Wed, Feb 21st 2024
Swiss free trade with Moldova gains momentum as the Federal Council greenlights the EFTA agreement, setting a new precedent in e-commerce and sustainable trade.
It is being claimed by the Federal Council in a press release that Swiss Free Trade with Moldova is on the cards; on February 21, the Swiss Federal Council endorsed the free trade agreement between EFTA nations and Moldova. Signaling the proposal’s progression to the Parliamentary stage for ratification.
An entire chapter of the Swiss free trade agreement with Moldova is on e-commerce—a hint at what may come in future EFTA deals.
The agreement is modern and fresh, providing complete coverage of traditional agricultural and manufacturing industries and processed and raw goods.
The pact encompasses technical trade impediments, health and safety norms, criteria for determining the origin of goods, measures to boost trade, and the exchange of services and investments. It also covers intellectual property rights, competition policies, public procurement procedures, and dispute resolution mechanisms. Moldova stands out as the inaugural EFTA partner to incorporate an extensive chapter on e-commerce and introduce a pioneering chapter dedicated to sustainable trade and development.
The trade ties between Switzerland and Moldova, worth around CHF 50 million in 2022, are set to strengthen and expand through this agreement.
This agreement was signed in Schaan. It brings together the EFTA states—Switzerland, Iceland, Liechtenstein, and Norway—and now, Moldova in an initiative to enhance economic collaboration and growth.
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