European Union market is key for the Moldovan economy
Access to the European Union market is of key importance to the economy of the Republic of Moldova. This is the experience of Moldovan entrepreneurs.
Today, the EU Delegation in the Republic of Moldova is launching a series of videos showing testimonials by Moldovan businessmen. They confirm the importance of free trade with the European Union for the companies and for creating jobs that would prevent preventing emigration of the workforce from the Republic of Moldova. The eight participating companies come both from the agricultural sector, producing wine, nuts, juices, fruit conserves and alcohol, and from the industrial sector, making electrical cables, apparel, shoes and smart electricity meters.
The entrepreneurs testify to the benefits of free trade with the EU on their sales and their staff numbers. The Orhei Vit company, which produces juices and conserved fruit and vegetables, noted that the free trade agreement with the EU has brought them an increase in their sales by up to 25%. The Zernoff company, which makes alcohol, reported that their exports to the European Union increased ten times. The Ionel sewing company from Chisinau confirmed that exports to the European Union allowed them to keep their staff and permitted the staff to remain working in the Republic of Moldova. The Etcetera wine company stressed that exports to the EU make up 25% of their sales.
Companies also highlighted that there is no need to be afraid of the EU market where high-quality products stand a fair chance. In fact, products from the Republic of Moldova are appreciated by the most prestigious brands in Europe: Electrical cables from the Republic of Moldova are used by the most prestigious European car brands, such as Audi, BMW, Mercedes-Benz, Maserati, Mini and Porsche. Apparel factories in the Republic of Moldova also sew clothes for European luxury brands including Giorgio Armani. Finally, the ADD Grup, which produces smart electrical metres, has experienced that there is no contradiction between operating on the EU market and on the Russian market.
The experience of Moldovan businessmen confirms the statistics about the Republic of Moldova's exports: In 2016, exports to the European Union made up 60% of the country's exports and their value grew by 7.7% in 2016. The country's main export products to the European Union are electrical cables, apparel and knitwear, car seats, sunflower seeds, wheat, iron bars, walnuts and shoes.
Further increases in exports to the European Union are possible once the reforms outlined in the Association Agreement are fully implemented.
Find out more about trade between the EU and the Republic of Moldova: https://eeas.europa.eu/delegations/moldova/1538/republic-moldova-and-eu_en#Trade
The videos with the portraits of businessmen will be published on the Facebook page of the European Union in the Republic of Moldova: https://www.facebook.com/European-Union-in-the-Republic-of-Moldova-255840324431929/