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February 27, 2021

AOAR and ANEIR: Companies exporting to UK facing force majeure

The Romanian companies that have concluded export agreements to the UK and have to collect invoices now are confronted with an outstanding situation which can be regarded as force majeure, reads a joint press statement of the Association of Romanian Business People (AOAR) and the National Association of Exporters and Importers of Romania (ANEIR) released to Agerpres on Tuesday.
In this context, AOAR and ANEIR are asking the Government and Eximbank to ensure the urgent establishment of a legal mechanism securing partial recovery of their financial losses.
AOAR and ANEIR say the exports made by local companies, essential to ensuring trade balance equilibrium, are yielding minimum profit margins, which don’t allow in most cases supporting additional costs such as those generated by a 10-15 percent fluctuation in the pound/leu exchange rate, the fluctuations recorded on the international market these days.
‘AOAR and ANEIR are calling on Romania’s president and prime minister to propose and negotiate at the European Council meeting of June 28, 2016, and future meetings of the 27 EU member states, the expansion and additional funding of the Solidarity Fund for compensatory measures for the workers affected by the relocation of some companies following economic globalisation, taking into account the negative effects caused by the UK’s leaving the EU,’ the statement reads.
The two associations argue for the need for a fast commencement of nationwide official consultations with the participation of representatives from the Government, Central Bank, employers’ associations, trade unions, employers and trade association, other interested bodies of the civil society, consultations which would have to aim at an action plan valid in the short and medium-term, to provide solutions to the variety of problems that will be identified in the coming period.
AOAR and ANEIR tell the political decision-makers that the postponement of decision making could seriously affect the economic and social state of the country, as it could generate bankruptcies, business decline, job losses and others.

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