BUSINESS

Romania could consolidate its role of entry gate for Kazakh products and capitals to the European Union, says Economy Minister Mihai Tudose

Romania could consolidate its role of entry gate for Kazakh products and capitals to the European Union, the Economy, Trade and Tourism Minister Mihai Tudose and Kazakhstan’s Ambassador to Romania Daulet Batrashev concluded after their meeting on Friday.

A release of the Ministry of Economy, Trade and Tourism (MECT) informed Agerpres that the two officials analysed the state of the bilateral economic cooperation and highlighted other topics to be discussed by the Romania-Kazakhstan Joint Intergovernmental Committee for Economic Collaboration in Bucharest, in May.

“The growth and diversification of bilateral trade are a permanent interest of the Romanian and Kazakh authorities; the two officials consider that the business environment should be boosted in both countries to identify new opportunities to generate an increase of the merchandise flows. Thus, Romania could consolidate its role of entry gate for Kazakh products and capitals to the European Union. Within this context, the Kazakh ambassador underscored Romania’s experience in the production of oil industry equipment and machines demanded by the Kazakh economy,” reads the MECT’s release.

The talks stressed the role of mutual investments in both economies – a field insufficiently exploited, where contacts between potential investors should be enhanced for growth purposes.

The total volume of the Romania-Kazakhstan trade was 3.167 billion dollars in 2014, up 30.16 percent form 2013. Romania has a balance deficit resulting from exports worth 84.35 million dollars (up 60.39 percent) and imports amounting to 3.079 billion dollars (up 29.37 percent). Imports from Kazakhstan consist mainly of oil.

 

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