At a meeting on Wednesday, the government approved the ratification of the Agreement with the European Union on Moldova’s participation in the EU Single Market Program with a total budget of 4.2 billion euros.
The agreement was signed on September 8, 2023 in Brussels. The European Union's Single Market Program runs from 2021 to 2027, and Moldova has expressed interest in participating in the market surveillance and competitiveness components of its SMEs. As noted by the Ministry of Economic Development and Digitalization, the program is designed to prepare both the private sector and government institutions for European rules and standards, offering a more consistent and flexible financing structure to strengthen the potential for access to the single European market. In this way, the capacity and standards to comply with EU internal market rules will be increased and the competitiveness and sustainability of SMEs will be strengthened. New business opportunities will emerge and industrial value chains will develop. Moreover, thanks to this program, the efficient operation of trade will be ensured through the introduction of high European and international quality standards, which means a high level of consumer protection and product safety. “The EU Single Market program aims to support and promote a culture of innovation through the development of industrial ecosystems, which will stimulate the emergence of start-ups and contribute to the development of existing small and medium-sized enterprises. Also, special emphasis is placed on promoting new business models,” said State Secretary of the Ministry of Economic Development and Digitalization Mihail Lupascu. Also, in addition to access to financial instruments, Moldova’s accession to this program will ensure openness to the expertise, experience and best practices of other states, its beneficiaries. The Single Market program represents a significant step in the gradual integration of Moldova into the EU single market, open to free competition, which is the main goal of our country in the EU accession process. As previously reported, the Single Market Program is an EU financial support program with a budget of 4.2 billion euros, designed for 7 years (2021-2027). The program is designed to help simplify access to markets, create a favorable business environment, promote business development and growth, ensure the competitiveness and sustainability of companies and entire sectors of the economy (combination of ecosystems, clusters), development of the business environment, etc. // 18.10.2023 — InfoMarket.
