Moldova's export potential for the supply of products to the European Free Trade Association (EFTA) countries exceeds $134 million.
Minister of Economic Development and Digitalization Dumitru Alaiba stated this while commenting on the ratification by the Moldovan parliament of Moldova's free trade agreement with the European Free Trade Association (EFTA), which includes Iceland, Liechtenstein, Norway and Switzerland. He said that this agreement opens new markets and opportunities for Moldovan exporters, and is an additional chance for the prosperity of the Moldovan producers and our economy. Dumitru Alaiba said that Moldova's export potential for the supply of products to the EFTA countries exceeds $134 million, and, in particular, there is an excellent opportunity to increase the export of wine to these countries from $0.03 million to $5.93 million (197 times); seed oil - from $0.01 million to $1.98 million (198 times); stone fruits - from $0.07 million to $1.29 million (18 times). The Minister of Economic Development and Digitalization stressed that there is a significant potential for increasing the export of services. Thus, the export of transport services can be significantly increased from the current $15.12 million to a much higher level, the export of ICT services - from $12.65 million, while the tourism sector can be significantly developed with an increase in exports from the current $7.03 million. Dumitru Alaiba explained that, at the same time, the EFTA abolished customs duties on imports of Moldovan industrial products and improved market access for both basic and processed agricultural products, eliminating 85 per cent of tariffs on imports of agricultural products from Moldova. Overall, the agreement covers: services exports, intellectual property rights, competition, government procurement, sustainable development and e-commerce, providing a sound basis for developing economic relations and facilitating access to these markets. "We are opening up high-income markets where our products, from nuts and honey to exceptional wines and technology, will be appreciated. And it's not just about commodities. The agreement opens the way for services from information technology to tourism, fostering mutually beneficial cooperation. This agreement is a proof that Moldova is ready to establish partnership relations with some of the most prosperous economies in the world," the Minister said. // 29.03.2024 - InfoMarket
