Moldovan agricultural products received benefits for access to the market of EFTA countries

Regulation & Compliances
Published Apr 16, 2024

Tridge summary

Moldovan producers have been granted the opportunity to export goods to Iceland, Liechtenstein, Norway, and Switzerland without incurring customs duties, thanks to the ratification of a free trade agreement with the European Free Trade Association (EFTA) member states. This pivotal agreement aims to bolster economic cooperation and broaden trade horizons by eliminating customs duties on industrial products and offering benefits for agricultural goods. Additionally, it encompasses provisions for trade in services, e-commerce, government procurement, and more, fostering an environment conducive to investment by EFTA companies in Moldova, which could lead to job creation. As of 2023, Moldova's trade with EFTA countries included exports worth $33.34 million and imports valued at $64.1 million.
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Original content

Moldovan producers will be able to export goods without paying customs duties to four member countries of the European Free Trade Association (EFTA): Iceland, Liechtenstein, Norway and Switzerland. The free trade agreement between the Republic of Moldova and the EFTA member states was ratified by the Moldovan parliament and published in the official press, MOLDPRES reports. The document is aimed at strengthening economic cooperation between states and expanding trade. Exporters of Moldovan products will benefit from improved trade and economic conditions in the market of member countries of the European Free Trade Association (EFTA). At the same time, companies from EFTA countries will be encouraged to invest in the Republic of Moldova. There will be an opportunity to create new jobs in our country. Read also: Moldova will be able to supply its fruits and vegetables to the UK without customs duties According to the document, customs duties on imports of industrial products will ...
Source: Eastfruit
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