Moldova’s Free Trade Area with the European Union is an anchor of stability for our state, but also for the economy / Study
The Free Trade Area that the Republic of Moldova has with the European Union is an anchor of stability for our state, but also for our economy. In recent years, since the implementation of the DCFTA, the Republic of Moldova has considerably increased its exports to the European Union, and many European businesses have been opened. These are some of the conclusions of a DCFTA evaluation study carried out by the Institute for European Policies and Reforms and the Center for European Political Studies in Brussels, Radio Chisinau reports.
In the more than seven years since the Deep and Comprehensive Free Trade Area (DCFTA) was implemented between the EU and the Republic of Moldova, exports to the EU bloc have increased considerably. EU Ambassador to Chisinau Janis Mazeiks said that exports have been modernized in recent years and that the European Union remains the largest investor in Moldova.
“It is strange to see the public perception when Russia is still privileged as the largest trading partner of the Republic of Moldova. Moldovan exports have now become much more modern: in addition to apples, you also manage to sell spare parts for cars. And in fact, the Republic of Moldova exports far more agricultural products to the EU than to the Russian Federation. The EU is the largest social investor in the Republic of Moldova. And in fact, we are the largest development partner of the Republic of Moldova”.
The problems that the Republic of Moldova has had in the justice system and corruption have diminished the chances for the country to take full advantage of the Free Trade Area with the EU.
Foreign Minister Nicu Popescu to the DCFTA allowed the Republic of Moldova to create more jobs and enjoy stability, especially economic. He noted that Moldova’s exports to the EU have increased at a higher rate than in other countries.
“This did not allow us to keep and create jobs. This did not allow us to be a bit more prosperous in the Republic of Moldova than we would have been if we did not have this exit on the European market. This has allowed us as a state to survive in a very long period of geopolitical and economic policy. “
The EU-Moldova Deep and Comprehensive Free Trade Area entered into force in 2014.