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March 7, 2021
ECONOMY INVESTMENTS

Premier Dacian Ciolos meets U.S. Administration representatives to consolidate economic partnership

During his visit to the U.S., Premier Dacian Ciolos had several meetings with U.S. Administration representatives involved in supporting and developing economic cooperation.

“The purpose of our meetings with representatives of the U.S. Administration is to build, apart from the security partnership, also an economic partnership based on closer cooperation. Romanian economy offers a series of opportunities for American investors in domains such as auto industry, IT, agriculture and energy sector, and the U.S. can be a partner much more involved and active on the local market, just like Romanian companies can be present to a larger extent on the American market,” Premier Ciolos stated.

According to a Government communiqué, in the first meeting, with U.S. Secretary for Agriculture Tom Vilsack, Romanian Premier and Agriculture Minister Achim Irimescu presented the opportunities that exist in the Romanian agriculture sector and the possibilities of cooperation with the American side. Romania has reinstituted all food safety conditions in order to be able to restart the exports of pork and other food products on the American market. Other talks concerned the effects that the Trans-Atlantic Trade and Investment Partnership will have on the bilateral plane.

In their meeting with Secretary for Commerce Penny Pritzker (photo), Premier Dacian Ciolos and the other members of the Romanian delegation emphasised the favourable moment the Romanian economy is going through, registering one of the highest economic growth rhythms in the region. One of the key talks focused on institutional cooperation between the two countries’ representative authorities in order to develop and consolidate good practice models in the SMEs domain. The American side expressed its full openness to encourage American companies to intensify their trade and investments in the context in which our country offers the business environment conditions of legislative stability and predictability. Likewise, new ways of encouraging the Romanian companies’ export capacities will be identified in the following period.

The third meeting with the representatives of the U.S. Administration entailed a constructive dialogue with Secretary for Energy Ernest Moniz. Premier Dacian Ciolos and Energy Minister Victor Grigorescu presented the structure of the Romanian energy sector, based on a mix of resources, and the strategy of attracting new technologies to tap into those resources. In this sense, the desire is to have Romanian institutes collaborating with American partners so that modern energy efficiency and environment protection solutions would be implemented for the correct use of existing resources. Also emphasised was the interest American companies have in the energy sector and the strategy through which Romania could become a veritable energy hub in the region.

During its visit to the U.S., the Romanian delegation led by Premier Dacian Ciolos met the representatives of several companies and business corporations present or interested in investing in Romania: Amerocap, Amgen, Coca Cola Company, ExxonMobil, Honeywell, Lockheed Martin, Medtronic, Parsons, Pifzer, Textron, Oracle, Cargill, Dow Chemical.

 

PM Ciolos says energy-focused talks in U.S. concerned offshore explorations, not shale gas

 

Romania’s Prime Minister Dacian Ciolos said Wednesday that his energy-focused conversations in the U.S. concerned offshore explorations, while shale gas was not mentioned.

“We have not discussed shale gas. There were surely discussions particularly about offshore gas explorations. There are American companies with such projects, and I encouraged them to continue their projects, discussing mainly the energy transmission infrastructure the Romanian Government intends to support, including a BRUA pipeline connecting the Black Sea to Europe via Bulgaria, Romania, Hungary and Austria, as well as other interconnection projects with neighbour countries, which again would generate certain advantages for the companies exploring the Black Sea for natural gas,” Ciolos told a news conference at the Romanian Embassy in Washington DC.

Ciolos added that if these capabilities are capitalised on, Romania could turn into an energy exporter in some years’ time, and then all the matters related to interconnections and transmission infrastructure become essential to the companies involved.

 

 Gov’t intends to come up with tax incentives for R&D investors

 

The Romanian Government is set to provide tax incentives to investors in research and development, Prime Minister Dacian Ciolos told a news conference at the Romanian Embassy in Washington DC on Wednesday.

He said he discussed the incentives with Ford executives he met in Detroit.

“I have encouraged the Ford corporation to come invest in Romania in research, development and innovation, not just in production, and informed them that the government I lead intends to come up with tax incentives for research and development, the same as it happened some years ago when Romania decided to scrap all rates and taxes for IT investors, which led to a massive development of the IT industry, and do so by the end of our term in office. (…) We want to do the same for research and development: attracting corporate investment for more than just production, for innovation as well, and this way using Romanian engineers and doing so that the investment environment in Romania may be as attractive as any other abroad,” said Ciolos.

He added that the Romanian Government is set to rescue or even entirely scrap rates and taxes on R&D investment.

 

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