Minister of Economic Development: Agreement with EFTA - significant step to expand export markets and strengthen trade relations

Chisinau, July 5. /MOLDPRES/- The signing of the free trade agreement with the European Free Trade Association (EFTA), which includes Iceland, Liechtenstein, Norway and Switzerland, represents a significant step for the Republic of Moldova to expand export markets and strengthen trade relations. Through facilitated access to prosperous markets, our country has the chance to promote its products and services internationally, attract foreign investment and create jobs in key sectors of the economy. Deputy Prime Minister Dumitru Alaiba, Minister of Economic Development and Digitalization made the statements today.

"By eliminating customs duties for Moldovan products in the EFTA states, our country opens up new opportunities for export and attracts the attention of very prosperous economies. This means that our products and services will have easier access to these markets. It means a potential for investments from those countries", said Dumitru Alaiba.

The document provides for the elimination of customs duties on imports of industrial products and facilities for market access of agricultural products. In the case of the latter, EFTA member states have provided improved market access compared to other non-EU states such as Georgia, Ukraine, Turkey. "We obtained significant facilities for both basic and processed agricultural products such as: dairy products, honey, fresh vegetables (cucumbers, tomatoes, onions, garlic, carrots, cabbage, etc.), dried vegetables, fresh fruits (apples, pears, grapes, apricots, plums, strawberries, cherries, etc. and other seasonal fruits), dried fruits, nuts, some types of cereals, wheat flour used for industrial purposes, oil seeds (including sunflower), sunflower seed oil used for industrial purposes, prepared or preserved vegetables and fruits, juices and jams", he said.

Alaiba said that currently the trade balance with the EFTA states is positive, which means that the Republic of Moldova exports more to the member states than it imports. Moldovan exports to the EFTA market reached about 66.7 million US dollars in 2022, and imports reached 56.14 million dollars, registering a positive trade balance of about 10.5 million dollars. The main trade partners of Moldova among the EFTA countries are Switzerland, with about 81% of trade flows, as well as Norway, with about 14.7% of the flows. The main Moldovan products exported to the EFTA market are cereals, oils, fruits, nuts, bakery products, wines, textiles.

The Free Trade Agreement with EFTA was signed on June 27, during Prime Minister Dorin Recean's visit to the Principality of Liechtenstein.