Brussels, 22/10/2015 (Agence Europe) - On Thursday 22 October, European Commissioner for Trade Cecilia Malmström started a two-day visit to Moldova to mark the first anniversary of its free trade area with the EU - which entered into force in September 2014. Her objective is to ensure, with the Moldovan authorities, the good implementation of the free trade agreement, via acceleration of the country's reform process. The free trade agreement has already enabled a rise in Moldovan exports to the EU.
In Chisinau - a place she has previously visited when commissioner for home affairs - Malmström was due to meet Moldova's President Nicolae Timofti, Prime Minister Valeriu Strelet, Foreign Minister Natalia Gherman and Economy Minister Stephane Bride. She was also due to participate in an event with civil society and the business community on the subject of “Making the most of the deep and comprehensive free trade area”.
Despite the considerable economic difficulties Moldova is facing, the stable trading framework provided by the free trade agreement has enabled a fall in bilateral trade to be avoided since autumn 2014, the Commission states. The EU currently buys nearly two thirds of the goods that Moldova sells to the rest of the world, and Moldovan exports to the EU are now on the rise.
“The way to get even more out of our relationship is by making sure that the free trade area is fully put in place. Moldova has already made good progress, but the reform process needs to switch to a higher gear. The EU will continue supporting Moldova on this path”, Malmström said the day before her visit.
Stating in a message published on her blog on Thursday that she was the craftsperson behind the visa freedom granted to Moldova by the EU in April 2014, Malmström underlined the importance of the free trade area for Moldova's growth and economic development. It is “a vitamin injection to the Moldovan economy. The agreement is also promoting foreign investment in the country that can further spur growth”, she blogged. “But all is not rosy. Recently, a major banking scandal was revealed, and Moldova faces trade restrictions with other major partners (Ed: Russia), which has made a dent in growth and slowed down the pace of reform (…) the EU is continuously providing assistance to help with the reform process (…) There is, however, significant work to be done - the reform agenda needs to be brought back up to speed and the fight against corruption must continue”, she concluded. (Original version in French by Emmanuel Hagry)