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Industry, Innovation and Infrastructure
Preface
Since 2010 UNECE has been undertaking demand-driven national Studies on Regulatory and Procedural Barriers to Trade (RPBT) to help countries achieve greater regional and global economic integration to inform donors about where assistance might be needed and to support policy discussions within the UNECE Steering Committee on Trade Capacity and Standards and its subsidiary bodies.
Acknowledgements
This RPBT Study was developed under the auspices of the UNECE Steering Committee on Trade Capacity and Standards in the framework of the UNECE Regular Programme of Technical Cooperation (RPTC).
Introduction
The Republic of Moldova is a small landlocked upper-middle-income country. The Moldovan economy has experienced multiple shocks including most recently the COVID-19 pandemic and the effects of geopolitical tensions in the region. Despite the economic volatility and disrupted trade flows the country is undertaking numerous structural reforms in line with its international commitments and national development strategies. These reforms include overarching good governance reforms aimed at improving the investment climate as well as targeted efforts to enable the green and digital transformation in the country. All these efforts are critical to facilitating and further enhancing the trade potential of the Republic of Moldova.
Conclusion and the way forward
This assessment reviewed the trade facilitation framework and the status of implementation of WTO TFA commitments in the Republic of Moldova.
Foreword
Trade facilitation involves the simplification modernization and harmonization of often unseen procedures which are crucial to ensure the seamless movement of goods across borders contributing to economic growth fostering prosperity and improving the quality of life for citizens.
Study on Regulatory and Procedural Barriers to Trade: Assessment ofTrade Facilitation Framework - Republic of Moldova
This Study provides an overview of the current state of play with respect to the implementation of the World Trade Organization (WTO) Agreement on Trade Facilitation (TFA) remaining commitments and other barriers. It describes capacity-building needs and presents recommendations for the way forward. It also provides a detailed overview of existing UNECE tools which can support further reforms. The Study also reviews additional trade facilitation measures identified during the preparation of the 2023 edition of the UN Global Digital and Sustainable Trade Facilitation Survey.
Key Messages
Small and medium-size enterprises (SMEs) are important contributors to economic development representing a substantial portion of businesses globally. Global markets offer SMEs opportunities for growth diversification and resilience. Access to international markets enables them to tap into new customer bases gain exposure to diverse business practices and foster innovation through cross-cultural collaboration.
Assessing investment policies from the perspective of SMEs: A policy framework
This chapter reviews existing policies that promote inward and outward FDI and their effectiveness with respect to smaller investors. It aims to identify policy gaps and challenges and evaluate the extent to which current policies align with the determinants and success of SMEs’ inward and outward FDI. Existing policies often focus on large MNEs; that is implicitly or explicitly SMEs are often overlooked in policy design. From an SME perspective FDI is often a make-or-break decision whereas for an MNE it is one of many decisions – hence the importance of focusing on the investment promotion and facilitation mechanism for smaller companies.
Promoting International Investment by Small and Medium-sized Enterprises
This report examines through empirical research and policy analysis the internationalization process of Small and Medium-sized Enterprises (SMEs) shedding light on the key factors challenges and strategies essential for harnessing the global potential of these dynamic enterprises. The objective of this report is to offer a practical guide to policymakers for the promotion and facilitation of SMEs inward and outward investment. It aims to identify ways and means both to attract FDI by (foreign) SMEs and to support the internationalization of (domestic) SMEs to maximize their development benefits. The report presents new insights and real-world examples of SMEs that have successfully navigated international markets emphasizing the lessons learned and best practices and illustrating the impact of supportive government policies and initiatives on SMEs' global ventures.
Acknowledgements
This report was prepared by a team at the Division of Investment and Enterprise of UNCTAD led by Amelia Santos Paulino under the overall supervision of Richard Bolwijn and with background research and inputs from Claudia Trentini. Dafina Atanasova Hamed El Kady Kumi Endo Massimo Meloni and Mathilde Closet provided inputs and comments. Elisa Navarra provided valuable research assistance.