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October 8, 2022

US Ambassador Klemm: Promoting economic prosperity for US and Romania, key priority

The Unites States Ambassador to Romania, Hans Klemm stated on Monday that promoting economic prosperity for both the United States and for Romania represents one of the key priorities for the two countries’ strategic partnership.

After the global financial crisis Romania has recovered and is currently enjoying a very strong economic growth, becoming more competitive, creating trade relations with the EU, receiving direct foreign investments and promoting macro-economic stability and reforms of the financial market. While Romania still has the possibility to improve competitiveness in infrastructure, education and the health care system, the development of the country is a certainty. In 2016, Romania’s growth stood at 59 percent of the GDP as compared to the European average. (…) Beside economic prosperity, Romania has also entered a new political framework through this Strategic Partnership with the US. (…) One of our key priorities is to promote economic prosperity for both the US and Romania, and our strategic Partnership is based on this commitment for the enhancement of economic opportunities. (…) The US and Romania have committed to respecting the democratic values, including here the rule of law, to have open markets and promote human rights and create strong bonds between all nations, the American Ambassador told the conference titled “About the world we live in” organised by the Romanian Athenaeum.

As for prosperity, a missed opportunity has been, for example, a bigger exchange between the movie industry in Romania and the US. Romania is competing with many other countries for American investments, the neighbouring countries respectively, but also with Ireland and with the states that make up the American nation. The Americans must decide whether they make investments in Romania or Alabama and this is how things stand in the movie industry, the American official maintained.

He also referred to globalization.

The United States commit, alongside industrialized democracies and other states which share the same viewpoints against economic aggression, wishing to modernise the current treaties, to counteract the incorrect trade practices, to counteract foreign corruption, to work with partners who think alike and to facilitate opportunities for new markets. Thus, the US want to work alongside trade partners and modernise the international trade system to everyone’s benefit. Fears of protectionist pressures seem an exaggerated reaction and despite this rhetoric, globalization has not met a serious opposing trend and even if that should happen, it would be a mistake to talk about its end, Hans Klemm stated.

He added that the world did not collapse economically after the big crisis in 1930 and this will not happen in 2020, either.

On the other hand, the American Ambassador affirmed that governments should have “a slightly more intrusive” reaction in regulating on-line platforms functioning, in the fake-news context.

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