The economic forum Romania – The Republic of Moldova
Romania and the Republic of Moldova are making new moves to interconnect their capital markets, a new step towards Moldova’s EU accession
Sorin Iordan, 28.03.2024, 14:01
Romania and the Republic of Moldova want to connect their capital markets, the heads of the governments in Bucharest and Chisinau told a bilateral economic forum held in the Romanian capital city.
The move would allow the Moldovan companies to expand and the state to take another step towards its EU integration. Romanian Prime Minister Marcel Ciolacu said that in the relationship between Romania and Republic of Moldova the time of flower bridges is over and now it’s the time for investment and the projects with an economic impact. He encouraged the companies in the neighboring state to use the Bucharest Stock Exchange until that in Chisinau has enough liquidity.
Marcel Ciolacu: “The capital market is an essential pillar of the economic interconnection between the two countries. We have the energy zone, where this interconnection already functions at full throttle and which proved vital for the Republic of Moldova in the past year. All our efforts are destined to helping the Republic of Moldova to take big and steady steps to come closer to the European Union. We are helping it with top Romanian experts who are presently working in key positions in Chisinau. We are helping it with massive annual investments of hundreds of millions of Euros. We are helping it with a bilateral trade volume, which has tripled in the past decade.
In turn the head of the Moldovan government, Dorin Recean, has said the interconnection of the two capital markets is not easy to accomplish, but represents an opportunity for the companies in the Republic of Moldova to expand and go regional. He underlined that in spite of the war in neighboring Ukraine, the Cabinet in Chisinau has managed to stabilize the economy and the Republic of Moldova has a business-oriented fiscal-budgetary policy aimed at reducing bureaucracy, and digitizing the public services.
Dorin Recean: ”What we need to do in the following period of time, is to attract investors, to attract the business environment to come and invest in the opportunities the Republic of Moldova offers. They already are in the energy sector, in infrastructure, the industrialization of agriculture, the IT sector, the pharmacy sector, the sector of electronic appliances. Today, Romania is the most important trade partner of the Republic of Moldova and we are glad the trade volume is on the rise.”
The stock exchange is an extremely important pillar in supporting the economy and the local companies, the president of the Bucharest Stock Exchange, Radu Hanga said. He said the institution he leads is ready to offer expertise to its Moldovan counterpart, until the latter functions at optimum parameters and has the liquidity it needs.
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