Romania has a lot to offer in areas such as agriculture, high-tech industry, IT and industrial production, Prime Minister Mihai Tudose said on Thursday at the opening of the Business Development Conference, an event organised as part of the US Trade Winds 2017.
“Romania is one of the proudest nations in the EU, today when we pride ourselves on the highest economic growth rate. We are proud of our partnership with the European Union and our partnership with NATO and of the 20th anniversary of Strategic Partnership with the United States of America. We have a great deal in Romania to offer from potential in the agricultural area to the extraordinary potential in the high-tech industry and IT, moving on to industrial production, where again we pride ourselves on an increase of 8 percent over the last year,” Tudose said.
He voiced conviction that the presence in Romania of some of the world-renowned US companies such as Ford, Raytheon, General Dynamics, Bell Helicopters, who have come, invested and transferred know-how is “a good example and a statement of the US business environment” to Romania.
“I think your efforts, the efforts of the Department of Commerce and the efforts of my colleagues in the Romanian Government will yield results, and I want to use this opportunity to extend my thanks to the US Embassy in Romania, to Mr Hans Klemm particularly; perhaps in ten more years we may gather to take stock, to gladly reminiscence about this major event in Romania’s economic life and its relations with the US, a stock-taking moment where we should be proud of what we have started doing today,” Tudose said.
According to a press statement by the Romanian Government, about 100 US companies have come to Bucharest and will have contacts with over 50 Romanian companies, an opportunity for them to develop joint projects.
Trade Winds is the largest trade promotion event organised annually by the US Department of Commerce, this year in its tenth edition.
Romania is the main destination for the trade mission October 16-24, which also goes to Bulgaria, Greece, Serbia and Croatia. Invited to attend the business forum in Bucharest are business officials and business people from across the region.
US Ambassador Klemm: Romania is US best ally and friend in the region
US Ambassador in Bucharest Hans Klemm stated on Thursday that the US doesn’t have a better ally and friend than Romania in the region and in order to attract US investors Romania must ensure a “predictable and transparent” business climate.
He delivered a speech, alongside Prime Minister Mihai Tudose in the opening of the Trade Winds Forum, which brings in Romania the most important trade mission of the US.
He said that the US doesn’t have any better ally and friend than Romania in this part of the world, and mentioned several areas in which the two countries collaborate.
He added that both countries collaborate very well in order to bring peace and security in this region, in the transatlantic community, fighting together on battlefields far away from Romania. Besides the military collaboration, the ambassador brought to mind the fight against corruption, terrorism, organised crime, human trafficking, as well as the collaboration in the intelligence area.
He stated that one of his mandate’s priorities in Bucharest is promoting democracy and strengthening democracy in institutions, and an important element in this regard is endorsing the fight against corruption – a fight that hugely developed over the past 15 years, a fight that the US President always admired and the US committed to endorse.
Referring to the economic dimension of the Romania-US partnership, Klemm highlighted that the choice to invest in a country belongs to the companies, but the best thing that Romania can do is in order to encourage the US companies to invest here is to ensure a positive climate, a transparent, predictable and stable one.
He pointed out that within Trade Winds a regional network of experts in the economic area will be established. Klemm revealed that Romania has the fastest economic growth in the EU and mentioned the memorandums signed between Romania’s Gov’t and the US companies that operate in the defence area – General Dynamics and Raytheon.
In his turn, Deputy Assistant Secretary for Europe of the US Department of Commerce Dale Tasharski talked about the opportunities in the region.
In his opinion, the middle class and emergent entrepreneurs make Southeast Europe stand out as destination for the US investors.
Iohannis: Romania must be country where success relates to fairness, performance, not favours, political connections
In a message to the Trade Winds event in Bucharest on Thursday, Romania’s President Klaus Iohannis underscored that it is time for Romania to become a consolidated market economy, “where success is based on fairness and performance, not on favours and political connections.”
Trade Winds has brought to Romania the most sizeable American trade mission ever.
“We have the strength and it is time for Romania to make the step beyond the minimal standards of a functioning market economy. It is time to become a consolidated market economy. Romania must become a country where success is based on fairness and performance, not on favours and political connections,” Iohannis added in his message delivered by presidential adviser Cosmin Marinescu at the beginning of the event.
In this regard, added Iohannis, Romania needs “to provide stability and economic policy predictability, to enhance the transparency and quality of the public administration, and to strongly invest in a modern, extended transport infrastructure.”
He went on to say that Romania shares the same values that are so defining for the United States: private property, economic freedom and the rule of law. “Prosperity comes together with these fundamental values, and economic freedom is the best solution for a free world.”
Iohannis also mentioned that in 2016, the Romanian economy had the largest growth rate in the European Union, and the forecasts are quite favourable.
He highlighted some of the sectors open to investors, adding that other sectors with great potential are the agriculture and the food industry, and “there is no better place to see the quality of our human capital than in the IT sector.”
The Romanian head of state also mentioned Romania’s having decided the allocation of 2 percent of its Gross Domestic Product (GDP) for defence spending.
“For the past 20 years, our Strategic Partnership with the United States has evolved into a very strong one. I am confident that, in this context, the United States of America will continue to be one of our most important friends and one of the top foreign investors in Romania.”