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In the days prior to Moldova's independence from within the framework of the Soviet Union, wine and spirits, clothing textiles, minor electrical equipments and processed food comprised the Moldova export sector. In exchange the country was held to be a very viable market for raw materials for industrial production, manufactured foods and fossil fuels. Ever since its freedom from the Soviet Union, Moldova has somewhat lost a big chunk of its export market and has remained unsuccessful in finding new markets from where to import goods. The pre-independence scenario did not undergo massive change even in 1991 when 96% of Moldova exports still found their way into former USSR markets. While on the one hand, Moldova was gaining as high as 572 million rubles in its trade with Russia, its export sector for other countries accrued losses as high as 875 million rubles. This picture was enough to suggest that Moldova could not establish a strong export market in the rest of the world.
The market and economy of Moldova witnessed an all-time disparity when exports surmounted such great heights as US $ 580 million and imports were down by 20% thus giving rise to trade deficit. In a desperate attempt to revive the economy and bring in a balance within the Moldova export market, the country established trading bonds with as many as 26 countries. Among these joint ventures were established with Hungary, Poland, Bulgaria and even the US among others. There were bilateral trading agreements made with many countries like China, Denmark, Serbia and others. However, even in 1995 statistics showed that former USSR partners still remained its main trading partners. Moldova's infrastructure got a major boost when it was made a member of the IMF and the World Bank in 1992. After becoming a member of the EU, the government of Moldova adopted the Law on Foreign Investment. Restrictions on import-export were completely done away within 1995 and today the country has a free economy.
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