During a symposium held on November 17 in Chisinau, Moldova’s potential entry into the Single Euro Payments Area (SEPA) was mentioned for the first time, according to a press release.
The event covered the advantages and difficulties of Moldova’s SEPA membership, the authorities’ accomplishments, and the further actions that the public sector must take to comply with SEPA requirements.
Janis Maeiks, the European Union’s ambassador to the Republic of Moldova, stated during the opening remarks of the conference that joining the Single Euro Payments Area will push Moldova further to the EU and its single market.
Citizens will gain immeasurable and obvious advantages as a result of being able to conduct cashless transactions in euros throughout the European Union. A strong, stable, and fully functional financial system that can support the country’s people and enterprises is needed in Moldova.
According to Janis Maeiks, the EU will continue to assist Moldova, particularly because the conditions for entering the SEPA mirror some needs for conforming to European law that are also important for EU membership.
The National Bank of Moldova organized the event as part of a Twinning Project titled “Strengthening Supervision, Corporate Governance, and Risk Management in the Financial Sector,” which was funded by the European Union.
