Moldova since the start of the implementation of the Deep and Compressive Free Trade Agreement with the EU (DCFTA) in 2014 has exported goods to the value of over US$2.2 billion to the EU, IPN reports, quoting the Ministry of Economy.
When the agreement started to be put into practice, the structure of Moldova’s exports changed. The share of the industrial goods rose to 65% of the exports. Grain exports through the anti-circumvention mechanism also increased. In the first half of 2016 alone, there were exported over 178,000 tonnes of wheat (237% of the import quota of 75,000 tonnes), more than 10,000 tonnes of processed grains (420% of the quota of 2,500 tonnes), and 38,000 tonnes of sugar (104% of the quota of 37,000 tonnes).
The main European trading partners are: Romania (23.8% of Moldova’s exports), Italy (10%), the UK (6.5%), Germany (6.5%), France (2.5%) and Poland (3.3%). The Netherlands, Cyprus, France and Spain are the main foreign investors. The foreign direct investment in the national economy in 2015 came to US$228.5 million, an increase of 14% compared with 2014.
In a move to adjust the national standardization system to the EU’s, there were adopted about 8,500 European/international standards. Consecutively, more than 11,400 Moldovan standards that ran counter to the European ones or were outdated were annulled in 2014-2016. Important progress was also made in adopting legislation in the areas of public procurement and financial services.
