President thinks already at post – recession period

Attending a meeting with businesspeople affiliated with the American Chamber of Commerce in Romania (AmCham) on Wednesday evening, President Traian Basescu said Romania’s objective was to continue co-operation with the International Monetary Fund (IMF) and the World Bank (WB) after recession ends, in an assistance framework. According to Mediafax, the head of state said he did not expect the country to need a new standby agreement.

‘The objectives of our cooperation with organizations such as the IMF or the WB stem from our EU membership. Any programmes we shall develop together with the Fund and the World Bank will therefore be primarily for technical assistance, pursuing objectives that will result from the new EU 2020 Strategy. We will need to pursue these in the framework of the convergence programme and for spending EU funds as a matter of priority’, the president emphasised. He also mentioned agriculture reform, where, apart from investments, Romania also wants to consolidate land areas. The president also said Romania intended to develop tourism. In respect of IT, Basescu stated existing investments showed the country had ‘enough human resource and brains it can make available for US companies specialising in IT’. The president added the expansion of broadband networks was a priority to the Ministry of Communications.

President Traian Basescu added Romania has made a priority out of modernising its energy system, mentioning that thermal power stations needing upgrading and EU system adjusting were on the investment short list. On the other hand, Basescu told AmCham members he was a supporter of public-private partnership investments as long as they were genuine and did not seek to achieve an unfair re-distribution of returns.

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