The Chongqing municipality pushes ties with the Republic of Moldova by signing a cooperation agreement in trade and tourism between the Golden Coast Marine Development Co Ltd and the Cricova Company in Moldova.

The signing ceremony was held on March 26 in Beijing, only three days after a visit by Vasile Bumacov, minister of Moldova Agriculture Ministry, to the municipality, who spoke about his recognition of stable financial policies as well as regional strength, health and a sustainable business atmosphere in the municipality region.

"China is a super nation with more than one billion people and its development is becoming one of the most observed phenomena in the world," said the minister.

"By pushing for market reforms of the economy and joining the World Trade Organization, China has transformed into the second largest economy to absorb foreign investments after 2000 by offering more investment opportunities under a reasonable economic structure."

Chongqing and other western areas of the country enjoy significant developments and huge business potential to tap," he said.

During the ceremony, the Golden Coast Marine Development group had become the general agent of Moldova wines in the nation. It is an investment management corporation with integrated businesses ranging from investing and managing the yacht industrial park, the chain yacht clubs and chain hotels, travel and development to promote wine culture.

The minister said they want to provide low costs and good quality Moldova traditional wine for the Chinese.

"Chinese consumers are accepting the concept of healthy and fashionable consumption patterns. They understand that drinking wine is good for health," said the minister.

Global wine sales have dropped due to the global economic downturn, but the domestic market shows annual growth rates of more than 10 percent in the last few years.

China is becoming one of the 10 largest wine markets in the world. According to industry insiders, the domestic wine market could reach annual sales volume of 1 million tons in 2012.

"We plan to build a copy of the famous Cricova wine cellar, hoping the move would develop sales channels and markets in the country, together with the aid of Chinese partner's ten yacht clubs."

"With Moldova wine culture spreading across the country, cooperation will achieve win-win results between the two nations."

Moldova's wine culture

Moldova wine tastes pure, which rivals the French wine for its quality and lower prices.

Located in Southeastern Europe, Moldova is known for its advanced winemaking. The country maintains good relations with Russia and Eastern European countries.

It has the largest grapevines area and most grape cultivated species among the Commonwealth of Independent States including Armenia, Azerbaijan and Belarus with annual grape output of approximately 950,000 tons.

Dubbed as the "Wine Kingdom", it has 150 wineries, producing 350,000 tons annually. The wine can be divided into 150 types with 90 containing high quality and registered trademarks.

The output value of Moldova winemaking industry accounts for 18 percent of total industrial value, 9 percent of national gross domestic product and 8 percent of the state revenues for Moldova.