Open AccessMoldovan- EU Economic Cooperation: The Role and Potential of Agricultural Sector
Author(s) -
Vladislav Secrieru,
Galina A. Terskaya,
Nadezda N. Solovykh
Publication year - 2021
Publication title -
journal of world economy, transformations and transitions
Language(s) - English
Resource type - Journals
ISSN - 2792-3851
DOI - 10.52459/jowett1241021
Subject(s) - agriculture , european union , international trade , romanian , business , goods and services , market access , china , economics , international economics , economy , geography , linguistics , philosophy , archaeology
Agriculture is one of the most important aspects of every country's economy. The Republic of Moldova enjoys a competitive advantage in agricultural output due to its excellent soil and temperate temperature. The Association Agreement between Moldova and the European Union (EU), which was signed in 2014, greatly increased Moldovan producers' access to EU markets. The EU is Moldova's most significant economic partner, accounting for over 70% of the country's exports in 2019. In general, integrating Moldovan food producers into global value chains through supply chain connections with big retailers and exports helps them to scale up, improve productivity, and eventually contribute more to Moldova's economic growth. The developments in Moldova's agricultural and food trade following the establishment of the Deep and Comprehensive Free Trade Agreement (DCFTA) with the European Union are examined in this study. The study will look at Moldova's foreign trade activities from the standpoint of agriculture and food goods.