| Author (Corporate) | European Commission: DG Neighbourhood and Enlargement Negotiations (DG NEAR) |
|---|---|
| Series Details | COM (2024) 470 |
| Publication Date | 09/10/2024 |
| Content Type | News, Policy-making |
Summary:Communication adopted by the European Commission on 9 October 2024, setting out a Growth Plan for Moldova. Further information:Moldova's convergence with the European Union's (EU) single market started in 2014 with the provisional entry into force of the EU-Moldova Association Agreement. Through the Economic and Investment Plan (EIP) for the Eastern Partnership, the EU has mobilised funding for flagship projects in critical sectors. However, the COVID-19 (coronavirus) pandemic and the impact of Russia's invasion of Ukraine have slowed down the convergence process between Moldova and the EU. Moldova submitted its application to join the EU in March 2022. As a result of reform commitments, the country was granted EU Candidate status in June 2022 and accession negotiations were launched in June 2024. However, the slow pace of convergence and low economic growth may hinder rapid progress unless there is further political and economic support. The Moldova Growth Plan is similar in its aims compared to the Growth Plan for the Western Balkans (2023). The Plan is built on three pillars - socio-economic and fundamental reforms, access to the EU single market, and financial assistance through a dedicated Reform and Growth Facility for Moldova. It seeks to boost socio-economic convergence with the EU and support the accession process, based on the implementation of EU-related reforms. This Communication was adopted by the European Commission on 9 October 2024 alongside a draft Regulation establishing the Reform and Growth Facility for Moldova. |
|
| Source Link | Link to Main Source https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=COM:2024:470:FIN |
| Related Links |
|
| Subject Categories | Economic and Financial Affairs, Politics and International Relations |
| Subject Tags | Economic Governance | Situation, EU Enlargement |
| Countries / Regions | Moldova |
| International Organisations | European Union [EU] |
