Moldova’s endeavor to join the Single Euro Payments Area (SEPA) represents a national project, an essential step on our country’s path to EU membership, stated National Bank president Octavian Armașu. Accession to SEPA will open the doors to a payment market without barriers, which will bring the citizens of the Republic of Moldova cashless payments in euros to and from the European area much safer, faster and in a more convenient manner.
The statements were made during the conference titled “Moldova’s Accession to the Single Euro Payments Area - Achievements and Prospects", held on Thursday in Chisinau.
Octavian Armașu noted that the accession to SEPA is a complex process. It involves joint and coordinated activities from a number of governmental authorities. “We can say with confidence that the financial system in the Republic of Moldova has reached a level of maturity sufficient to develop a partnership with the financial-banking community in the European Union, especially in the field of development of payment systems. The strong economic relations that have developed in recent years between the Republic of Moldova and the EU represent an additional argument that justifies the efforts to become a state that is part of the SEPA geographical area”, said Octavian Armașu.
Attending the event, Prime Minister Natalia Gavrilița said that European integration means well-being, fair justice, clear rules and transparent institutions. “When we talk about joining SEPA, it seems like a more technical thing. But, in order for all citizens to understand us, let’s think about how much progress there will be after the remittances sent by minibuses, relatives or other ways will switch to cheap, commission-free bank transfers”. According to the prime minister, the advantages are not only for Moldovans working or living in the countries that are part of the Single Euro Payments Area, but also for the business community. “Accession to SEPA is not an easy process, requiring technical, regulatory and financial efforts. On the part of the executive, we will do absolutely everything in our power to facilitate this process, speed it up and bring it as close as possible to reality”, the prime minister promised.
EU Ambassador to Moldova Jānis Mazeiks said that the European Union is a long-term partner for the benefit of the business community and the citizens of the Republic of Moldova. “We did this by directly participating in various initiatives, including expert assistance missions, but also by providing financial support”, added the European diplomat.
The conference was organized as part of the EU-financed twinning project “Strengthening supervision, corporate governance and risk management in the financial sector”.
