The European Political Community Summit and Its Economic Implications for the Republic of Moldova
Automatically translated summary. The full text is available in Romanian.
On 1 June 2023 the Republic of Moldova will host the second Summit of the European Political Community, a new platform for political coordination among European countries. Beyond its role in European integration, the event is an investment in the national economy that could benefit firms and the investment climate, provided reforms follow.
The summit will raise Moldova's profile and prestige, which can open doors abroad for local businesses, attract foreign tourists and present the country as a safe destination. It also gives economic diplomacy material to promote exports and attract investment, while holding the event in a winery can widen the market for Moldovan wine.
Immediate gains are expected too: with some 1,500-2,000 foreign delegates and journalists, local firms, especially in HoReCa, could make additional sales of MDL 6 million to 10 million. Actual benefits depend on preparation, investment and how the opportunities are managed. The authors urge the authorities to speed up improvements to economic diplomacy, including reforming and strengthening the Investment Agency, and to advance justice reform and alignment with the EU acquis.
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