According to the Ministry of Economic Development and Digitalization, which initiated the negotiations, the implementation of these agreements will contribute to the development of priority economic sectors, the creation of new jobs, increase business competitiveness, provide access to modern technologies, and boost tourism in the Republic of Moldova.
The main goal is to attract more investment into the country by creating a stable legal environment that will stimulate entrepreneurial activity and investment from both foreign companies and domestic investors.
Agreements on the promotion and mutual protection of investments are considered an important tool for attracting foreign capital and protecting investors’ rights in today’s global economy.
To date, Moldova has concluded 43 such agreements, 20 of which are with European Union member states.
Also at today’s meeting, the Foreign Policy Committee approved negotiations and the signing of a cooperation protocol with Turkey, which will define the general conditions and timelines for implementing development projects.
The protocol will establish the necessary legal and institutional framework for implementing development projects and programs in the Republic of Moldova with support from Turkey through the Turkish Cooperation and Coordination Agency (TIKA).
Cooperation will focus on priority areas, including economic development, agriculture and the agro-industrial sector, infrastructure, energy, environmental protection, education, healthcare, and culture. In addition, the document provides for strengthening institutional capacity and supporting small and medium-sized enterprises.
The new protocol will replace a similar agreement signed in 2015, which expires in November 2026. The new document will be concluded for a term of five years, with the possibility of automatic renewal for subsequent periods.
