Customs duties on import of raw material to be cut in Moldova

Chisinau, 29 November /MOLDPRES/ - The raw material used in the production process, which is not available on the domestic market and cannot be imported under free trade agreements, will be exempted from customs duties. The cabinet approved a draft law to this end today.  

According to the Economic Development and Digitalization Ministry, the draft law’s goal is to ensure the friendly conditions of work for the native producers and a favourable investment climate in Moldova.  

„These changes will contribute to the creation of more advantageous conditions for purchasing raw material, without customs duties, and to the diminution of the production costs. Moreover, the amendments will lead to the opening of alternative markets, reduction of the risk of dependence on a single supply market and to the enhancement of the development of the processing industry,’’ the ministry said.  

At the same time, the draft will ensure the observance of Moldova’s commitments within the World Trade Organization as to the tariff ceilings established on import.