Moldova’s Remarkable Economic Transformation: A Shift from Russia to the EU

In just 15 years, we have completely reoriented our economy. Fifteen years ago, we had 70% of our trade with Russia and the CIS. Now, 70% of our trade is with the EU and the West,” says Dumitru Alaiba, Minister of Economic Development and Digitalization.

According to the Minister of Economy, no other country has undergone such a radical transformation in such a short period.

“My favorite story about our country that I share in many meetings. In just 15 years, we have completely reoriented our economy. Fifteen years ago, we had 70% of our trade with Russia and the CIS. Now, 70% of our trade is with the EU and the West. A tectonic shift in the economy.

There is no other country in the world that has changed so dramatically in such a short time. We searched. We didn’t find such a profound transformation in such a short time. We know how to adapt, learn, reinvent ourselves, and grow. We can change for the better,” the Minister of Economy wrote on his Facebook page.

According to statistical data, in the first 6 months of the current year, exports of goods to European Union countries accounted for 61.3% of total exports, while exports to the CIS countries stood at 25.6%.

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