On November 1, a new agreement between the Republic of Moldova and the EU will come into force, designed to simplify trade between the parties and increase trade turnover.
According to the European Commission, in particular, the new agreements provide that both the EU and Moldova will mutually recognize each other's authorized economic agents programs, bringing together traders who meet certain criteria and, therefore, can benefit from simplified customs procedures. From November 1, both the EU and Moldova will provide mutual advantages to each other's authorized economic agents: less customs control and priority treatment in customs clearance. The agreement is an important step forward in trade relations between the EU and Moldova. This will further expand trade opportunities and facilitate the smooth flow of goods between both parties without compromising high security standards. It is emphasized that, at a time when businesses need all the support they can get to overcome the ongoing crisis due to the war in Ukraine, the agreement will make trading easier and cheaper for many EU and Moldovan traders. Relations between Moldova and the EU are governed by the Association Agreement, including the Deep and Comprehensive Free Trade Area (DCFTA). The EU cooperates with Moldova within the framework of the European Neighborhood Policy and its eastern regional dimension - the Eastern Partnership, the main goal of which is to bring Moldova closer to the EU. Herewith, the EU is the largest trading partner of Moldova, which accounts for 52.2% of its total trade. Exports from EU countries to Moldova in 2021 amounted to 3.8 billion euros. // 28.10.2022 — InfoMarket
