Secretary-General of the Organization for Economic Cooperation and Development (OECD), Mathias Cormann, hopes that Romania’s accession process to the OECD will go as swiftly as possible, showing that our country already respects numerous organization standards.
“I am not in the position to give you a detailed specific answer, but we hope it will go as swiftly as possible for as long as necessary. Romania already adheres to 53 OECD standards, (…) we know each other well, what will know happen is an (…) analysis by the technical committees of the OECD, which will review thoroughly all the policies and practices in Romania that we believe can be and should be improved. (…) It really depends on how the process evolves from here,” said Mathias Cormann, at the Victoria Governmental Palace, in a joint press conference with Prime Minister Nicolae Ciuca.
The OECD official mentioned that Romania should pay close attention to the areas identified in the report presented on the country’s economic problems.
Mathias Cormann emphasized that the OECD appreciates the support of the entire political spectrum for Romania’s aspirations to become a full member of the organization.
When asked if the trust of foreign investors coming to Romania might be affected, in the context of security problems at the border with Ukraine, the OECD Secretary General responded: “The geopolitical environment is always an important factor, there is no question, but that goes beyond the scope, I guess, of the OECD. Beyond agreeing with you that the point that you make is a valid point – that the geopolitical circumstances may have impact. Of course, Romania is entrenched in a number of very important structures – with the European Union and NATO – and all of that positions Romania very well.”
The OECD Secretary-General was on an official visit on Friday in Bucharest. He has had meetings with President Klaus Iohannis and Prime Minister Nicolae Ciuca and attended the launch event of the “Economic Survey of Romania” at the Victoria Governmental Palace.
The Secretary General of the Organization for Economic Co-operation and Development, Mathias Cormann, and Prime Minister Nicolae Ciuca attended the launch event of the OECD’s Economic Study for Romania on Friday. Mathias Cormann’s visit to Bucharest comes shortly after the decision of the OECD Council to give green light to the opening of negotiations for Romania’s accession to this intergovernmental forum.
The OECD Council decided on January 25, 2022 to take the first step in accession talks with Romania, in parallel with Argentina, Brazil, Bulgaria, Croatia and Peru. From now on, individual roadmaps will be prepared, which will set out the terms, conditions and accession process, provided that the respective countries confirm their adherence to the values, vision and priorities reflected in the OECD Vision Statement made on the occasion of its 60th anniversary, and in the 2021 declaration of the Ministerial Council.
The Inter-Ministerial Committee for Admission to the OECD validated, at its meeting on January 26, Romania’s commitment to the principles, values and standards of the organization, as they are strengthened and developed in the two documents adopted at the OECD Council meeting in Paris, last October.
Founded in 1961, the OECD plays an advisory role to the governments of countries with strong economic, social and governance policies. The 38 OECD member states together account for about 60% of the world economy, 70% of world trade and 20% of the world’s population.
PM Ciuca: Opening of negotiations to join the OECD is Romania’s most notable result after joining NATO and the EU
The opening of negotiations to join the Organization for Economic Co-operation and Development is Romania’s most notable result after joining NATO and the EU and will involve the recognition of the status of a functioning market economy and consolidated democracy, Prime Minister Nicolae Ciuca said.
“It is the first objective of the Government achieved in the short time since taking office. The opening of accession negotiations with the OECD is a success in itself. This attests to the importance that the Romanian state attaches to the strategic objectives of Romania’s foreign policy. It can rightly be considered the most notable result after joining NATO and the European Union, because it brings our country closer to a benchmark that will involve recognising the status of a functioning market economy and consolidated democracy. This decision of the OECD Council that we welcome and for which I thank Secretary-General Mathias Cormann for his support, is a new stage of a path that Romanians have chosen after the Revolution of December 1989, that of being part of the European Union, of being reliable allies in NATO and of laying the foundations for Romania’s development together with the most developed countries of the world,” Nicolae Ciuca told a joint press conference with the Secretary-General of the Organization for Economic Co-operation and Development, Mathias Cormann.
