Ambassador: Moldova–Belgium political ties reach historic high, but economic challenges remain
The political relations between the Republic of Moldova and Belgium are stronger than ever, according to Viorel Cibotaru, the Moldovan Ambassador to Brussels. He noted that the new Belgian government remains committed to supporting Moldova's European aspirations and enhancing bilateral relations.
Economic relations present a significant challenge for the Republic of Moldova. While the country attracts projects aimed at opening new businesses, large investors often see it as a limited market. Therefore, the authorities in Chișinău need to organize more events abroad to promote local producers and their products.
"We are focusing on this capacity and have excellent relations with the Moldovan-Belgian-Luxembourgish-Romanian Chamber of Commerce, which has over 200 members, including representatives from the Republic of Moldova. This facilitates a broader collaboration," stated Viorel Cibotaru.
The diplomat noted that several investors are "in different phases of entering the Moldovan market."
Recently, the Benelux Economic Forum took place in Chișinău, attended by investors from Luxembourg, Belgium, and the Netherlands. "I hope the results of this forum will lead to joint investment projects," Cibotaru added.
Ambassador Viorel Cibotaru also mentioned that the ongoing war in Ukraine has made major investors cautious about investing in Moldova, leading them to wait for the conflict to end.
"The current war situation and the uncertainty regarding the restoration of the destroyed areas in Ukraine, coupled with the prospects for infrastructure reform investment in Moldova, have made major investors hesitant to proceed. Although there is a desire to invest, there is also a fear that the war could persist and adversely impact business development."
We remind you that in 2024, the trade volume between the Republic of Moldova and Belgium exceeded $75 million.
