New regulations mean that Moldova can at least double its exports of agricultural products – for a period of one year – to the European Union without any tariffs being applied. Agriculture remains the main pillar of the Moldovan economy. According to the US government’s International Trade Administration (ITA), farmland covers 75 per cent of the country’s territory, and the agricultural sector employs over 27 per cent of country’s labor force. Agricultural production usually accounts for around 12 per cent of Moldova’s GDP.
Combined with the food processing industry, the sector represents more than 16 per cent of GDP and approximately 45 per cent of total exports.
News that the European Council on July 18 adopted regulations temporarily liberalizing trade in the seven Moldovan agricultural products that are not already fully liberalized (tomatoes, garlic, table grapes, apples, cherries, plums and grape juice) will therefore provide a huge boost to a country of which the economy has been severely affected by Russia’s invasion of neighbouring Ukraine.
The new regulations mean that Moldova can at least double its exports of these products – for a period of one year – to the European Union without any tariffs.
Source: emerging-europe.com