The European Union has fully exempted imports of agricultural products from Moldova from duties and quotas, extending and expanding the current temporary preferential treatment.
“The extension and expansion of the (preferential) measures aims to further expand the existing trade flows from Moldova to the EU, and this will support the Moldovan economy,” said Hector Gomez Hernandez – Minister of Industry, Trade and Tourism of Spain, which holds the presidency of the Council of the EU until the end of the year.
He emphasized that Thursday’s EU Council decision is particularly important given the ongoing military actions in Ukraine, as well as the fact that Moldova was granted EU candidate status a year ago.
Trade between the EU and Moldova is mostly liberalized under the 2014 Association Agreement. Duties were imposed on imports of only seven products to the EU: plums, table grapes, apples, tomatoes, garlic, cherries and grape juice. Introduced a year ago and valid until July 24, the preferential regime provides duty-free quotas for these products. The current decision suspends all remaining tariff rate quotas (TRQs) for one year.
The preferential treatment of imports from Moldova of the said products will entail a loss of EU customs revenues, but it will amount to about 0.3 million euros per year, so its impact on the Union budget will be “very limited,” the press release said.
The measures are expected to help Moldova further reorient its exports to the EU. Overall, its volume is set to increase from €1.8 billion in 2021 to €2.6 billion in 2022.
AGRICULTURAL PRODUCTS, EU, MOLDOVA
