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September 24, 2021

EconMin Nita: Romania remains a viable alternative for Israeli investors

Romania remains a viable alternative for the Israeli investors, as it offers multiple advantages, both in its capacity as a EU member state and also while considering its geographical position and the environment milieu, Minister of Economy, Constantin Nita, underscored on Tuesday, during a meeting with the Minister of National Infrastructure, Energy and Water Resources of the Israeli State, Silvan Shalom.
Constantin Nita mentioned at the meeting attended by the Israeli Ambassador in Romania, Dan Ben-Eliezer, and numerous representatives of large Israeli companies operating in energy, natural gas and water management resources fields, that Romania represents one of the most attractive destinations for the Israeli investors interested in entering or strengthening their position on the European market.
According to a release of the ME, the unfolding of the second joint meeting of the Romanian and Israeli governments, held in Jerusalem on June 24, 2014, had marked the beginning of a new stage in the bilateral relations, while the Tuesday meeting represented another opportunity for the two dignitaries to discuss in detail about their further development.
During the talks, the Romanian Minister of Economy and the Israeli Minister of National Infrastructure, Energy and Water Resources agreed over the existence of an important potential for cooperation in advanced technologies, with a view to developing in Romania products for the aeronautical and electronic industry, information technology industry, communications, pharmaceutical industry, foodstuff industry and agriculture.
Moreover, the Israeli companies will be able to take part in a series of projects in the fields of road infrastructure, energy, running water and sewerage, water purification in Romania, but also in other industrial fields, agriculture, financial-banking and insurance sectors, real estate and trade etc.
On the other hand, the Romanian companies will be able to join in their turn to Israeli ones to develop projects in Israel or third markets, especially in the constructions field (including here infrastructure works), oil and gas, energy, road and rail infrastructure.
Israel is one of the important economic partners of Romania, with the highest level of bilateral exchanges recorded in 2013, the same as the highest level of exports to this country was recorded last year. Bilateral trade exchanges accounted for 491.8 million dollars, by 5.7 per cent more than in 2012, while Romanian exports to this country totaled 274.1 million US dollars (up 28.8 per cent) and imports from Israel stood at 117.7 million US dollars in 2013.
Bilateral trade exchanges saw a 2.5 per cent growth in H1 2014 against H1 2013, and exports recorded 4.6 per cent growth.
According to data provided by the National office of the Trade Register direct Israeli investments in Romania totaled 80.5 million US dollars on July 31, 2014, representing the total subscribed share capital of 6,664 companies running on Israeli capital, which placed Israel on the 33rd spot in the ranking of direct foreign investments in Romania.

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