Yu Fangping / XinHua / Global Look Press
Bloomberg reports this.
It is noted that the “solidarity instrument” is intended to help companies diversify their supply chains for critical goods. The initiative is expected to be part of efforts to reduce Europe’s trade deficit with China, which exceeds 360 billion euros.
According to the agency, the exact amount of funding required for these purposes has not yet been determined. However, the article states that this will depend, among other things, on the retaliatory measures Beijing may take.
Moldova’s annual trade deficit with China exceeds $1 billion. Imports from China to Moldova amount to approximately $42 million per month. Meanwhile, in the first half of this year, exports averaged about $5.5 million per month.
