07.Dec .2021 21:00

Moldova’s Parliament Ratifies Amendments to Free Trade Agreement with Ukraine

Moldova’s Parliament Ratifies Amendments to Free Trade Agreement with Ukraine
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The Parliament of Moldova ratified a protocol amending Moldova–Ukraine free trade agreement.

According to the Parliament’s press service, the proposed amendments will facilitate access of investors and businesses to the benefits of existing preferential agreements between Moldova, the European Union, and Ukraine, Ukrinform reports with reference to NewsMaker.

Pursuant to the amendments, Ukrainian producers will be able to import raw materials and components for processing into Moldova and then export the final products to the EU countries. At the same time, the goods will receive certificates of Moldovan origin and this will not require the payment of duties under the current preferential regime.

The protocol amending Moldova–Ukraine free trade agreement was signed by prime ministers Natalia Gavrilița and Denys Shmyhal in late August. The heads of government noted that the renewed agreement "will promote investment and encourage the business environment to take full advantage of the existing trade regime with the EU."

In addition, according to Shmyhal, Ukraine signed a similar agreement with Georgia, so now the entire Associated Trio will be able to create a common system for trade with the European Union.

As reported, on August 18, the Government of Ukraine approved a draft Protocol between the Cabinet of Ministers of Ukraine and the Government of the Republic of Moldova amending the Free Trade Agreement between the Cabinet of Ministers of Ukraine and the Government of the Republic of Moldova of November 13, 2003.