DCFTA negotiations between Moldova and the European Union will be launched on 19 March. “Joint market with the EU is a chance for Moldovan entrepreneurs”, said Karel de Gucht, the European Commissioner for Trade.
Deep and Comprehensive Free Trade Agreement (DCFTA) will be a part of the Moldova-EU Association Agreement, which is the most crucial document determining relations of Chisinau and Brussels. DCFTA will cover all Moldova-EU economic issues. The agreement aims at simplification of trade exchange (of goods and services) between Chisinau and the Union, mainly through abolition of customs barriers. Ultimately, the agreement is to integrate Moldovan economy with that of the EU’s. The Commissioner for Trade Karel de Gucht said this week in Chisinau, that in his opinion, the “negotiations may be concluded in autumn 2013”.
Currently, Moldova and the EU economic relations are defined by the trade preferences agreement signed in 2008. According to the agreement, Moldovan goods are exported to the Union’s market without customs duties, with exclusion of strictly defined produce, including wine. However, every year Brussels sets import quotas that are not subject to customs duties. This year, the EU once again has increased the quotas of produce, without taking into consideration the fact that last year Moldova did not exceed the limits. Bilateral trade in goods amounted to EUR 2.7 billion in 2011, which is EUR 0.5 billion more than in 2010. The EU is the most important economic partner of Moldova with a 50 percent share of its external trade.
Translated by Marta Lityńska