The Vice Chairman of the Standing Committee of the National People’s Congress of China Xiangbapingcuo, who is in Chisinau on a visit, said that his country intends to make investments of about €120 billion in Europe and Moldova is one of the countries where investment projects will be implemented with this money. In a meeting with Head of Parliament Andrian Candu, the Chinese official assured the authorities of assistance in increasing the export of Moldovan products to China, IPN reports.

Xiangbapingcuo welcomed the progress made by Moldova on the path of development, noting that the bilateral relations between the two states should be strengthened. “The Chinese people and the Moldovan people have been friends for a long period, of almost 24 years. The cooperation between our states develops steadily in different areas. The volume of trade also increases,” he stated.

Andrian Candu pleaded for signing agreements on free trade, investments protection and avoidance of double taxation between Moldova and China as this will significantly contribute to developing the bilateral commercial relations. He underlined the important role played by the Chinese investments in Moldova and pleaded for increasing them, including in such areas as transport infrastructure and renewable energy.

Also today, the delegates of the National People’s Congress of China had a meeting with President Nicolae Timofti. The sides welcomed the good relations of friendship and cooperation between the two countries and considered the possibility of augmenting bilateral trade. Xiangbapingcuo submitted a number of proposals for intensifying the bilateral relations, such as negotiations on the creation of the free trade area, the Moldovan-Chinese cooperation within the Silk Road network of trade routes and facilitation of the contacts between the peoples of the two countries.

Nicolae Timofti said that Moldova is looking for new markets and China is a priority in this regard.

In 2014 Moldova’s exports to China totaled US$8 million, with the wine exports representing over 50% of these.