Economic cooperation between Republic of Moldova and EU

The economic prosperity of the EU is the main attraction for states wishing to join the EU. At the same time, the prospect of accession gives impetus and provides a model for the implementation of internal reforms, as clearly illustrated by the experience gained by the Central and Eastern European countries on the road to EU membership.EU financial support, access to the single European market, strong accession of candidate countries to EU standards in terms of quality of governance and rule of law - all these are the basic postulates that have conditioned the aspirations of many countries to become part of the family Europe.At the same time, joining the EU does not automatically lead to prosperity and economic growth. It will take time for countries in Central and Eastern Europe to reach a standard of living, as in the rest of the EU. The main point of the Copenhagen economic criterion is the presence in the candidate countries of a functioning market economy and the ability to resist market competition in the EU.Like many other countries in Southeastern Europe, the Government of Moldova considers that the proximity to the European Union is the interest of our country. Moldovas relations with the EU began with the signing of the November 28, 1994 Agreement on the Partnership and Cooperation Agreement, which entered into force on 1 July 1998, for an initial period of 10 years, with the possibility of prolongation, which has been done.This document established the legal basis of relations between Moldova and the EU in political, commercial, economic, legal, cultural and scientific spheres. Its implementation aims at strengthening democracy and the rule of law, promoting political dialogue, sustainable economic development and completing the transition to a market economy by encouraging trade, investment and harmonious economic relations.The socio-economic development of the Republic of Moldova and the approach of the standard of living with that of the EU countries is one of the main objectives of the action plan. In order to achieve this objective, the document stipulates, on the one hand, the continuation of the structural reforms in the Republic of Moldova, foreseen in the PCA, to ensure sustainable economic growth, social integration and poverty reduction.On the other hand, the PD envisages a gradual entry into the European single market and a series of new perspectives for the development of bilateral trade, investment and economic expansion with the EU - measures that will eventually contribute to the economic recovery of the Republic of Moldova. The EU-Moldova Action Plan attaches great importance to ensuring sustainable and inclusive economic growth as a key condition for reducing poverty and improving living standards.The process of European integration of the Republic of Moldova is an opportunity for the EU to promote European initiatives developed within the EU within regional structures (SEECP, Eastern Partnership, etc.), which allows the EU to monitor the development of the economy and democracy in the region and integrate these states in the European space, taking into account the rules and codes of rules established within these organizations. The integration of the RM will enable the EU to expand the area of ​​peace in Europe, as well as to develop the economic policy of internal and external markets.It is important to note that the EU is the main consumer of the goods of most of the countries that surround it, and the Republic of Moldova, from this point of view, represents for the EU some benefits due to the inexpensive products produced in its territory. In addition, the Republic of Moldova has a wealth of human work potential, which is of particular interest to the EU in terms of access to cheaper labor. This confirms the EU interest in us and the development of trade and economic relations with our state.
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