On Tuesday, June 27th, the European Parliament’s Committee on International Trade voted in favor of a regulation that extends by one year the measure suspending import duties and quotas on products exported from the Republic of Moldova to the European Union. Romanian MEP Siegfried Mureșan announced this development.
“The final vote on this regulation will now take place in the plenary session of the Parliament, scheduled for early July. This ensures that this new decision is adopted in time before the current import duty suspension expires on July 24, 2023,” stated Mureșan.
The European official emphasized that the war in Ukraine has significantly impacted the economy of the Republic of Moldova. Moldovan products that were exported to the east, via transit through Ukraine, have lost their market outlets.
According to Mureșan, for this reason, in 2022, the EU decided to suspend import duties and lift quotas for the seven categories of products subject to tariff quotas: tomatoes, garlic, table grapes, apples, cherries, plums, and grape juice.
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“Today’s decision renews, for one year starting from July 24, the measure suspending duties for imports from the Republic of Moldova. Moreover, this decision extends this suspension to all remaining tariff quotas for Moldovan imports. It is a good measure that greatly benefits the Republic of Moldova without affecting the European Union market. Due to the large size of the EU market compared to Moldova’s export potential, the costs the European Union has to bear for implementing this decision are almost negligible,” Mureșan affirmed.
According to Mureșan, the next step in the trade and economic relations between the Republic of Moldova and the EU would be trade liberalization. The official highlighted that permanent liberalization will provide greater predictability in the Moldovan market, allowing it to attract more significant investors.
Mureșan noted that access to the European market has significantly aided the Republic of Moldova in the past year. Overall, Moldova’s exports to the EU increased from €1.8 billion in 2021 to €2.6 billion in 2022.