Moldova’s foreign trade was marked by several major evolutions in the first semester of 2007, which are subject of analysis in this edition of the Business and Economy Review. On the one hand, the trade deficit continued to grow. It reached 1007.3 mln. USD at the end of June, 45 percent up as compared to 2006. On the other hand, the data show that the European Union became the main export destination for Moldovan producers. The “geographical” restructuring goes along with the reshuffle of exported goods; the textiles became the main export item to the detriment of agro-food exports. The revitalization of agro-food exports will require the authorities’ and companies’ efforts in ensuring the quality, certifying the exported goods and increasing their competitiveness. The main component of this category - wine exports - apparently has better perspectives to return to Russian market. However, this return will not solve all problems within the sector. At the same time, both the interests of the Moldovan wine-making companies and the Russian partner companies and consumers, would require a higher level of transparency and predictability regarding this sensitive subject.