Moldova marks four years since implementation of Deep and Comprehensive Free Trade Agreement with EU

16:24 | 01.09.2018 Category: Political

Chisinau, 1 September /MOLDPRES/- Moldova marks today four years since the implementation of the Deep and Comprehensive Free Trade Agreement with the European Union. On this occasion, the head of the EU Delegation to Chisinau, Peter Michalko, submitted a video message in this respect.

The official has reviewed the achievements over the four years and has stated that good results have been recorded both in terms of increasing bilateral trade and implementing reforms related to the implementation of the Free Trade Agreement.

“"We see very good results both in increasing bilateral trade and in implementing reforms related to the Free Trade Agreement. Nearly 68 per cent of Moldovan exports go to the EU, with a 23 per cent increase in the last year. Bilateral trade in 2018 has reached 4 billion euros. The trade balance of agricultural products, especially walnut, sunflower and wine, has improved considerably in favor of Moldova. Exports of vegetable products almost doubled in the last two years and reached 406 million euros," he said.

The official said that in addition to agriculture, trade has significantly increased. Similarly, the EU has become an important market for Moldovan IT services. These are the results of a few years. "

Michalko added that the EU backed Moldova over the years, and assured that the support will be provided further.

The Deep and Comprehensive Free Trade Area (DCFTA) is an agreement between the EU and the Republic of Moldova aimed at a preferential trade relationship based on advantageous conditions, giving each of these sides better market access than is offered to other partner trade. The Free Trade Agreement provides for the elimination of customs duties on imports in the trade of products between these parties. It aims to remove barriers to trade in services and better access for companies to those markets. The Free Trade Agreement entered into force on 1 September 2014.

(Reporter A. Zara, editor M. Jantovan)

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