Moldova-EFTA Deal Boosts Trade, Cuts Tariffs
Companies belonging to the European Free Trade Association (EFTA) that invest in the economy of the Republic of Moldova will benefit from certain advantages.
Additionally, Moldovan exporters will enjoy improved commercial and economic conditions within the markets of EFTA member states. This is made possible by the Free Trade Agreement between the Republic of Moldova and EFTA member states, recently ratified by Parliament.
Dumitru Alaiba, the Minister of Economy and Digitalization, views the Agreement as a significant opportunity for Moldovan exporters.
“It represents a gateway to new opportunities in large markets with consumers who have very high purchasing power. We are referring to some of the wealthiest nations in the world. This agreement presents an opening for industrial products, with import customs duties being entirely eliminated. For agricultural products, 85% of import tariffs will be removed. Our export potential in these markets is currently estimated at 134 million dollars,” the minister stated.
The European Free Trade Association comprises four member states: Iceland, the Principality of Liechtenstein, the Kingdom of Norway, and the Swiss Confederation. EFTA currently holds 29 Free Trade Agreements with 40 countries and territories outside the European Union, including Georgia, Ukraine, Turkey, Bosnia and Herzegovina, Albania, Serbia, and Macedonia.
Translation by Iurie Tataru
