Parliament ratified the Free Trade Agreement between Moldova and the European Free Trade Association (EFTA).
It includes Switzerland, Norway, Iceland and Liechtenstein. The said agreement was signed on June 27, 2023 in Schaan (Liechtenstein) and is aimed at strengthening economic cooperation between the parties, expanding bilateral trade, eliminating trade barriers and restrictions, and creating conditions for fair competition. It is planned that the implementation of the Free Trade Agreement between Moldova and the European Free Trade Association (EFTA) will facilitate access for Moldovan products to the richest markets in the world and will allow domestic producers to export goods without paying customs duties to the four EFTA member countries. The opening of new export markets for our entrepreneurs means more products sold, higher incomes and more new jobs in the country. In addition, the agreement will encourage investments in Moldova by companies from EFTA countries. The document abolishes customs duties on imports of industrial products and provides benefits for access to the market for agricultural products. The signed agreement covers the following areas: trade in goods and services, intellectual property rights, competition, government procurement, sustainable development, e-commerce, etc. Ratification of the agreement will open a number of opportunities for creating new jobs in various sectors of the Moldovan economy. Indirect benefits include improving the well-being of the population and creating new opportunities for domestic export-oriented economic agents. Currently, EFTA countries have signed similar agreements with 40 countries. According to the National Bureau of Statistics, in 2023, the export of Moldovan products to the EFTA market amounted to $33.3 million, and imports from these countries - $64.1 million. In 2022, the volume of imports and exports between Moldova and the EFTA countries amounted to $122.84 million. At the same time, the export of Moldovan products to the market of EFTA countries in 2022 amounted to $66.7 million, and imports from there - $56.14 million. The positive trade balance amounted to $10.56 million. The main trading partner of Moldova from the EFTA countries is Switzerland , which accounts for about 81% of trade volumes with EFTA countries, as well as Norway (14.7%). The main Moldovan products exported to the EFTA market are grains, oils, fruits, nuts, bakery products, wines, and textiles.//28.03.2024 – InfoMarket.
