MOLDOVA HAS POTENTIAL TO RAISE EXPORTS BY 20% – DEPUTY PREMIER

Moldova is able to raise the volume of exports by 20% within 5 years, maintains Deputy Premier, Minister of Economy and Infrastructure Octavian Calmic.

Speaking at the export forum within the Moldova Business Week 2017, he said that this goal may be achieved if Moldova continues to efficiently use the advantages of international trade agreements, first of all that with the EU – the Deep and Comprehensive Free Trade Agreement (DCFTA).

According to him, Moldova has made a successful path in developing trade links with the EU – the share of European market in Moldovan exports accounts for 65%.

“Trade connections are developing both in traditional branches and in the field of modern technologies and industry. Moldovan authorities keep reforming the tax and budget enterprises. A priority for state policy is to transform Moldova from a traditionally agrarian country into a strong industrial state”, Calmic said.

Deputy Minister of Economy and Infrastructure Vitalie Iurcu said that due to the country’s small domestic market, the development of Moldovan exports is equaled to the future economic growth.

“The republic is able to permanently extend the volumes of exports on the basis of provisions of the DCFTA, the Free Trade Agreement with the CIS countries and Turkey. Also, negotiations are already being held on creating a similar free trade zone with China and we hope that such agreement will be concluded already in 2018”, Iurcu said.

Ambassador Peter Michalko, Head of the European Union Delegation to Moldova said that Moldova proved it can export to the EU not only agricultural goods but also industrial produce.

“Thus, in 2016 the republic exported to Europe automobile spare parts worth around US$400 million, which was almost 20% of the republic’s total exported volumes. The EU will keep supporting Moldova in such areas as the raising the level of employees’ skills, creation of an attractive investment climate, development of small and medium business. The EU is Moldova’s most important partner and it wants to see Moldovan economy reliable and strong in future”, the EU representative said.