Data updating to the bank – from necessity to commercial opportunities
Owing to the implementation of the Deep and Comprehensive Free Trade Agreement (DCFTA), which forms part of the Association Agreement with the European Union, Moldova’s exports of agrifood products to the EU rose by 44% and Moldovan producers’ competitiveness improved as a result. This also had important macro-social effects. However, to be able to fully benefit from the DCFTA, a stable economic and political farmworker should exist and more attention should be devoted to the export of products of animal origin by modernizing the quality infrastructure. Also, the advantages of the DCFTA should be popularized in the business sector, economic expert Adrian Lupușor stated when presenting the analysis of the impact of the four-year implementation of the DCFTA, IPN reports.
The analysis shows that after four years, the European Union became the most important and reliable commercial partner for Moldovan producers. €2 of €3 won from Moldova’s exports comes now from the EU, as opposed to €1 of €2 in 2014, which is a net growth of about €367 million in exports.
Attending the event, EU Ambassador to Moldova Peter Michalko said the Free Trade Agreement is an important element of the Association Agreement with the EU not only in terms of export growth, but also in terms of investments and created jobs. During four years, many business entities benefitted from the advantages provided by the DCFTA, but there is yet place for the better. The continuation of reforms and consolidation of independence of the judiciary are important elements in this process.
Secretary general of state at the Ministry of Economy and Infrastructure Iulia Costin appreciated the continuous support provided by the EU. During four years, the Government did a series of reforms with a direct impact on business entities and an indirect impact on the citizens, such as the institution of the one-stop shop, reform of permissive documents, reform of inspections and others, to favor the implementation of the DCFTA. This agreement helps Moldova come closer to the living standards and democratic level in the EU.
In the event, representatives of Moldovan companies shared their experience in accessing EU support for meeting the requirements and fully taking the opportunities provided by the DCFTA. Andrei Mârza, the owner of a clothing factory based in Soroca, managed to create 70 new jobs and to increase the company’s sales three times owing to the support provided by the EU. Tudor Rotaru, who runs a line for making chocolate covered dried fruit in Ialoveni, said that due to the opportunities offered by the DCFTA and EU support and training programs, the company’s products are now exported to Slovenia, Romania, Ireland and other countries, while its sales grew from 20,000 lei in 2014 to 10 million lei in 2017.
The information campaign “Created in Moldova, Appreciated in the World” was launched as part of the event. The campaign will last until the end of December and will disseminate useful information about the opportunities provided by the AA/DCFTA to companies in Moldova and will stage training courses on how to benefit from these opportunities.
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