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Bucharest
January 23, 2021
BUSINESS ECONOMY SUPPLEMENTS

Milan Peprník, Minister-Counsellor, Head of the Commercial and Economic Section, Embassy of the Czech Republic in Bucharest: Romania, a very attractive place for Czech companies

We have a strategic partnership and we are important partners and allies in EU and NATO. Czech Republic is a landlocked country in Central Europe and became a separate state in 1993 after Czechoslovakia split into two countries. The history of our contacts reaches far back into history. The first verifiable documents of mutual commercial relations come from the Middle Ages, when the Czech Kings took active interest in events in the areas of what is today’s Romania. Since the birth of the Czech Republic in 1993 our two countries have enjoyed a fruitful cooperation which extends for many areas.

 

Romania is a very important economic partner for Czechia. We have a long history of successful and dynamic economic cooperation. The bilateral relations are very intensive, particularly in the economic and cultural fields. The commercial links are the key drive, which increasing interest from business communities on both sides. Due to this strong collaboration, we have a rich record of some recent successful stories. Economically, there is a very positive trend in the bilateral relationship, because both the presence of Czech companies in Romania and also the volume of trade between our countries are rising. In 2015, the trade figures were as follows: exports reached 1.79 billion EUR and imports 1.53 billion EUR. The Czech Republic ranks the 14th in the top 20 foreign investors in Romania. Czech-Romanian partnership still has much potential for ever closer relations, as bilateral economic partners and friends within the European Union. The economy in Romania is continuously developing in a positive way and strengthening the trust of Czech investors.

 

The Czech investments in Romania are quite considerable; the biggest Czech investment in Romania represents government-owned energy company ČEZ, which has always been a good example of a responsible investor in Romania. Among other recent investors we can mention the Green Gate office building in Bucharest built by S-Group holding, Penta, Renomia or PPF. In general Czech business community appreciates Romania as a large internal market, with relatively low labor costs, low taxes and favorable geographical location as the gateway to the entire region of Balkans, Turkey, Asia, and North Africa. Apart from the production sector, in Romania exist also potential in the fields of GreenTech, environment, energy, agriculture, food industry, but also in the ITC sector and in Smart city´s technologies. And what is very important that the number of Czech tourists is constantly increasing too.

 

The potential for development of economic and trade relations between our countries presents a wide spectrum of interest. The Czech Republic will remain Romania´s very important trade and investment partner also in the next future. On local market these days there are operating more than 800 Czech companies. Czech companies are present in a variety of sectors and, in general, can offer services and experience in infrastructure, public transport, railways, also in the field of sewage water and water treatment, agriculture, renewable energy, retail, food, pharma and health sector. As we mentioned our mutual economic and commercial relations like our production have in Romania a long tradition. Many Czech products are known here. As there are several tens of thousands of products made in the Czech Republic, the following selection can be nothing more than a brief list of the truly best-known, most important and most interesting products like Czech glass-making industry, branded porcelain, beer (Plzeňský Prazdroj and Pivovary Staropramen), herbal liquor Becherovka, Škoda cars or Baťa´s footwear.

 

In Romania, due to strategic geographic location together with the possibility of finding qualified managers, many foreign companies have already established here their regional headquarters offices for the Balkan Peninsula and/or South-Eastern European markets. Romania has also very beautiful landscapes, having numerous historical places and medieval towns. Therefore tourism from the Czech Republic is expected to develop here in the coming years.

 

Recent positive developments in our bilateral trade relations help also CzechTrade Office in Bucharest and in 2007 founded the Czech-Romanian Bilateral Chamber of Commerce and Industry in Prague. CzechTrade Office is operating under the auspices of the Embassy of the Czech Republic in Bucharest and offers its services to Czech and Romanian companies. The ultimate goal of the office is to concentrate on the B2B sector and promote further interactions between companies from both countries. The Embassy of the Czech Republic in Bucharest besides the excellent long-term cooperation with the Chamber of Commerce and Industry of Romania, personally with the president Mihai Daraban, promotes its activities also with Czech Center in Bucharest, Honorary Consulate in Timisoara, Embassy of Romania in Prague, Romanian clusters, industrial parks, and many other institutions.

 

 

 

 

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