Chinese company eyes construction of car rim factory in Moldova
A Chinese company is exploring the possibility of establishing a factory in the Republic of Moldova to manufacture car rims. Representatives from the company attended an economic forum focused on enhancing relations between the two countries. Trade between Moldova and China has reached $1.14 billion, with the increase largely driven by imports. Moldovan entrepreneurs are eager to begin exporting to China, which is one of the world's largest and most competitive economies.
Moldova has a very favorable geographical position, serving as a gateway to the Black Sea. While the Republic of Moldova is not currently a member of the European Union, it maintains good trade relations with the EU concerning exports and imports. This situation provides China with an efficient avenue to access the European market. For instance, investments in solar panels, buses, and car components could generate numerous new jobs for citizens of both countries, according to Mark Zhang, a representative of a Chinese company.
Trade relations with China are improving due to increased imports, while Moldovan exports remain relatively low, totaling around 8.46 million dollars.
"Wines were once the main export to China; unfortunately, that is no longer the case. Today, Moldova's exports to China are approximately 8 million dollars, which is a very small figure," notes Boris Foca, president of the Moldova-China Chamber of Commerce and Industry.
China remains an attractive market for Moldovan importers. For example, Alexandru Tatarciuc sources agricultural seeds and fertilizers from China.
"The biggest advantage lies in quality and price. We can find high-quality products at lower prices. Logistics have improved significantly in recent years, making it easier to import goods. In fact, prices for some products have even decreased recently," the entrepreneur explains.
"China is one of the world's largest economies. Many of our producers rely on raw materials and inputs from China. This is crucial for ensuring our products remain competitive in both local and international markets," emphasizes Radu Marian, chairman of the Parliamentary Committee on Economy, Budget, and Finance.
China has become Moldova's third-largest trading partner, with imports and exports between the two countries now accounting for nearly 10% of Moldova's total trade.
