July 26, 2021, Chișinău - Ministry of Foreign Affairs and European Integration welcomes the 20th anniversary of the accession of the Republic of Moldova to the World Trade Organization. On July 26, 2001, after 7 years of negotiations, our country became a full member of the World Trade Organization. The event was a major achievement for the Republic of Moldova abroad, which came to reconfirm not only the sovereign character of the country, but also the ability to carry out reforms and assume international commitments.
Over the past 20 years, the impact of joining the World Trade Organization has been extremely important from an economic and a social perspective. From the beginning, the Republic of Moldova initiated an ambitious reform program aimed at transforming a planned economy into a fully functioning market economy and strengthening macroeconomic stability. This has been and in some cases is still a challenge for most countries in our region with similar types of developing economies - in transition.
WTO accession, along with the process of European integration, has been the catalyst for economic transformation and reform in the country. The Republic of Moldova has largely met the basic objectives set, creating an externally oriented, globally integrated economy. A high level of trade liberalization has been achieved, including through extensive commitments in trade in goods (with compulsory taxes between 0-15%) and services (with 147 liberalized sectors out of 155).
The conclusions of the WTO experts note that trade in goods has increased considerably due to lower taxes, minimum trade barriers and predictable regulations. The structure of trade has also improved due to export diversification policies for both partners and products. Trade in services, in particular through the IT sector, has grown significantly and is developing at a dynamic pace, even exceeding the growth indicator of trade in goods.
Accession to the international trade system within the WTO has also contributed to the country's social development. Adequate protection of local producers was ensured, the reduction of production costs was promoted, offering a wider range of goods and ultimately facilitating income generation and increasing the well-being of the population.
Thus, the Republic of Moldova has gained a rich experience within the organization, where it was not only a beneficiary but also an active participant in the processes and undertook actions to strengthen the commitment to the liberalization of international trade in accordance with World Trade Organization agreements.
A priority on the economic diplomacy agenda remains Moldova's support in the WTO for joint initiatives on e-commerce, facilitation of investment for development, the informal group on SMEs, internal regulation of trade in services, trade and environmental sustainability, and discussions. aimed at involving women in trade policies.
On the occasion of its 20th anniversary, the Republic of Moldova reaffirms its commitment to the World Trade Organization, continuing to remain a strong supporter of the multilateral trading system created under its auspices.
