Moldovan parliament ratifies free trade agreement with Turkey

Chisinau, 31 March /MOLDPRES/- The parliament today adopted a draft law for ratifying the free trade agreement between Moldova and Turkey. The document was backed with the votes of 62 MPs.

The document comprises priorities and economic interests of the two countries, including the trade exchanges, degree of sensitivity of internal markets to certain categories of imported goods, as well as the form of trade liberalization.

Under the draft law, “the agreement covers 9,000 types of goods and removes administrative barriers to commerce. On the date of the document's entrance into force, all import duties, as well as any fees with equivalent effect applied on the industrial products, will be canceled, except for some industrial goods made in Turkey, such as: footwear, furniture, plastic products, for which the duties will be gradually removed within 3-5 years”.

As for the agricultural products, the document sees the giving mutual concessions, “with the negotiation of tariff quotas for goods of increased interest, including for certain periods of the year, within which a 100 per cent- discount of the customs duty will be made in the most-favoured-nation regime”, the agreement says.

The document will enter into force on the first day of the second month upon the date when the sides exchange written notifications on completing the domestic procedures of ratification. The free trade agreement between Moldova and Turkey was signed on 11 September 2014.

(Reporter A. Plitoc, editor M. Jantovan)