There are no risks for a macroeconomic situation in Moldova and there is no risk of certain categories of goods disappearing from stores.
Food imported earlier from Russia, Belarus, Ukraine will be replaced by analogues from other markets, including from the European Union. Economy Minister Sergiu Gaibu stated this while speaking about the impact of the war in Ukraine on our country's economy. In the context of the situation in Ukraine and the concerns expressed by the general public about the availability of certain consumer goods in Moldovan stores, he noted that the Ministry of Economy had previously held extensive and active discussions with business associations, economic sectors and colleagues from the Ministry of Agriculture and Food Industry. "We have assessed the possible impact of the war in Ukraine on our economy; we have some preliminary figures. So, as far as exports are concerned, Moldovan exports to Ukraine are 3% of total exports in value terms, to Belarus - also about 3%, and to Russia - 8.8%, but more than a quarter is re-export. So, at the macroeconomic level, there won't be a big impact on the national economy, since the impact of Moldovan exports to the three aforementioned countries on the Moldovan business is insignificant," Sergiu Gaibu said. Gaibu said that talks are held with international partners and other markets, in order to find ways to redirect the exports. The Economy Minister reminded that the national economy has already significantly re-oriented towards other markets, and has established very good relations with partners from the EU and other parts of the world. Sergiu Gaibu said that in order to refocus on other markets, the Organization for the Development of the Small and Medium Enterprises Sector (ODIMM) offers a number of internationalization programmes to entrepreneurs. Most SMEs already export to the EU market. "So there are clearly defined practices, and the relevant organizations can help business entities in this regard. And we work together to help everyone who wants to refocus on these markets," said the Minister of Economy. As for the imports, Sergiu Gaibu said that Belarus accounts for about 2% of the total volume of Moldovan imports in value terms and Russia imports 14%, but energy resources account for more than half of the imports from Russia. Ukraine accounts for about 9.3% of the total volume of Moldovan imports. The Minister of Economy stated that there are alternatives to products imported from these countries, and goods imported from them can be replaced by products from other markets, including the European Union countries. According to him, the Ministry of Economy has held talks with importers and retail networks, which guaranteed the availability of sufficient stocks in their warehouses, and said they were negotiating with their partners in other countries to replace products from alternative markets and had already increased orders to replace certain items. "We should understand that not very many items require replacement or repositioning from other markets. Most products already have alternatives in Moldova that need to be used, they can already be replaced. Yes, the palette may not correspond exactly with what it used to be, but there is no risk that certain categories of products will disappear from the shelves. In addition, we can't forget about our domestic manufacturers. We have national producers for most of the goods on the shelves, and this is an opportunity for companies to develop domestic production capacities as well. They have such opportunities. We are discussing with manufacturers and the Ministry of Agriculture to ensure a complete and uninterrupted supply of products. But at this point there is no reason to worry and no risk of disappearance of certain categories of goods from the stores. Efforts must be taken by all. The government is trying to help in every way possible to redirect the supply of products and create new logistics chains. But companies also have to refocus. There are forwarding companies, there is the Chamber of Commerce, which knows these practices and, along with the government, it will help economic agents to reorient. Yes, a general effort is needed, but there is nothing that will have a significant impact on the macroeconomic level of the country," said the Minister of Economy. // 10.03.2022 - InfoMarket.
