Agreement will ensure £395m trade relationship can continue and grow in the future.
A new trade agreement today strengthens the trading relationship between the UK and Moldova, worth £395m in 2019, by securing continued preferential access and paving the way for increased trade in future. The trading relationship grew by 77% between 2015 and 2019.
The preferential terms secured by this Agreement will enable British businesses to trade as they do today after the UK’s Transition Period with the European Union and provide certainty to consumers in both countries. Top UK imports from Moldova in 2019 include items like clothes, beverages and fruit and vegetables.
The Agreement also sets out the UK and Moldova’s ambitions for our future relationship including the strengthening of our political, economic, security and cultural ties. As part of the Agreement, the UK recognises and supports Moldova’s commitment to an ambitious programme of reforms and its political, economic and legal accomplishments.
FCDO Minister for the European Neighbourhood and the Americas Wendy Morton said:
DIT Minister Ranil Jayawardena said:
Her Majesty’s Ambassador to Moldova Steven Fisher signed the agreement today (24 December) with Moldovan Foreign Minister Aureliu Ciocoi in Chisinau.
Her Majesty’s Ambassador Steven Fisher said:
The Agreement will promote innovative partnerships between the UK and Moldova, following the example of British company Terravesta and Aberystwyth University who are working with a Moldovan partner to develop a biomass solution for heating homes in Chisinau.
UK companies already established in Moldova include Jaguar Land Rover and GlaxoSmithKline. The British Embassy has supported a number of projects to promote development of the Moldovan private sector, one of which has led to British company Barbour manufacturing luxury products in Moldova. The Agreement is signed at a time when both governments are expanding their trade presence in each other’s countries.