“The European Bank for Reconstruction and Development (EBRD) stands ready to support Moldovan companies and foreign investors in Moldova as the country moves towards even greater regional integration,” said András Simor, EBRD Vice President for Policy, during his visit to Chisinau.
Moldova, already trading freely with the Commonwealth of Independent States (CIS), is preparing to sign an Association Agreement with the European Union, which includes creating Deep and Comprehensive Free Trade Areas (AA/DCFTA). DCFTA offers improved trade with the EU and new investment opportunities as well as reforms and support for those reforms. It aims to contribute to economic growth and deeper integration with regional and global markets.
Addressing local and foreign investors at an EU-led conference held on the occasion of the visit of European Commission President José Manuel Barroso to Chisinau, EBRD Vice President Simor said: “With the DCFTA to be signed in two weeks, Moldova will become one of the few countries with access to two large and important markets: the EU and the CIS.”
“The Bank is currently working closely with the EU and the European Investment Bank to develop a programme to help small and medium-sized enterprises adjust to a new regulatory environment and seize the new trade opportunities to the fullest.”
“The EBRD will continue to invest in Moldova and to guide local companies as well as foreign investors who are willing to invest in the country or expand their operations in Moldova. Yet our role is much wider. We combine our investments with advice, expertise and support for reforms.”
He added: “We welcome the country’s commitment to taking the necessary steps to become a successful open-market economy based on the rule of law. Moldova can harvest the benefits of regional economic integration only if the government moves decisively to implement its ambitious reform agenda.”
The EBRD is the largest foreign investor in Moldova. To date, the Bank has invested about €900 million in over 100 successful projects in the energy, transport, agribusiness, general industry and banking sectors. The EBRD is also engaging with the government to promote reforms aimed at tackling key transition challenges across sectors, including improving the investment climate. The Bank has financed the establishment of an Economic Council to the Prime Minister, an advisory body that brings together businesses and policy makers seeking to improve the business environment.