On December 28th, a Memorandum of Understanding on launching bilateral negotiations on the Free Trade Agreement between the Republic of Moldova and the People’s Republic of China was signed.
Moldova was represented by the Economy and Infrastructure Ministry Secretary, Iuliana Drăgălin, while China was represented by the Vice-Minister of Trade, Fu Ziying.
Both the officials mentioned that the start of the negotiations is essential in concluding the Free Trade Agreement which would intensify the trade and economic relations between the Moldovan and Chinese markets. The signing of the FTA is expected to take place until the end of 2018.
According to the Economy Ministry, 84 Chinese-owned companies with a value of about 5 million lei are active in Moldova. China is the 6th biggest trade partner of Moldova with 7,2% share. In the first 10 months of 2017, Moldova exported goods worth 14,789 million USD to China and imported goods worth 404,590 million USD from China.
Cui Hongjian, director of European Studies at the China Institute of International Studies in Beijing, quoted by South China Morning Post, believes the FTA with PRC should not be of concern to Moldova:
“On one hand, Moldova wants to increase its links to the EU, but on the other, it doesn’t want to irritate Russia,” he said. “China, however, is not in direct competition with either Russia or the EU in this region.”
China already has a free trade agreement with Georgia that enters into force in January 2018.
Published by “Moldova Org”