He said that the start of accession negotiations is “a stage success”, because Romania’s strategic objective is to obtain OECD membership.
“Romania is a country whose economic performance has increased in the 15 years since we are members of the European Union and which will capitalize on the reach of the almost EUR 30 billion for the economic recovery from the PNRR [National Recovery and Resilience Plan] and the almost EUR 50 billion in the new Multiannual Financial Framework,” the prime minister said.
He maintained that Romania’s Gross Domestic Product exceeded EUR 220 billion, compared to about EUR 98 billion in 2005.
PM Ciuca also said that Romania has the advantage of the principle of geographical diversity and “has proven its vocation as an actor who supports the anti-corruption and economic democratic reforms in our region”.
He added that the accession process will allow Romania to continue the necessary reforms and to capitalize on the advantages and benefits that will come from this process, from improving the country’s rating to attracting foreign investments.
President Iohannis: The fastest possible accession to the OECD is a priority to Romania
President Klaus Iohannis on Friday welcomed at the Cotroceni Presidential Palace the Secretary General of the Organisation for Economic Co-operation and Development (OECD), Mathias Cormann, on which occasion he underscored that the fastest possible accession to the OECD is a priority to Romania, according to a press release of the Presidential Administration.
During the discussion, the head of state welcomed the recent decision of the OECD Council regarding the expansion of the organisation, which paves the way for the start of negotiations on our country’s accession to the OECD, and thanked the Secretary General and the member states for their support.
President Klaus Iohannis said that the visit of the OECD Secretary General to Romania, the first since the announcement of this decision, is a clear political message in recognition of Romania’s efforts and commitment in this process of modernisation and consolidation.
“The President of Romania also pointed out that the decision of the OECD Council is a historic moment expected by the Romanian side, which confirms the commitments of our country in the sphere of the principles of democracy, market economy and multilateralism,” said the Presidential Administration in the same press release.
The long-term cooperation between Romania and the OECD was highlighted. In this context, President Iohannis reconfirmed the objective of continuing the close collaboration with the structures of the organisation, for the implementation of the necessary reforms and the promotion of a sustainable economic development for Romania. Among the areas of interest, the head of state mentioned the excellent collaboration with the OECD in the field of education, expressing confidence in the further development of cooperation on this important level, within the “Educated Romania” project.
In his turn, Mathias Cormann congratulated Romania for the favourable decision to open accession negotiations, showing that Romania is among the most active partners of the organisation. At the same time, in the perspective of the accession to the OECD, he expressed the readiness of the organisation to support the Romanian side in achieving the established objectives, of institutional consolidation and of economic and social development.
OECD Secretary General: Romania’s economic activity resumed last year, recovery continues
Romania has taken a comprehensive approach to managing the effects of the pandemic, with economic and social measures accounting for 3.6pct of the GDP in 2020 and 1.4pct of GDP in 2021, the Secretary General of the Organization for Economic Co-operation and Development (OECD), Mathias Cormann, on an official visit to Bucharest, said on Friday.
In this way, in the second quarter of last year, Romania’s GDP exceeded the level before the pandemic. Economic activity has resumed since last year, and the recovery continues. After the economic growth of 6.3pct of the GDP recorded in 2021, we estimate that Romania will have an economic growth of 4.5pct of the GDP, both in 2022 and in 2023, said the Secretary General of the OECD, according to a press release sent to AGERPRES by the Government.
In his opinion, Romania has made significant progress, managing to catch up quickly with the economies of the OECD countries, despite the global financial crisis of 2007-2008 and the pandemic crisis we are currently facing.
In 2019, before the outbreak of the pandemic, Romania saw a Gross Domestic Product per capita of 27,000 US dollars, 63pct of the OECD average – a significant increase compared to 30pct of the OECD average Romania reached in the early 2000s, Mathias Cormann explained.
On the same occasion, the high OECD official underscored that this progress can be further supported, including by implementing structural reforms associated with the implementation of the National Recovery and Resilience Plan, which will contribute to the country’s economic recovery through massive stimulus of public investment, according to the same source.
