A commercial delegation consisting of the representatives of 50 British companies will be in Bucharest on March 9-10, being set to take part in a series of conferences, meetings and discussions. This is the biggest British commercial mission to Romania since 1989, British Ambassador Paul Brummell writes on his blog.
Bilateral trade between Romania and the United Kingdom reached EUR 3 bln in 2014. The talks with the Romanian business sector will mainly centre on several main sectors: nuclear energy, oil and natural gas, transport infrastructure, water management and the environment.
These sectors can benefit from significant modernization, through EU funding of GBP 130 bln, funding that will be channelled toward Central and Eastern Europe from 2014 to 2020, funding that is 11 per cent higher than in 2007-2013. Most of the funds will go to the environment and transport sectors (over 20 per cent each). Approximately EUR 9 bln would be available for infrastructure projects in Romania. 2015 will be a crucial year in what concerns the decisions that have to do with the way in which these funds will be spent. These are sectors in which the British industry is known as a world leader, and Romania can benefit from Great Britain’s expertise. Romania is a relatively straightforward place in which to do business, Paul Brummell adds.