural reforms oriented towards the attraction of foreign investments, secures conditions for business. Important efforts have been made in order to develop a favorable business environment, such as creating benefic conditions for business and offering guarantees and advantages to the economic agents which run their businesses on the territory of Moldova, the official says. According to Melnic, the EU decision to include the R. of Moldova, starting January 1, 2006, in the list of states benefiting from the GSP Plus preferential trade regime, is of great importance. The R. of Moldova’s respect for the engagements taken upon itself as part of the Title III of the Partnership and Cooperation Agreement is essential for Moldovan authorities, for eliminating quantity restrictions, double taxation and application of MFN in strict accordance with the normative content of the PCA. Several measures have been taken with the aim of obtaining the Autonomous Commercial Preferences from the European Union. In 2006, Moldova reestablished its relations with IMF, by signing a new crediting agreement between the Executive Board of IMF and RM, based on Moldova’s obligations taken upon itself through the Economic Growth and Poverty Reduction Strategy Paper and the EU Moldova Action Plan. This fact led to the Paris Club’s acceptance to restructure Moldova’s foreign debt. At the same time, efforts are made in order to attract investments for implementing priority projects, in cooperation with international organizations - IMF, World Bank, UNDP, EBRD, Organization of the Black Sea Economic Cooperation, Stability Pact for South Eastern Europe, UNIDO etc. At present, 2300 companies with foreign capital operate in the R. of Moldova, which have invested over the last 10 years about USD 1.1 bln in the national economy. At the same time, the R. of Moldova signed bilateral agreements with 35 countries of the world concerning promotion and reciprocal protection of investments.