Bilateral trade between the EU and Moldova has shown an increasing trend in recent years despite of a downturn in 2009 because of the global economic crisis.
In 2009 the total turnover of trade with Moldova reached €1.6 billion after €2.5 billion in the previous year. The downturn of bilateral trade in 2009 relates to the global economic crisis in 2009, overall however EU-Moldova has increased over the last five years not the least thanks to the autonomous trade preferences granted by the EU in 2008. The EU is Moldova's most important trading partner with a 52.3% share of its external trade, followed by CIS countries (37.8% share).
Trade in goods
- EU good exports to Moldova 2009: €1.1billion
- EU goods imports from Moldova 2009: €523 million
Autonomous Trade Preferences for Moldova
In January 2008 the Council adopted Regulation (EC) No 55/2008 on ATPs for Moldova (as amended by Reg. (EC) 1210/2008) by giving unlimited and duty free access to the EU market for all products originating in Moldova, except for certain agricultural products. The quotas for agricultural products are increased every year until 2012. Moldovan agricultural producers of wine, sugar, cereals and others make extensive use of these quotas. Apart from agricultural goods increasingly important export products for Moldova are textiles, clothing, footwear and steel products. Overall, the ATPs allowed Moldova to save about € 75 million EU import duties in 2009.
Moldova has been a Member of the WTO since 26 July 2001. Moldova is also a member of the Commonwealth of Independent States (CIS) since 1994. The CIS does not have supranational powers, but promotes cooperation in various fields. Moldova is also a party to the amended and enlarged Central European Free Trade Agreement (CEFTA), which entered into force on 26 July 2007. Moldova held the CEFTA presidency in 2008. Moldova is alos a member of South-East European Cooperation Process, and had its chairmanship in the first half of 2009.
Future deeper trade relations
Article 4 of the PCA states that the parties shall examine jointly whether circumstances allow the start of negotiations on the establishment of an FTA. In light of the progress Moldova has made in the field of structural reforms and economic development the Commission has concluded an FTA feasibility study to get an updated view on the possibilities for developing future deeper trade relations through an FTA. In line with the EU's Eastern Partnership Strategy the objective is to start negotiations on a deep and comprehensive FTA as a core element of an Association Agreement if and when Moldova is deemed to be ready to take on and implement the commitments of an FTA and to sustain the effects of far-reaching market access liberalisation and regulatory approximation. Further preparations to this end are ongoing in 2010.