Regional convention on pan-Euro-Mediterranean preferential rules of origin enters into force for Moldova

11:10 | 10.09.2015 Category: Economic

Chisinau, 10 September /MOLDPRES/- The Regional Convention on pan-Euro-Mediterranean preferential rules of origin (PEM) entered into force for Moldova on 1 September. The convention is adopted in Brussels in 2009, according to a press release by the Economics Ministry.

Adhesion to the PEM convention can create economic benefits for Moldova, especially, in terms of opportunities of attracting additional investments in industrial sector and processing raw materials. Applying a set of common rules for all member states creates a friendly and transparent environment for trade exchanges. At the same time, this serves as a perfect platform for identifying suppliers of raw material and new sales markets in the entire Euro-Mediterranean region.

Thus, Moldova may cumulate in trade with goods the origin with EU member states and Central European Free Trade Agreement member countries. Also, the origin of goods will be cumulated after the entrance into force of the Free Trade Agreement with Turkey, as well as with member states of the Convention, with which free trade agreements will be signed.

The member countries of the PEM Convention apply the same set of rules of origin within the Convention, which allows providing the same preferential origin regime to all goods that were got and/or processed well-enough on the territory of the member states, with which they had signed Free Change Agreements. At the same time, the adhesion to the PEM Convention may be considered as an important step in developing commercial relations between Moldova and the European Union, that will allow turning to good account the potential of the preferential trade regime with EU.

The Regional Convention on pan-Euro-Mediterranean preferential rules of origin consolidates all protocols on the rules of origin in force between the members of the system of common pan-Euro-Mediterranean origin in a single document. Also, the Convention integrates all protocols on the rules of origin in force between the main partners participants in the Association Process, Moldova is a member of as well.

Presently, the PEM Convention has 42 member states.

(Reporter A. Mardare, editor M. Jantovan)

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