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Bucharest
November 18, 2019
DIPLOMACY ECONOMY SUPPLEMENTS

Greece and Romania have excellent economic and trade relations. The two countries are moving towards an even closer economic cooperation

The economic and trade relations between Greece and Romania have proved to be excellent over the years. Due to the geographical proximity, cultural and historical ties, excellent political relations, and EU membership for both, Greece and Romania are moving towards an even closer economic cooperation.

Bilateral Trade on the rise

In 2018 the bilateral trade between our two countries amounted to € 1,941 billions. Greek exports to Romania valued € 967.79 million, which corresponds to an annual increase of 10,62%, while imports from Romania to Greece valued € 973.58 million, 8,05% higher than in 2017.

Romania ranks 17th among the suppliers of the Greek market and 12th in the list of the Greek export markets. The present state of bilateral trade does not reflect the actual potential for trade development and we have every reason to expect substantial increase in the years to come.

The main products exported from Greece to Romania are toys, copper and iron bars, plastic items, pharmaceuticals, cosmetics and foodstuffs like olives, olive oil, feta cheese, marmalades, pasta and rice. In 2018 the product group “fruits and vegetables” – oranges, kiwis, peaches, strawberries, water melons etc.- represented the value of € 115 million.

The direct contact of Romanians with the Greek cuisine during their holidays has also contributed to the wide acceptance of Greek agricultural and dairy products in the Romanian market.

Finally, Greek fashion brands such as shoes, clothes and jewelry have a distinguished presence in the Romanian market.

Greek Investments in Romania

In the last ten years Romania has become an important destination for Greek investments. In the end of 2018, Greece ranked 9th among the countries – investors in Romania, with 7.332 companies registered at the Commercial Registry of the country. 334 new companies of Greek interest were set up. The stock of Greek investments reached the value of 1,3 billion Euros (ONRC) which represents 3,01% of the total.

Greek investments cover a wide range of sectors: banking sector (Alpha Bank, Marfin Bank), food and beverages  (Chipita, Olympos Dairy, Ifantis, KB Karamolegos, Best Foods, Coca-Cola HBC, Alexandrion Group, Valvis Holding etc.), wholesale, retail and distribution networks  (Genco Trade, Elgeka Ferfelis, Sarantis, Jumbo etc.), production of metal products (ICME-ECAB, Alumil, Etem, Siderom etc.), building materials (Black Sea Suppliers, Isomat,  Atlas Corporation etc.), health services and equipment (Medsana, Sofmedica, Euromedics, Imedica, Cytogenomic etc.),  agriculture and livestock (Fatrom, Minco etc.), consulting and legal services (ICAP, TPG Group, law firms Rokas, E. Navridis, Drakopoulos etc.) as well as construction companies (Aktor, Octagon etc).

 

 

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