The Republic of Moldova joined the Free Trade Agreement with the European Free Trade Association (EFTA), which brings together Iceland, Liechtenstein, Norway, and Switzerland. This means concessions and elimination of customs duties for a series of industrial and agricultural products. The document was signed in Liechtenstein, IPN reports.
In a news conference, Minister of Economic Development and Digitization Dumitru Alaiba said the signing of the agreement with EFTA is a significant step taken by the Republic of Moldova towards extending export markets and strengthening the commercial relations.
The EFTA agreement provides for the elimination of import duties for industrial products and facilitated access to the market for basic and processed agricultural products, such as fruit and vegetables, oil, juice, jams etc.
According to the minister, the pan-Euro-Mediterranean (PEM) preferential rules of origin applied under the agreement are similar to those applied in the relationship with the EU. The system of Pan-Euro-Mediterranean cumulation of origin allows for the application of diagonal cumulation between the EU, EFTA and other states. This means the EFTA states can become important destinations for national exporters of agrifood and industrial products.
Exports of Moldovan products to the EFTA market in 2022 came to US$66.70 million, while imports totaled US$56.14 million, with a positive trade balance of US$10.5 million. Switzerland is Moldova’s main EFTA commercial partner, with about 81% of trade. Norway accounts for approximately 14.7% of the commercial flows. Among the main Moldovan products exported to the EFTA states are grains, oils, fruit, walnuts, bakery products, wines, and textiles.
