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August 14, 2022

PM Ponta: We need a transatlantic economic union

The need for an economic union becomes and increasingly stringent goal among the European countries in the present geopolitical context between Russia and Ukraine. Romania, in its turn, shares this idea.
“We need more than a European economic union, we need a transatlantic economic union. (…) We need a common security space Europe – United States, but we also need a space of economic cooperation. We were lazy in reaching these two fundamental goals and now, being confronted with something which we though as completely over 25 years ago, the threat and aspirations of Russia to become some sort of Soviet Union, now we realize that we must rapidly move toward creating a common European-American space of security, but also of economic prosperity,” PM Victor Ponta told the plenary session of the Security in the Black Sea Region programme, organized at the Parliament Palace, Agerpres informs.
The statements of the premier come against the background of intense negotiations between EU and USA for a free-trade agreement (TTIP) that could remove many of the existing barriers which limit commercial exchanges now.
Furthermore, according to PM Ponta, the government is ready to support, through legislation and stability of royalties, the projects of large companies and secure the energy independence in the perspective of the “cold war that will come along with the winter.”
“I want to say that it is not easy, not without challenges, but we are on the good way and the Government and the Parliament majority support the idea of having conventional and unconventional resources, in order to be capable to cover our domestic consumption need in the near future, within 3-4 years, and also to secure the necessities of R. of Moldova,” Ponta mentioned.
According to the same source, the most important American and European companies are currently conducting explorations in the Black Sea, and the first results are very encouraging, so the government is ready to support – through its internal legislation and the stability of royalties – the projects developed by these big companies like Exxon, OMV- Petrom, Repsol. He reminded that the construction of the gas pipeline toward the Republic of Moldova have started and evoked another project he envisages, the construction of a submarine power cable toward Turkey,  one of Romania’s strategic partners in the Black Sea region.
Revenues from Electrica’s listing for Romania-R. Moldova energy infrastructure
Also, in another context, PM Victor Ponta said on Monday that all financial resources obtained from the sale of shares of Electrica company, which may be actually listed on the stock exchange by end-June, will be used to invest in the energy infrastructure connecting Romania to the Republic of Moldova.
“(…) We decided, as a political decision, to leave the money to the company to invest them in enhancing the energy infrastructure connecting Romania to Moldova, Ukraine,’ Ponta told. Ponta said this is the kind of political decision only Romania should take. ‘Perhaps even the EU will understand this is the time to invest in energy infrastructure,’ Ponta said. The actual listing of Electrica should be made at the end of June, with the subscription to begin at the middle of next month, according to a Energy Department release. According to Minister-delegate for Energy, Razvan Nicolescu, the Energy Department intends to turn Electrica’s listing into the biggest listing ever held on the Bucharest Stock Exchange.

Academic dialogue to find solutions to international security threats
President Traian Basescu recommends an intensification of the dialogue in the academic world as a part of a wider effort of the international community to identify solution to the risks for international security in the Black Sea region, a release of the Presidential Administration informed. Basescu made these recommendations upon receiving at the Cotroceni Palace the participants to the ‘Security in the Black Sea region. Shared challenges, sustainable future’ training programme. According to the document, the President mentioned the new security context in the Black Sea region and the geopolitical consequences of the illegal annexation of Crimea by Russia.The programme was set up by the Mihai Viteazul National Intelligence Academy of Bucharest, in a partnership with the Harvard University, with the participation of the US National Intelligence University, under the high patronage of the Presidential Administration.

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