OREANDA-NEWS. March 02, 2012. Prime Minister Vlad Filat met visiting European Commissioner for Trade Karel De Gucht. The meeting was followed by a joint news conference, the government's communication and press relations department has said.

The two officials discussed the Moldovan-European dialogue, in particular its economic and trade aspects.

Filat expressed gratitude for the support given by the EU to the launch of talks on the creation of a Deep and Comprehensive Free Trade Area between Moldova and the European Union (DCFTA), as well as for the political and financial support provided to Moldova. The prime minister reiterated the Moldovan government's willingness to further promote the needed reforms for the swift creation of the Deep and Comprehensive Free Trade Area between Moldova and the European Union.

It is noteworthy that the talks on the creation of a Deep and Comprehensive Free Trade Area between Moldova and the European Union fit into the Association Agreement negotiation process and play a significant role for Moldova's EU integration process.

At the joint news conference, the prime minister said that the launch of talks on the creation of the DCFTA is an important achievement, noting that the implementation of this goal will bring about not only new opportunities for Moldovan companies, but will also serve as an additional motivation for foreign investors.

The prime minister also spoke about the progress recorded in Moldova's trade with the EU member-states, noting that Moldova's exports to the EU stand at 49 per cent, whereas the imports of goods from the EU to Moldova account for 43.5 per cent.

Filat stressed that the EU's consent for the launch of talks on the creation of the DCFTA is an important decision and a good start, which will be followed by comprehensive negotiations with European representatives and by an ambitious domestic reform agenda, in line with the recommendations of the European Commission.

At the same time, the creation of a Deep and Comprehensive Free Trade Area between Moldova and the European Union will serve as an additional opportunity for the Transnistrian companies, which are already benefitting from the European Autonomous Trade Preferences.

"The dialogue that we have held so far with the EU experts, on the DCFTA was constructive and dynamic. On 18 January, we agreed upon the agenda for 2012, as well as on the main principles and ways for the organization of the talks. On 19-23 March, the first round of comprehensive talks on the creation of a Deep and Comprehensive Free Trade Area between Moldova and the European Union will be held in Chisinau," Vlad Filat said.

The prime minister also mentioned that the Moldovan government is prepared for these talks and ready to do its utmost for the swift signing of the Deep and Comprehensive Free Trade Area Agreement.

For his part, European Commissioner for Trade Karel De Gucht praised the actions undertaken by the Moldovan government and expressed hope that this development pace will be further maintained.

"Today, we witnessed a landmark in the Moldovan-European trade relations. This achievement required great efforts on behalf of the involved partners," Karel De Gucht said, congratulating the Moldovan government for this success.

The official said that the creation of a Deep and Comprehensive Free Trade Area between Moldova and the European Union is a great opportunity for the reformation of the Moldovan economic system and for its adjustment to the EU standards. Moreover, the EU official highlighted the importance of this process for the enhancement of Moldova's attractiveness for foreign investors.

"Some surveys show that the trade exchanges between the European Union and Moldova have significantly increased, reaching a record-high turnover of 2.7 billion euros. At the same time, there is a great unused potential in this respect, because Moldovan producers do not meet the European standards. Thus, after the confirmation of the requirements for the signing of DCFTA, Moldovan producers will become more competitive. The European Union will further back Moldova, including via special financing tools. The EU's overall assistance for Moldova stands at 273 million euros in 2011-2013. Moreover, a new assistance framework is prepared for 2012-2020," European Commissioner for Trade Karel De Gucht said.

The agreement on the creation of a Deep and Comprehensive Free Trade Area between Moldova and the European Union is to be signed within the Eastern Partnership Summit due in autumn 2013.