BUSINESS

Commercial Diplomacy Chamber with Kingdom of Spain is established in Bucharest

The economic and commercial relations between Romania and Spain will also be promoted through the recently established Commercial Diplomacy Chamber with the Kingdom of Spain, an NGO that is aiming to also support the collaboration in tourism, agriculture, scientific research, healthcare, telecommunications, fight against corruption, intellectual property and consumers’ protection.

According to a release by the Union of Bilateral Trade Chambers of Romania, the new NGO is headquartered in Bucharest and starting with this fall, branches in Madrid and Barcelona will also be opened, and companies with Romanian and Spanish capital will be members.

“The setting up of the Commercial Diplomacy Chamber with the Kingdom of Spain is the answer to the necessity to represent and support efficiently the Romanian community in Spain in its relations and steps they take to the Spanish or Romanian institutions. It is, at the same time, a solution to promoting more visibly the Spanish business milieu interested to invest in Romania,” said Magdalena Patriche, secretary general of the Commercial Diplomacy Chamber with the Kingdom of Spain.

At end-2016, the total amount of the commercial exchanges of Romania with Spain reached EUR 3.564 billion, as Spain went up to 7th place in the rankings of the foreign investors, with direct investments worth EUR 1.707 billion. The Romanian exports to Spain attained EUR 1.72 billion, or 2.98 percent of total exports. The Spanish imports to Romania totaled EUR 1.834 billion or 2.73 percent of Romania’s imports.

The two countries are very well placed at the level of the Diaspora, considering that over one million Romanian nationals live and work in Spain, and the Spanish business milieu is represented in Romania by over 6,000 legal entities.

“The Commercial Diplomacy Chamber with the Kingdom of Spain is a solution adjusted to these troubled times, when the EU foundation has been weakened by the decision of Britain to leave the Union. Now more than ever we must be united in Europe and build viable economic alternatives,” said Nasty Marian Vladoiu, President of the Union of Bilateral Trade Chambers of Romania.

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