Socio-economic perspectives of the Republic of Moldova in the context of integration into the European Union. Arguments in favor of membership

Abstract

Integration into a free trade agreement union has the potential to expand economic growth by boosting exports and benefits from all the other outcomes that follow the integration process. This article explores the economic and political prospects of the Republic of Moldova as a small, poor, ex-communist country located between the European Union and the prospected Eurasian Union, against an uncertain and dynamic geopolitical background. In addition, the article reveals recommended policies in promoting the adoption of the European way as the best alternative for the future. Through a comprehensive literature review and an analysis of current trends and data reports, the article highlights the importance of Moldova’s focus on European Union integration. It examines various facts and realities from the Republic of Moldova and the international business issues that connect the country with the rest of the countries in its area, especially Romania on the one hand, and the former communist countries on the other, in its attempt to escape from Soviet heritage. In addition, the article discusses the challenges and opportunities associated with the integration project. It ends by highlighting the benefits and presents recommendations for accelerating and implementing the integration of the Republic of Moldova into the European Union.

Keywords

• european union
• membership and integration
• social and economic perspectives
• european economic wealth
• economic growth