The Free Trade Agreement with Iceland came into effect on September 1. Norway will be the next country where the Agreement takes effect, starting November 1. Switzerland and Liechtenstein, which are in a customs union, will follow at the beginning of 2025, according to the Ministry of Economic Development and Digitalization (MDED).
The Free Trade Agreement with the EFTA (European Free Trade Association) countries—comprising Iceland, Liechtenstein, Norway, and Switzerland—was signed in the summer of 2023 and marks a historic milestone for Moldova.
“It opens up new economic opportunities for our country, including the customs duties on imports of industrial and agricultural products into EFTA markets elimination,” stated the MDED.
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Iceland has granted free access to Moldovan products such as natural honey, wines, cereals, and sunflower oil. The Agreement offers expanded opportunities for Moldovan exporters, particularly in the wine, textile, and agricultural sectors.
This document is crucial for diversifying Moldovan exports and increasing the country’s presence in international markets.
“The EFTA Agreement sends a clear signal that Moldova is broadening its economic horizons and becoming increasingly integrated into global markets,” the Ministry of Economic Development and Digitalization added.