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March 23, 2023

Romania, willing to develop the economic relations with China

Romania’s natural resources can represent a good opportunity for investors, BNR vice-governor Bogdan Oltean considers.

Romania wants to develop its economic relations with China, as the growth rate of Romanian exports outpaced that of imports last year, PM Mihai Razvan Ungureanu (photo) said yesterday, quoted by Mediafax.“Over the last two decades, Romania attracted foreign direct investments worth over EUR 53 bln and, in the present economic conjecture characterised by uncertainty and economic difficulties, diversifying the trade exchanges and the palette of investors, also with the increasing emergence of big economic powers, represents a priority for the Government. To this regard, we take the example of commercial exchanges with China,” Ungureanu said during a press conference on the economic relations between Romania and China. According to the premier, the bilateral relations between Romania and China developed in 2011 against 2010, with Romanian exports advancing by 36.27 pc and imports by 8.24 pc, which took bilateral trade to a total USD 4.2 bln.“Romania preserved its character of open economy. These years, we made efforts in order to attract investors. Even though painful reform measures were needed, Romania was able to stop the economic decline and resume its growth. For 2012, we predict a growth rate of 1.5-2 pc,” the prime minister added. On the same occasion, the vice-governor of the National Bank of Romania, Bogdan Olteanu said that the natural resources of Romania can represent a good opportunity for investors, money.ro reports.“The political option in the sector of natural resources can have two alternatives. Either they remain under state property, or they are managed by concessionaires. I would see Romania’s resources as a good opportunity for the foreign investors,” Olteanu mentioned. According to the BNR official, the problem with state-run companies is whether the state really can manage these companies. “We cannot keep a factory closed until we decide whether we are able to manage it, or not,” the vice-governor added.

Chinese Ambassador: Gov’t will continue to support the investments in Romania

The Chinese government will continue its policy of supporting companies to invest in countries of South-East Europe, also in Romania, the Ambassador of the People’s Republic of China to Romania, Huo Yuzhen said during the same conference. According to the Chinese diplomat, bilateral exchanges between China and the states of South-East Europe topped USD 15 bln last year.“The economic cooperation between China and South-East Europe amounts to USD 15 bln. China’s imports increased even faster, by 37.4 pc. We express the intent of boosting the mutual benefits between China and the countries of South-East Europe. The Chinese government grants a major importance to the relation with Romania, and intends to intensify the communication at all activity levels, with benefits for both states,” Huo Yuzhen stated.

Rasvan Radu (UniCredit): Resuming the crediting process can be a source of economic recovery

Resuming the crediting process and regaining the confidence of companies can be main sources of economic recovery for Romania and the countries of Central and Eastern Europe, the president of UniCredit bank, Rasvan Radu said during the conference ‘CEE – Bridging Investment and Business Opportunities,’ organised by CFA Romania, the professional association of international certified financial analysts.According to the bank official, the areas with potential are those that can bring a high added value.“Agriculture, energy, component manufacturing, and engineering are sectors where investments must be encouraged and supported,” the president of UniCredit explained. He also emphasised the need for “simplifying the access to European funds and easing the fiscal burden imposed to economic agents.”


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