*20 American Companies Ready to do Business During U.S. Commerce Department Trade Mission
Prior to his visit to Bucharest, Bruce Andrews , Deputy Secretary of the U.S. Department of Commerce made the following statement on the significance of the U.S. Department of Commerce Cybersecurity Trade Mission to Romania:
“As I prepare to lead a U.S. Department of Commerce Cybersecurity Trade Mission to Romania on May 11-13, I am enthusiastic about the opportunity to build bridges to the Romanian economy because the development of the country is important to the United States, and strengthening cybersecurity is a huge challenge that we face in this day and age.
During the mission, representatives from 20 U.S. businesses will pursue opportunities with current and potential Romanian partners and government organizations, many of which are looking to source or learn about the latest U.S. cybersecurity technologies, standards and best practices. Several companies participating in our trade mission have had been operating in Romania for decades.
The mission comes at an opportune time. Earlier this year, CERT-RO, the Romanian National Computer Security Incident Response Team, and national contact point on cybersecurity incidents, reported that in 2014, it received and processed over 78 million cybersecurity alerts affecting over 2.4 million unique intrusion prevention systems in Romania. More than 50 percent of alerts received involved misconfigured, insecure or vulnerable systems.
The damaging effects of cyber attacks are very real, and can be felt on many levels from businesses to individuals, often spilling across the porous borders of today’s global economy. These cybersecurity breaches cause significant financial losses each year to the economy. Every Romanian citizen whose salary is deposited directly into a bank account or pays a bill online can be victimized, and every institution is vulnerable to malicious cyber attacks that ultimately affect customers.
Romania is a strong market for U.S. technology due to its high interdependence of cyber infrastructure and sectors such as banking, transportation, energy, and national defense, all of which face ongoing cyber threats. The United States applauds Romania’s efforts in making critical infrastructure security a top policy priority through implementation of its Cybersecurity Strategy and the National Action Plan, and we look forward to continued dialogue with industry on the issue.
The growth of cyber attacks demands both cyber technology solutions, and the need for comprehensive industry and government best practices related to the cybersecurity framework. The solutions offered by the 20 U.S. companies on the mission: innovative hardware, software, and services technologies, will help make Romania and its citizens safer and more secure while helping grow the local economy.
During the mission, U.S. participants will meet one-on-one with Romanian businesses through meetings arranged by the U.S. Embassy, and hold discussions with national and regional government officials, chambers of commerce, and business groups on cyber related policies, tariff rates, incentives, regulations, and projects. A key focus will also include national critical infrastructure such as utilities and telecoms, and military and civil security. Romania continues to make great progress in this area through the creation of a Cybersecurity Innovation Center with assistance from the U.S. Trade and Development Agency and Fidelis Cybersecurity, and a Regional Cybercrime Training Center for the Romanian Police.
Many American companies on the trade mission will share their latest best practices experiences with Romanian businesses and government officials. We also expect to learn more about how Romania can work with the U.S. Department of Commerce, the Department’s National Institute of Standards and Technology (NIST) Cybersecurity Framework, and our companies to further leverage the collaborative work we’ve already done to manage cybersecurity risks.
Reflecting the growing importance of cybersecurity to the region, both economically and politically, the trade mission will coincide with a regional cybersecurity summit in Bucharest. The event, co-organized by the Romanian and U.S. governments with the participation of 11 countries in the region, is a further demonstration of Romania’s vision and leadership in fostering this conversation about regional collaboration on this critical subject.
The United States’ government and private sector are committed to helping Romania, a strategic and economic partner, strengthen its cyber defenses. With its growing economy, well-educated workforce, and affinity for Made in the USA products and services, U.S. companies are increasingly looking to Romania as a place to do business. As trade mission participants prepare for the mission, we look forward to exploring new business opportunities”.