This is stated in a news release issued by the Economic Development and Digitalization Ministry on the participation of a Moldovan delegation in the 14th Ministerial Conference of the World Trade Organization (IC14), held in Yaounde, Cameroon, from 26 to 29 March.
The Republic of Moldova reaffirmed its commitment to a modern and efficient multilateral trading system and supports the adoption of the Ministerial Declaration and Work Plan on WTO reform as one of the central results of the 14th Ministerial Conference.
For the Republic of Moldova, as an open economy, a stable multilateral trading system remains crucial for its economic development. The ministry notes. In this context, our country supports the achievement of concrete and promising results within the framework of MC14 in a number of priority areas.
Moldova supports the integration of the Agreement on Simplification of Investment Procedures for Development (SIPA) into the WTO legal framework, considering that this will contribute to increasing transparency, simplifying procedures and creating a more predictable investment environment, especially for small and developing economies.
Bring back the dispute settlement mechanism
At the same time, the Republic of Moldova supports the continuation of the moratorium on the application of customs duties on wire transfers, with the prospect of transforming it into a permanent measure. The digital economy is a critical driver of economic growth, innovation and inclusiveness, and maintaining an open environment for digital trade is crucial. At the same time, the Republic of Moldova supports efforts to adopt an e-commerce agreement to develop a modern, inclusive and transparent regulatory framework.
An important item on the agenda of the conference is the discussion on the re-establishment of a functional dispute settlement system within the WTO. The Republic of Moldova reiterates the need to restore an effective, binding and accessible mechanism for all members, necessary for the credibility of the organization. In this context, the Republic of Moldova decided to join the Provisional Multilateral Appellate Arbitration Agreement (MPIA), which reflects our country’s commitment to respect the rules of international trade.
Moldova reiterates its commitment to international cooperation and to promoting a strong, rule-based and development-oriented multilateral trading system, capable of meeting the current and future challenges of the global economy, the Economic Development and Digitalization Ministry said in a statement.
