Moldova started negotiations on the formulation and signing of the Free Trade Agreement with the People’s Republic of China. It is estimated that Moldova’s exports to China will rise by 39.85%, while its GDP by 0.42% following the signing of the agreement, IPN reports, with reference to the Ministry of Economy and Infrastructure.

According to Secretary of State at the Ministry Iuliana Dragalin, the signing of the Free Trade Agreement with China will contribute to strengthening the commercial-economic relations between the two states, will facilitate the Moldovan products’ access to the Chinese market and will attract investments to the main areas of activity of Moldova.

The Chinese side said the Free Trade Agreement is designed to strengthen the economic partnership and to liberalize trade and bilateral investments that will bring economic and social benefits to both of the states.

In the first round of the talks on March 5-6, there will be discussed the legal aspects of the future agreement and the implementation areas, such as trade in good, elimination of customs duties and technical barriers to trade, customs administration, competition, medical services, sanitary and phytosanitary measures, etc.

According to official statistics, 84 companies with Chinese capital to the value of about 5 million lei operate in Moldova at present. The signing of the Free Trade Agreement with China forms part of the objectives defined in Moldova’s investment attraction and export promotion strategy.