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The EU Association Agreement Brings Financial Support for the Development of Moldovan SMEs

Thursday, 26 March 20157087 views
The EU Association Agreement Brings Financial Support for the Development of Moldovan SMEs

Automatically translated summary. The full article is available in Romanian.

Budgetstories.md has launched a new infographic, “Why do Moldovan entrepreneurs need free trade with the EU?”, explaining how the EU Association Agreement benefits Moldovan entrepreneurs and SME owners. It outlines the financial and non-financial support instruments the Agreement offers to small and medium-sized businesses.

SMEs account for 97.4% of all companies in Moldova and employ 56.9% of workers in the real sector. Yet only 11.6% of Moldovan companies export, compared with 25.1% in Romania and almost 50% in Estonia. Export customs procedures take over 21 days on average, against one day in Romania and two in Estonia.

The Agreement offers the EU COSME programme, worth over EUR 800 million, and the DCFTA facility for Moldova, Georgia and Ukraine, with EUR 1.5 billion in loans and a EUR 150 million EU grant programme. Non-financial benefits include aligning customs procedures with European standards, cutting export clearance to 3-4 days without fees, and temporary stays in the EU for employees of Moldovan companies. The infographic was funded by a US Department of State grant.

View the original article in Romanian