Moldovan PM welcomes signing of application on joining Single Euro Payments Area

Chisinau, 30 January /MOLDPRES/ - The signing of the application on the accession to the Single Euro Payments Area (SEPA) is an important step for the entire banking system, which will eventually lead to the enhancement of the welfare of each Moldova’s citizen. Prime Minister Dorin Recean has made statements to this effect, the government’s communication department reported.   

The PM specified that Moldova’s accession to SEPA would lead to the significant simplification of the transactions in cash both of Moldovan citizens and of Moldovan companies with their partners from those 36  member countries of the system – all European Union member states, as well as Switzerland, the United Kingdom, Norway, Iceland, Liechtenstein, San Marino, Vatican, Andorra and Monaco.   

„The accession to SEPA means lower or zero commissions on the internal cross-border transactions between the member countries, including where a large number of Moldovan citizens live, facilitation of the access to new markets through common standards, much easier and quicker transfers, as well as their higher safety. The small- and medium-sized enterprises will benefit from the improvement of the flow in cash and the cutting of costs, while the big companies can consolidate their own payments, managing the liquidities in a centralized way and enhancing the efficiency,’’ Prime Minister Dorin Recean said.

The accession of Moldova to SEPA represents an exercise of national importance and an essential country project, in the context of Moldova’s accession to the European Union. It is implemented within the support of the Twinning Project, Strengthening supervision, corporate governance and risk management in the financial sector of Moldova. This initiative will result in the delivery of non-cash payments in euros to and from the EU space, providing safer, quicker and more convenient solutions to Moldova’s citizens.