Economics ministry says EU strengthens position of Moldova's main trade partner

Chisinau, 23 June /MOLDPRES/ - The Economics and Infrastructure Ministry (MEI) continues the string of events held through live sessions, the participants in which tackle the sectors within the institution’s competence, in the context of the COVID-19 pandemic.  Thus, the participants in a today’s news briefing unveiled the evolution of the commercial relations with the European Union and implementation of the Deep and Comprehensive Free Trade Agreement (DCFTA).  

The MEI state secretary, Iuliana Dragalin, reviewed the progress made by Moldova during those six years since the entrance into force of the Association Agreement between Moldova and the European Union, implicitly of the Free Trade Agreement. Dragalin noted that a motivating factor for the entrepreneurs and all interested sides remained the turning to account of the opportunities of the Association Agreement, as well as extending the production on foreign markets.

„EU has strengthened its position of main trade partner of Moldova, as 70 per cent of Moldovan exports go to the European market, while the imports account for 50 per cent. Amid the crisis created by the COVID-19 pandemic, which hits the states from all over the world, the tendencies of slowing down of the economic growth globally will be transposed in the decrease of the external demand and will diminish the effects of these factors,’’ the official stressed.    

According to data presented, the exports of goods meant for EU countries amounted to 824.23 million dollars in January-April 2020, holding a share of 64.20 per cent, down by 16.2 per cent against the same period of 2019. As for the imports of goods from the EU countries, on the same period, they stood at 1.65 billion dollars, holding a quota of 47.11 per cent or by 12.2 per cent less than in the same period of 2019.

According to Iuliana Dragalin, among the principal commercial partners of Moldova, there are Romania, Germany, Italy and Poland; Romania is the first trade partner, with a share of 24.61 per cent in terms of export and 12.43 per cent in terms of import.  

As for the structure of commerce according to the groups of goods, there are top ten products exported and imported by Moldova. According to data, on the concerned period, the exports of industrial products are higher than of the agro-food ones, with a ratio of 79 per cent to 21 per cent and they focus preponderantly on the sectors of producing wiring, automotive upholstery and textile articles.    

As far as the exports in agricultural products to the EU market are concerned, at a demand by the business environment, Moldova negotiated the increase in the free-tax tariff quotas for the export of table grapes and plums, as well as a new quota for sweet cherries without customs duties. Also, decision-makers increased the thresholds for starting the anti-circumvention mechanism for wheat, barley, maize and processed cereals.

„Despite the pandemic situation, Moldova’s dialogue with the European Union continues to be held and is focused on the consolidation of a strategic cooperation as to the sectoral collaboration on aspects dealing with the trade and carrying out of priority actions, in order to yield efficient results,’’ the state secretary at the Economics and Infrastructure Ministry, Iuliana Dragalin, added.