Moldova celebrates the 20th anniversary of its accession to the WTO.
According to the MFAEI, on July 26, 2001, after 7 years of negotiations, our country became a full member of the World Trade Organization (WTO). Since joining the WTO, Moldova has initiated a reform program aimed at transforming a planned economy into a fully functioning market economy and strengthening macroeconomic stability. It is noted that joining the WTO, along with the process of European integration, has become a catalyst for economic transformations and reforms in the country. Moldova has largely achieved its main objectives. In particular, a high level of liberalization of trade in goods (with mandatory duties from 0 to 15%) and services (147 liberalized sectors out of 155) has been achieved. In the conclusions of the WTO experts, it is noted that trade in goods has grown significantly thanks to lower taxes, minimal trade barriers and predictable rules. The trade structure has also been improved thanks to the export diversification policy. In addition, within the framework of the WTO, Moldova provides protection to local producers, stimulates the reduction of production costs, offers a wider range of goods and, ultimately, makes it easier to generate income and improve the well-being of the population. The priority on the agenda of Moldova's economic diplomacy within WTO remains to support joint initiatives in the field of e-commerce, investment promotion, support for SMEs, etc. // 27.07.2021 - InfoMarket