Cormann: Romania has one of the lowest vaccination rates in Europe
Romania has one of the lowest vaccination rates in the European Union, said on Friday the Secretary General of the Organization for Economic Co-operation and Development (OECD), Mathias Cormann.
In the context of his official visit to Bucharest, the Secretary General of the OECD participated, at the Victoria Palace, in the launch of the study “Economic Survey of Romania”.
Unfortunately, Romania has one of the lowest vaccination rates in the European Union, with only 41 pct of the population vaccinated with the full scheme. As the Omicron variant spreads, efforts to accelerate vaccination, especially in rural areas, must be an immediate priority. We understand the challenges, we understand the impact of misinformation by the anti-vaccine movement. Efforts to increase confidence in vaccination by providing information and connecting to communities that do not have access to services, fighting disinformation are really crucial. We suggest that Romania consider extending the implementation of the green certificate for more activities and maybe for certain professions, the OECD official said.
PM Ciuca: The “Economic Survey for Romania” developed together with OECD shows Romania’s firm commitment to join this global policy forum
The “Economic Survey for Romania” developed together with the Organization for Economic Cooperation and Development (OECD) shows Romania’s firm commitment to join this global policy forum and provides a multidimensional X-Ray picture of the country’s social and economic realities, while offering decision makers a set of extremely useful recommendations for measures capable of generating development and well-being on intelligent, sustainable and inclusive bases, Prime Minister Nicolae Ciuca said on Friday, as he welcomed OECD Secretary-General Mathias Cormann who came for the survey’s launch event, two days after the OECD Council vote to open accession talks with Romania.
The head of the government thanked the OECD top official for his efforts to unblock the expansion of the organization.
“We are aware of your essential role in the decision of the OECD Council and we thank you on behalf of Romania and of myself, personally,” said Nicolae Ciuca.
The Prime Minister mentioned that Romania immediately called the Inter-ministerial Committee for OECD Accession, which approved at its meeting on January 26 Romania’s adhering to the organization’s principles, values and standards, as affirmed and developed in the two OECD documents – “The OECD Vision Statement” and the “2021 Ministerial Council Statement”.
The head of the Executive stressed that, at this time, Romania is already adhering to 6 of the 8 essential standards for accession: the Investment Statement; the Principles of Corporate Governance; the Principles for Internet Policy Making; the Recommendation on Good Statistical Practice; the Inclusive Framework on BEPS – Base Erosion and Profit Shifting; the Global Forum for Transparency and Information Exchange.
According to the Prime Minister, in the coming months Romania will begin work to join the Liberalization Codes.
“Also, our country has already expressed its intention to accede to the OECD Anti-Bribery Convention. All these commitments translate into relevant reforms for the modernization of our country’s economy,” Nicolae Ciuca added.
The Prime Minister pointed out that the “Economic Survey for Romania” is among the projects our country is already developing together with the OECD, which shows its firm commitment in terms of joining the organization.
“The survey represents a multidimensional X-ray picture of Romania’s social and economic realities, providing decision makers with a set of extremely useful recommendations for those measures aimed at generating development and well-being on an intelligent, sustainable and inclusive basis. The first part is dedicated to key political perspectives, and includes a presentation of the macroeconomic situation and medium-term developments, with a special focus on the pandemic and its implications for the economy,” Ciuca said.
The head of the government added that the survey includes several references to Romania’s National Recovery and Resilience Plan approved by the European Commission in September, specifying that it focuses on areas where urgent investment is needed.
“The reforms and investments set forth in the plan will contribute to the development and modernization of the Romanian economy in areas such as: public finance sustainability, consolidation of public administration and resilience of the health system, ensuring social and territorial cohesion, digitisation of the public administration and many others. A series of recommendations in the survey find their response in the measures envisaged by the Romanian state in the National Recovery and Resilience Plan,” PM Ciuca explained.
