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Bucharest
September 18, 2021
BUSINESS

Chinese PM pledges to boost investments, trade with CEE countries



China needs long-term, reliable political friends and trade partners and Romania and the countries in this region of Europe have a tradition in this respect, said Premier Ponta in the opening of the China-CEE Forum of Businessmen.
“But I must say here very clearly: Europe can be powerful only if all the countries develop economically rapidly enough in order to increase the living standards, infrastructure and the social services,’ said Victor Ponta. The cooperation between the countries of Central and Eastern Europe and China is part of the China-European Union relation, added the Romanian Premier.
‘Day in, day out, the value of the economic exchanges between the European Union and China tops one billion euros and the Chinese investments in the European Union increased 30 times in 2011 from the previous years. … The bilateral trade is one of the main components of the Europe-China relations. I could go on but it would be useless. The cooperation between the Central and East European countries and China is part of this relation. I hope the results will be visible at the end of this forum and that cooperation will strengthen and will be raised to another level,’ also said the Romanian Premier. He also pointed out the presence of a large number of businessmen at the China-Central and Eastern Europe Economic Forum. ‘I am very proud to welcome to Bucharest the over 300 businessmen from China, more than 400 businessmen from Central and Eastern Europe and very, very many businessmen from Romania,’ said the Prime Minister. Ponta told the participants in the forum of the development opportunities in the region, in such fields as education, technology, agriculture, all this in cooperation with China, Agerpres reports..
Ponta told the participants in the forum of the development opportunities in the region, in such fields as education, technology, agriculture, all this in cooperation with China, Agerpres reports.
Li stated that Romania will become a tiger of Europe and if all tigers join forces and work together a huge market will develop, pointing out that the potential of developing commercial relations and investments between China and regional countries is very large. In these sense, he added that China is ready to consolidate cooperation with the CEE countries in the areas of infrastructure (roads, bridges), nuclear power, fast trains as well as in launching large-scale projects, all of which are conducive to massive investments and further on to a rise in trade. On financial cooperation, Chinese and CEE leaders vowed to beef up coordination, encourage their financial institutions to carry out cooperation in various forms, and make good use of a USD 10 bln special credit line to boost trade and economic cooperation between the two sides. “We have to also actively extend bilateral investments both ways and we are ready to extend the possibilities for the signing of a framework agreement on industrial investments together with the countries in the region. Jobs creation is a top priority that serves the people. China’s development will not be sustainable without cooperation with other countries,’ said Li.
Addressing the forum, Traian Halalai, the Eximbank Chairman said that his bank proved its availability to take part in projects aiming at stimulating the Chinese investments in Romania, especially in the context of the financial program amounting at USD 10 bln, supported by Chinese authorities in order to strengthen the cooperation with CEE countries.
Mircea Geoana: Romania wants balance in its trade with China
In his turn, Aspen Romania Chairman, Senator Mircea Geoana told that balance in trade with China is very important and the fact that Romania can export to Asia is a very good thing. ‘When we hear certain voices expressing worries over the Chinese offensive to our region, I want to say that the main worrying thing is not that out countries can draw in additional foreign direct investment, but the true risk to Europe is derailing from the way to prosperity. I believe additional investments in our region are added value for the entire European design and in no way some means of distracting from the continual efforts of the European Union, Agerpres informs. The European Union should lay the foundations for a new silk road. Romania has a series of competitive edges: IT&C, oil and gas, energy and the automotive industry. Romania is also faring well as far as engineering, design and software are concerned. When we look at Romania we can see that thanks to its sizes and ambitions, there are chances of coping with a silk road. This is a two-way road. We want balance in our trade with China and I believe is a very good thing that we can export to Asia,’ said Geoana.
He also mentioned that Romania can become a logistics gateway between East and West as well as a key maritime corridor, also pointing to the energy potentials of Romania.
