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Bucharest
April 16, 2021
BUSINESS

Romania – Republic of Korea Industrial Cooperation Committee

Florin Vodita, secretary of state within the Economy Ministry, is in the Republic of Korea on May 9-15 for a series of meetings with government officials and representatives of the Korean business sector. The action comes on the margins of the 8th session of the Romania – Republic of Korea Industrial Cooperation Committee, a form of bilateral dialogue organized annually by the Romanian Economy, Commerce and Tourism Ministry and the Korean Ministry of Commerce, Industry and Energy. The Romanian Economy Ministry delegation includes specialists in international trade and international relations, industrial policies, energy, oil and natural gas, as well as representatives from the Energy Ministry, the Department for Foreign Investment and Public-Private Partnerships and from large Romanian energy companies. Major cooperation and investment projects of national interests as well as ways of boosting and diversifying relations at the level of SMEs are being analyzed on this occasion.

On May 11 the Romanian delegation took part in a Business Forum in Seoul, an event attended by 25 Korean companies members of the Korean Importers’ Association (KOIMA), the co-organizer of the event. In the following period, meetings and talks will take place with Korea Gas Corporation and Daewoo Shipbuilding and Marine Engineering. Likewise, a business conference will be organized in Busan on May 14, an event which the Korean companies members of the Busan Chamber of Commerce and Industry and of the European Union Chamber of Commerce in the Republic of Korea are invited to attend.

According to Romania’s National Statistics Institute (INS), in 2014 the total volume of Romania -Republic of Korea trade reached USD 1,037.5 M, down 7.3 per cent year-on-year, a downward trend caused exclusively by the 32.5 per cent drop in Romanian exports which reached USD 412.4 M. Nevertheless, even in these conditions South Korea has maintained its second place in the table of the biggest Asian markets for Romanian exports.

 

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