EU removes all duties and quotas for agricultural imports from Moldova

BRUSSELS. July 20 (Interfax) - The European Union has completely exempted imports of agricultural products from Moldova from duties and quotas, extending the current preferential regime for a year through July 24, 2024, and expanding it.

The Council of the EU adopted the relevant resolution on Thursday, the website of the Council said.

Hector Gomez Hernandez, Spain's Minister of Industry, Trade and Tourism (the country chairs the EU Council through the end of the year), said that the extension and expansion of measures is aimed at further guaranteeing the existing trade flows from Moldova to the EU, which will support the Moldovan economy.

Duties were imposed on EU imports from Moldova for only seven products: plums, table grapes, apples, tomatoes, garlic, cherries and grape juice. The current decision suspends all remaining tariff quotas for a year.

As in the past year, the EU is expected to lose only about 300,000 euros in customs revenue per year, so the impact on the EU's own resources will be very limited.

The current trade liberalization measures, valid through July 24, 2023, helped Moldova to redirect exports through the EU. Exports from Moldova to the EU increased from 1.8 billion euros in 2021 to 2.6 billion euros in 2022.