Moldovan cabinet approves agreement with Kazakhstan on commercial, economic cooperation

Chisinau, 5 September /MOLDPRES/ - The cabinet of ministers today approved the agreement between Moldova and Kazakhstan on commercial and economic cooperation, and will submit it to parliament for informing. Economics and Infrastructure Minister Chiril Gaburici signed the agreement on 16 March 2018.     

The agreement is signed for a five-year period and is automatically renewed for successive periods of five years.

The document’s approval is dictated by the need to extend and diversify the export markets for Moldovan goods, as well as by the existence of interest on behalf native economic agents from the agro-food sector in establishing trade relations with Kazakhstan. The Economics Ministry said that, among the positive consequences of the agreement, there are the increase in commercial flows, especially the growth of imports on the Kazakh market, enhancement of the competitiveness of small- and medium-sized enterprises and diversification of Moldova’s exports markets.    

Data by the National Statistics Bureau shows that Moldova’s exports to the  Kazakh market had increased by 29.3 per cent against the year before and the imports had grown 2.3-fold. The commercial and economic ties between the two countries have a much bigger unexplored potential.     

Moldova has signed over 30 such agreements and has created joint economic commissions with 27 countries.

(Reporter V. Bercu, editor L. Alcaza)