The Republic of Moldova and the Russian Federation have potential to develop the bilateral commercial, economic and business relations. In the near future, the two countries will sign advantageous contracts and will launch new projects, including to support farmers or to favor export. The subjects were discussed in the Moldovan-Russian Economic Cooperation Forum that was held through teleconferencing on October 1, IPN reports.
Prime Minister Ion Chicu said Russia is a very important partner of Moldova. Owing to the exports to Russia, through special projects to extend infrastructure and innovations, Moldova improves the business climate, while the free economic zones and industrial parks became very attractive for the two states and enable to develop the economy. “With common effort, taking into account the cooperation potential in agriculture, tourism industry, both of the states have very good prospects for developing cooperation and for restoring the economic and commercial relations,” stated the official.
Investment Agency director general Rodica Verbeniuc spoke about an investment project to produce thermal insulation materials for buildings launched with Russia. The value of the announced investments comes to €20 million. Russia ranks third among the top ten strategic partners of Moldova by exports.
Minister of Agriculture of Russia Dmitry Patrushev noted that the Republic of Moldova and the Russian Federation in time developed close relations in such areas as economic development, science, culture, agriculture, tourism. In the future, Russia aims to adjust the bilateral relations, offering the businesses the possibility of signing new cooperation and partnership contracts. The energy products represented 60% of Russia’s exports to Moldova the past year, while 70% of Moldova’s exports to Russia were agricultural products.
On October 2, the Moldovan-Russian Intergovernmental Commission for Commercial-Economic Cooperation will come together for a meeting to assess the results of the forum and to analyze the next steps that should be taken for developing bilateral economic cooperation.
In Moldova there are 971 companies with Russian capital, with a total investment volume of 1.063,2 billion lei. By the volume of capital invested in Moldova, Russia takes the sixth position among the main investors. Trade between Moldova and Russia in 2019 was US$ 641.672 million, up 0.26% on 2018. Exports came to US$ 249.876 million.
