In 2009, a significant part – 75% – of Moldova’s trade was with Russia and the Commonwealth of Independent States (CIS). However, today, the landscape has undergone a notable transformation. Approximately 70% of our trade relations now extend to countries within the European Union, EFTA, the United Kingdom, and North America. Trade with Russia currently represents 3% of our total trade volume. Deputy Prime Minister and Minister of Economic Development and Digitalization Dumitru Alaiba shared these insights in an exclusive interview with MOLDPRES.
“The Republic of Moldova has demonstrated its potential for positive transformation through consistent daily actions and endeavors. A tangible testament to this progress is the significant shift in our foreign trade direction over the past 15 years,” Alaiba remarked.
He attributed this improvement primarily to Moldova’s investors, who have recognized the benefits of operating within a market characterized by transparent regulations and equitable competition, such as that found within the European Union.
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“Given the scale and predictability of EU regulations, our business community has diligently fostered trade relationships with importers and producers in this expansive and promising market. Entrepreneurs seek revenue, opportunities, and stability, all of which are abundantly available within the EU market,” the official emphasized.
Alaiba said that since the Association Agreement/DCFTA signing between Moldova and the EU nine years ago, exports to the EU have significantly increased and account for about 65 percent of Moldova’s total exports.
“The European Union has emerged as the most crucial economic partner for the Republic of Moldova. It is underscored by the sustained growth in bilateral trade since 2017, with Moldovan exports to the EU witnessing notable expansion compared to previous periods. Additionally, imports from the EU experienced an upswing in 2023,” Alaiba concluded.