Moldova, United Arab Emirates initialed two agreements

13:40 | 05.04.2017 Category: Economic

Chisinau, 5 April /MOLDPRES/- Moldova and the United Arab Emirates (UAE) have initialed agreements between the two states on promotion and mutual protection of investments and on avoiding double taxation and fiscal evasion on taxes on income and property. The documents were initialed following negotiations of expert groups held on 2-5 April in Abu Dhabi city.

The head of the Economics Ministry’s department for international economic cooperation, Mihaela Gorban, noted that the sides agreed on organizing a new round of negotiations on the agreement between the governments of Moldova and UAE on economic and technical cooperation. Its signing will help boost the bilateral economic relations and create the legal framework for establishment of the intergovernmental commission on economic cooperation between the two states.

Regarding the agreement on promotion and mutual protection of investments, the quoted source said that the document would encourage the mutual investment flow by creating conditions favorable for investors from both states, would regulate the promotion and mutual protection of investments and would help expand cooperation between Moldova and UAE in various sectors.

The second document on avoiding double taxation and fiscal evasion on taxes on income and property will allow creating equal tax opportunities for all economic agents which will conduct business activity and create prerequisites for enhanced cooperation between tax authorities to combat tax evasion internationally.

Gorban also pointed out that after passing all national approval procedures, the sides plan to sign the three bilateral cooperation agreements by late third quarter of 2017.

According to the data by the Economics Ministry, 9 companies with capital of Emirates are currently operating in Moldova which have invested in the national economy about 40 million lei. Compared to 2015, the bilateral trade between Moldova and UAE increased by 12.74 per cent last year.

(Reporter A. Mardare, editor L. Alcază)

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