These data were presented at an economic forum attended by Moldovan entrepreneurs and the chairman of the Parliamentary Commission for Economy, Budget and Finance, Radu Marian, Logos Press reported.
The MP noted the strengthening of economic cooperation with China, stressing that it should be based on mutual benefits. “Our producers depend to a large extent on the supply of raw materials, products and materials from China to create added value here in Moldova,” he said. – China is one of the most important economies in the world, actually the world’s factory, it is extremely competitive, and we should continue looking for solutions for mutually beneficial cooperation based on realism and mutual respect”.
He believes it is necessary to create export partnerships between Moldovan companies. This will allow them to become more competitive when entering the Chinese market.
The deputy director of the Investment Agency, Mihai Burunciuc, presented to the participants the advantages that Chinese companies wishing to expand their business in Moldova can take advantage of. At the moment, 81 companies with Chinese capital, worth almost 6.53 million lei, operate in Moldova. China ranks 51st among the main investors in Moldova.
Despite the intensification of economic ties between Moldova and China, the negative balance in foreign trade is high. According to Boris Fok, president of the Moldova-China Chamber of Commerce and Industry, 2024 was a record year for trade. “We surpassed the figure of $1.14 billion in total trade,” he said. – At the same time, exports from Moldova amounted to $8.6 million.”
He noted that such an imbalance in trade is not only due to the quantitative factor, by which we cannot initially catch up with China. The slowdown of Moldovan exports to this country occurred during the pandemic, when the transportation and logistics costs of companies increased and the foreign trade geography changed. To a large extent, this concerned the products of the agricultural sector and winemaking. In this context, Boris Foca recalled that “China not only sells a lot, but also buys a lot”.
