Moldova ranks second after Ukraine in terms of economic damage caused by the war. The country has lost access to Ukrainian seaports, faced a massive rise in prices due to the energy crisis, and "blackmail from the traditional supplier."
Investors are avoiding the region due to instability and uncertainty, a situation that has persisted for years. There may be a significant global trade crisis that will also impact Moldova.
This was stated on Thursday, April 17, by the President of Moldova Maia Sandu during her speech in the country's parliament, as reported by TV8.md.
"Besides regional economic problems, we are seeing international trade systems facing uncertainty. A potential decline in global trade and economic instability also pose real risks to us. These changes will affect our key trading partners and the countries where the Moldovan diaspora resides, impacting Moldova's economy. Our advantage in the current situation is our open access to the European Union market. It is crucial for businesspeople, farmers, and exporters to maintain this market, the largest in the world, offering enormous opportunities for Moldovan companies. Moldova's export to the European Union accounts for 67% of total exports. Unlike other small countries, we have the guarantee that, despite all trade wars, we will be able to take advantage of free access to the EU market," said President Maia Sandu.
"To preserve peace and freedom, it will be easier if we become part of the European Union."
Eurointegration is not a distant future, but a goal for the near term, within the next four years. The EU is a guarantee of peace, freedom, and economic development.
"I know it may sometimes seem like the hardships will never end. But imagine that we are laying the foundation of a house. We haven’t reached the comfort we desire yet, but we are building a solid foundation. It will take time for our house to look the way we want it to. We will succeed only if we remain on the European path. If we abandon this path, we will destroy the chance for our hard-earned prosperity. There is no doubt that peace and freedom will be easier to preserve if we become part of the European Union. There, we will be protected like in a big, loving family. So, we must continue to work day and night to join the EU as soon as possible. Not in 10-20 years, but within the next four years," the head of state emphasized.
She reminded that in recent years, Moldova has gained EU candidate status and started negotiations that are progressing well. Moldova also hosted the summit of the European Political Community, with leaders from 45 countries visiting the country for the first time. Strategic partnership with Romania has strengthened, and Bucharest has become Moldova's No. 1 trade partner and a "decisive advocate for Moldova in the EU."
Currently, there is a Development Plan for Moldova, which includes support worth 1.9 billion euros from the EU, and this is just the beginning.
"This funding will be used for projects in transportation, energy, services, industry, and agriculture. These projects will create opportunities for companies and jobs for workers. We are a small country, and if we have the necessary investments, we can grow quickly," Sandu concluded.
