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March 25, 2023

Romania-Turkey trade might grow 20 pc this year

Commercial exchanges between Romania and Turkey decreased 41 per cent last year, below the 2008 level, to around EUR 4 bln, but will advance 20 per cent in 2010, Omer Susli, head of Turkish Businessmen Association in Romania (TIAD), said yesterday, quoted by Mediafax. Susli stressed that Turkey is Romania’s fourth biggest trade partner, given that 25 out of 100 dollars’ worth of Romanian exports go to Turkey. He added that there are around 10,000 Turkish companies in Romania now. “For 2010, we intend to resuscitate the turnover between Romania and Turkey, and the growth that we envisage is around 20 per cent. In Turkey, measures against the crisis were firmly taken, and the economic situation is now very stable,” he added. Companies with Turkish capital in Romania have mostly invested in banking, constructions, production and retail.

On another hand, Claudia Pendred, head of EBRD for Romania, who attended the seminar organised by TIAD, said the financial institution will continue to invest significantly if there is demand, underlining that investments this year might exceed EUR 1 bln. EBRD investments in Romania currently amount to EUR 4.4 bln. Pendred believes that export and infrastructure are the sectors that will help Romania surpass the crisis because they can make profit and create jobs. “Turkish firms that operate in Romania and have projects below EUR 5 M can appeal to Romanian banks which have funding lines for SMEs opened by EBRD, such as Banca Transilvania, BCR and BRD, but also other banking institutions,” the head of the EBRD Bucharest Bureau said.

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