Accession of Moldova to the Single Euro Payments Area (SEPA) will accelerate the achievement of the desired integration into the EU - Natalia Gavrilita.
The Prime Minister stated this during her participation in the international conference "Moldova's Accession to the Single Euro Payments Area - Achievements and Prospects". The event, organized by the National Bank of Moldova, was attended by representatives of the community of payment service providers in our country and high-ranking officials, including President of the National Bank of Moldova Octavian Armasu, EU Ambassador to Moldova Jānis Mažeiks, Director General of the European Payments Council Etienne Goosse. The participants analyzed the benefits and challenges of our country's accession to SEPA, the progress made by the authorities in this regard, and the necessary steps to prepare the accession dossier. In her speech, Natalia Gavrilita noted that the accession of Moldova to the SEPA zone remains a priority, since the economy of our country is closely interconnected with the economy of the European space. Currently, more than 60% of trade in goods and 80% of trade in services is in SEPA member countries, and almost 75% of foreign direct investment in the national economy is also in these countries. “Thanks to our integration into the SEPA zone, both citizens living in member countries and our companies will be able to count on lower costs and greater competitiveness. We will switch to cheaper bank transfers, which are essentially commission-free. This is not an easy process, there are certain technical, regulatory and financial obstacles, but I assure you on behalf of the executive branch that we will do everything in our power to facilitate and expedite the accession of our country to the Single Euro Payments Area,” said the head of the cabinet. She expressed her hope that the accession of our country to SEPA will accelerate the achievement of the desired integration into the EU. NBM President Octavian Armasu noted that Moldova's accession to SEPA is an event of national importance. “This is an important step in the context of our country obtaining the status of a candidate country and a new stage in the development of payment infrastructure by opening borders for a barrier-free payment market, which is much more convenient for citizens,” the head of the National Bank emphasized. In turn, EU Ambassador to Moldova Jānis Mažeiks noted that the European Union will continue to support Moldova as an EU candidate state, including by financing the Twinning project “Strengthening Supervision, Corporate Governance and Risk Management in the Financial Sector”. The implementation of this €1.7 million project helps our country modernize its regulatory and banking supervision system, develop a stable banking system that benefits citizens and businesses and ensures sustainable economic growth. “SEPA is a great example of what the EU is up to – setting high standards and creating tangible benefits for people. After joining SEPA, non-cash payments in euros with any EU country and a number of non-EU countries will become possible in a safe and fast way, as if they were international payments, and economic agents will have easy access to the European market,” said EU Ambassador to Moldova. // 17.11.2022 — InfoMarket
