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Wednesday, November 22, 2017

EU-Moldova trade pact seen as validation for nation

Petras Auštrevi?ius after the vote on Moldova Association Agreement

The European Parliament approved an association deal between the European Union (EU) and Moldova Thursday, including the Deep and Comprehensive Free Trade Agreement (DCFTA).

The deal gives both parties mutual access to the free market and is expected to be a foundation for relations between the EU and Moldova. The vote to approve the measure passed with an overwhelming majority of 535 to 94, with 44 absentees.

The ratification of the EU-Moldova Association Agreement is a clear acknowledgment of the success of Moldova’s political and economic reform process, which establishes its European prospects and bears witness to its determination eventually to join the EU,"  Petras Austrevicius, a member of the EU Parliament, said. “It is time to congratulate Moldova’s people on this historic achievement, especially in the context of the upcoming parliamentary elections on Nov. 30, which will be crucial for the country."

It is the hope of both parties that this agreement will aid Moldova as geopolitical tensions grow over unrest in Ukraine. Russian embargoes on Moldovan products have hurt its economy. Moldova's parliament has called on the Russian Federation to respect Moldovan territory and its choice to be independent of the union.

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