FinMin Caciu: Ministry of Finance is currently involved in conducting two analyses with the OECD
The Ministry of Finance is currently involved in conducting two analyses with the Organisation for Economic Co-operation and Development (OECD), one on the Codes on deregulating capital movements and invisible current operations and the other on the application of the principles of corporate governance of public enterprises in Romania, Minister of Finance Adrian Caciu said on Friday at the end of the meeting with the Secretary General of the OECD, Mathias Cormann, according to a ministry’s release.
“I am pleased that today I received a positive opinion for adhering to the OECD recommendations on the principles of the Independent Fiscal Institutions. I am confident that in the next period we will make technical progress in this area with the Fiscal Council and the OECD. The Ministry of Finance is currently involved two analyses with the OECD, one on the Codes for deregulating capital movements and invisible current operations, and another on the application of the principles of corporate governance of public enterprises in Romania. Now we are waiting for the publication of the OECD report,” Adrian Caciu was quoted as saying.
The Minister of Finance and the Secretary General of the OECD discussed the OECD Economic Survey for Romania, this being the first meeting in the roadmap negotiations for Romania’s accession to the prestigious organization.
According to the Ministry of Finance, the talks focused on developments in the field of public finance, such as reducing the budget deficit and maintaining dedicated fiscal support, digitizing the tax administration, efficient implementation of public investment and governance of state-owned companies.
In his speech, Adrian Caciu underlined the maintenance of Romania’s commitment to return within the limits of the Stability and Growth Pact in 2024 and the gradual fiscal consolidation.
In addition, the Minister of Finance presented the measures adopted at national level, as well as those taken by the Ministry of Finance in the National Recovery and Resilience Plan, which will accelerate the continuous modernization of the tax administration, which will play a crucial role in improving tax collection.
Adrian Caciu mentioned that the Government’s priority is the efficient implementation of the public investments assumed in the 2022 budget, at the level of 6.7% of GDP, the highest allocation in recent years.
The talks were also attended by Alvaro Pereira, Director, Country Studies Directorate, Department of Economics, Andreas Schaal, Director of the OECD Secretariat for Global Relations and Sherpa G7 / G20, and Abby Symes, Special Adviser to the OECD Secretary-General.
On behalf of Romania, the meeting was also attended by Luca Niculescu, Ambassador Extraordinary and Plenipotentiary to the French Republic, and Cristian Stanica, President of the National Commission for Strategy and Forecast.
CNSP’s Stanica at the launch event of the “Economic Survey of Romania” conducted by the OECD: The OECD’s Economics Department has supported Romania’s efforts to identify measures and policy instruments that lead to sustainable economic growth
The convergence of national projection data and estimates of the Organization for Economic Cooperation and Development (OECD), as well as of other international institutions regarding Romania’s economic growth is visible both for 2021 and for this year, the president of the National Strategy and Prognosis Commission (CNSP) Cristian Stanica said on Friday at the launch event of the “Economic Survey of Romania” conducted by the OECD.
“The OECD’s Economics Department has supported Romania’s efforts to identify measures and policy instruments that lead to sustainable economic growth. We appreciate our country’s inclusion in OECD’s publications starting with the fall of 2019. The convergence of the national projections with the forecasts of the OECD and other international institutions in terms of economic growth is visible both in 2021 and for this year. OECD’s Economic and Development Review Committee examined the survey and agreed in general with the evaluation and recommendations of the report,” Stanica said.
“Another key element, particularly in analysis and forecasting, is ensuring access to the OECD database which contains important sets of social and economic statistics from member countries, which serve as the basis for in-depth top level surveys. Thus, Romania can benefit from an extensive documentation resource regarding the international evolution of macroeconomic indicators, with examples of best practices in other countries being an important pillar for Romania’s approach to OECD standards. Let me emphasize that, especially in the context of the implementation of the National Recovery and Resilience Plan, Romania aims to strengthen its administrative and institutional capacity and thus carry out technical assistance projects with a focus on macroeconomic, but also on microeconomic impact analyses,” said Cristian Stanica.
Compiled from Agerpres