Moldova woos Indian investors in textiles, agriculture

Moldova is wooing Indian investors in textiles, agriculture and a few other sectors, as it plans to open an embassy in India in 2019, according to the country’s minister of foreign affairs and European integratio, Tudor Ulianovschi. In September, a delegation of 10-12 textile business representatives will visit India to explore cooperation avenues, he said.

Ulianovschi was recently on a visit to New Delhi. He is the first Moldovan foreign minister to visit India.

Moldova is interested in an economic and trade agreement and a foreign investment promotion and protection agreement with India. A visa agreement is also needed as Indians need an invitation from Moldova to visit the country now, he told an Indian news agency in an interview.

Annual bilateral trade between the two countries now stands at around $34 million.

Ulianovschi said Indian producers can use the extremely high quality agricultural land in his country.

Moreover, if a company invests more than $1 million in a free economic zone in Moldova, it does not have to pay taxes for three years, he added.