Moldova hosting final round of DCFTA negotiations
The 7th, ultimate round of negotiations on the Deep and Comprehensive Free Trade Agreement (DCFTA) between the Republic of Moldova and the European Union have begun in Chisinau on June 11 to last until June 12.
The Moldovan delegation is headed by Deputy Minister of Economy Octavian Calmic and the European delegation – by Luc Pierre Devigne, Head of the Commission’s Unit «Trade aspects of European neighborhood policy. Trade relations with countries of the CIS and Balkans».
The talk agenda includes finishing up of legal texts and tariff proposals in the field of vulnerable-most sectors of the Moldovan economy, in particular agriculture.
On June 11, Moldovan Deputy Premier, Minister of Economy Valeriu Lazar and Luc Pierre Devigne will meet to discuss negotiation results. A particular attention will be attached to the using of DCFTA trade preferences in the Transnistrian region.
Upon final polishing of legal texts, the parties will have to carry put a series of EU internal protocol procedures.
The Moldovan side expressed hope that the Deep and Comprehensive Free Trade Agreement will be initialed already this year and signed in 2014.
Moldova has been in the process of preparing its economy to the regime of free trade with the European Union since 2010. The regime provides for reforming 13 essential spheres such as the infrastructure of quality, customs administration, intellectual property, sanitary and phytosanitary measures, state purchases etc.
The DCFTA negotiations started in March 2012. The previous round was held in Brussels on last March 11-14 in Brussels. According to some researches, thank to the creation of the zone of free trade with the European Union, Moldova’s exports should grow 16% and the country’s GDP should go up 5.6%.
The Deep and Comprehensive Free Trade Agreement (DCFTA) provides for a gradual liberalization of trade in goods and services, a free movement of the labor force, reduction of tariffs, elimination of technical and non-tariff barriers, cancellation of quantitative restrictions and harmonization of the Moldovan legislation with European Union standards. Unlike the current one-sided regime of trade between Moldova and the European Union, given by the European Union for a restricted period, the DCFTA will be a multifaceted, time-unlimited and predictable agreement good for businesses and long-term investment. Upon the DCFTA coming into effect, the regime of autonomous trade preferences, in force currently, will be cancelled.
Adapted from Infotag