EU launches new project to enhance economic integration between Western Balkans and Moldova

Photo: European Union
Photo: European Union

On 28 July, the EU and the German Federal Ministry for Economic Cooperation and Development launched the project ‘Support to regional economic integration’ in the Western Balkans and the Republic of Moldova.

With a total budget of over €5.3 million, the project aims to boost trade relations and further deepen economic integration between the Central European Free Trade Agreement (CEFTA) parties, of which Moldova is a co-signatory.

The three-year project, implemented by the German Corporation for International Cooperation GmbH, will help to further develop trade facilitation and trade in services under the CEFTA, so they become operational for companies in the region.

In particular, through the improvement of trade procedures and regulations, the project aims to enhance the efficiency of supply chains in the region and reduce costs for businesses, which is especially needed during the COVID-19 crisis.

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Press release