Min. Sova: Romania wants to give new thrust to direct foreign investments
Romania’s Government has a consistent strategy for restoring the confidence of foreign investors and thus wants to give a new thrust to direct foreign investments with added value, Minister Delegate for National Interest Infrastructure Projects and Foreign Investments Dan Sova said yesterday at the China-Central and East European Countries Economic and Trade Forum carried out in Bucharest. “We want Romania to become a technologic and industrial hub in Central and Eastern Europe and I underline here the auto area potential. Renault and Ford have chosen Romania as production country. Completely equipped cars or car parts produced at the highest quality standards are manufactured in Romania,’ Sova said.
According to the official, Romania holds one of the most important working capitals in Europe and not only in the IT&C industry, bringing to mind, at the same time, the strategic projects worked out by the Romanian authorities. He added that, based on the most important economic growth in the European Union registered in the first nine months of the year, Romania could boast significant figures.
Minister Voinea encourages foreign investors to buy Gov’t bonds
Minister-delegate for Budget Liviu Voinea has encouraged the investors attending a China – Central and Eastern Europe Economic and Trade Forum going on in Bucharest to buy bonds issued by the Romanian Government, mentioning that Romania’s public debt is three times smaller than the European average, Agerpres reports. “Compared with the European average, Romania’s public debt is three times smaller and its level has stayed constant after 2009-2010. The debt profile has changed considerably over the past five years. Half of the bonds are euro-denominated, 30 percent US-dollar denominated and 20 percent denominated in the local currency, the leu (RON),’ said Voinea. ‘Part of the securities have been included in the JP Morgan index, which means they are better performing now than when they were issued. The plan for 2014 includes a minimum level of EUR 11 bln and a maximum one of EUR 14 bln,’ added Voinea. He said 24 percent of the RON-denominated bonds are held by non-residents, with 5-7 per cent of the buyers being from Asia.
Agrifood exports to China will drive the current account to a surplus next year
The exports of agrifood products to China, which will begin on January 1st 2014, will drive Romania’s current account to a surplus, probably for the entire next year, not just for half a year, the delegate minister for Budget, Liviu Voinea also said. “We speak about Romanian exports to China that will begin on January 1st 2014. It is a huge market where we have not excelled so far in terms of agrifood products,” Voinea added. In his turn, the minister of Agriculture, Daniel Constantin mentioned that the Chinese want to import sheep from Romania and Romanian authorities believe that the export potential is 4-5 million heads. The Chinese also expressed their interest for the import of bovines, as well as of pork meat. “The time has come to restart private investments in a zone where cash does exist. The problem of foreign investors during these years was represented by the problems existing in their countries of origin with the capitalisation of banks or the investments of companies that withdrew their money from Romania, but also from all countries. China does not have this kind of problems, on the contrary, it has capital to invest,” Voinea added.
In his turn, the delegate minister for Energy, Constantin Nita said Tuesday that the investments made by Chinese companies in Romania will represent “China’s winning card in Europe.”
Contracts worth EUR 10 bln negotiated
The technical talks with Chinese partners for the construction of the Vienna-Bucharest-Constanta high-speed railroad will begin on December 10, the value of the project being EUR 11 bln, Transportation minister Ramona Manescu announced yesterday.
On the same occasion, Constantin Nita, delegate minister for Energy announced that several Chinese companies are interested to invest over EUR 5 bln for energy projects in Romania, with the first contracts possibly due to be signed next year.
Bilateral trade stood at USD 2.9 bln in first 9 months
Trade exchanges between Romania and China amounted to USD 2.9 bln January through September this year, up 1.5 percent compared with the same interval last year, however, we still want to consolidate further our economic and commercial relations, Sun Chengai, the head of the Trade Development Office of the Ministry of Commerce of the People’s republic of China, said to the forum. He specified that the economic forum in Bucharest is the third that is being organised in the region and that it represents another platform that follows the first successful two and creates new cooperation possibilities.

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