OREANDA-NEWS. October 06, 2014. Moldova will be first Eastern Partnership country to join the EU Programme for the Competitiveness of Enterprises and Small and Medium-sized Enterprises (COSME). European Commissioner for Industry and Entrepreneurship Ferdinando Nelli Feroci and the head of Moldova’s diplomatic mission at the European Union, Eugen Caras, signed an agreement in this respect in Brussels, on 29 September, according to a press release by the European Commission.

Feroci said that one of the main goals to this effect was to liquidate the trade barriers with the neighbouring countries.

"Compared to the economic giants as the USA, India and China, the European economic space is rather small and fragmented. We want to create business networks and promote cross-border cooperation, so that to increase the business success and develop companies. This is the reason for which I am happy that Moldova, together with the former Yugoslav Republic of Macedonia, joins COSME,” Feroci said.

COSME has a total budget of 2.3 billion euros for 2014–2020. It is a financing instrument that promotes entrepreneurial spirit, improves access to finances for Small- and Medium-sized Enterprises and increases their competitiveness. It is planned that the programme to support annually 39,000 enterprises and launch 900 new products, services or processes in business area.