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MINISTRY OF ECONOMY AND COMMERCE Department for Foreign Trade. ROMANIA Member of the European Union ECONOMIC DEVELOPMENTS AND OPPORTUNITIES IN ROMANIA By Olgu ţ a Marian, director EU Directorate .

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Presentation Transcript
slide1

MINISTRY OF ECONOMY AND COMMERCE

Department for Foreign Trade

ROMANIA

Member of the European Union

ECONOMIC DEVELOPMENTS AND OPPORTUNITIES IN ROMANIA

By

Olguţa Marian, director

EU Directorate

romania member of eu as of january 1st 2007 changes of legislative and treaty nature
European Commission takes over the national authorities competence with regard to international trade

Common Customs Tariff

Integrated Tariff of the European Communities (TARIC)

Intra-community trade statistics (Intrastat)

Common defense trade policy

Free Trade Agreements concluded by EU and Stabilization and Association Agreements with West Balkan states

Tariff concessions extended by the EU to goods originating in developing countries (GSP)

Non-preferential Trade Agreements concluded by EU based on the Most Favored Nation Clause Treatment

Other commitments taken by the EU within the trade and cooperation fields

Romania – Member of EU as of January 1st, 2007Changes of legislative and treaty nature

Source : Ministry of Economy and Commerce

benefits of eu accession
Access to an extended market of more than 500 mill consumers for companies settled in Romania

Harmonization of capital market regulations, taxation, accounting rules => higher transparency and simplification

Simplified procedures in business administration when exporting to EU member states

Elimination of exchange risks and conversion charges when Romania will join the Euro zone

Benefits of EU Accession
macroeconomic performance trend
Macroeconomic Performance & Trend

Source: National Institute for Statistics, National Bank of Romania, National Committee for Prognoses (trend)

fdi annual inflows in romania 2001 2006 11 months
FDI Annual Inflows in Romania2001 – 2006 (11 months)

The first 11 month 2006 – 8,3 billion Euro

foreign direct investment
FOREIGN DIRECT INVESTMENT

Foreign direct investment by the investors’ origin country, at 30 November 2006

Source:National Trade Register Office

direct investment with significant impact on romanian economy by main fields in 2006
DIRECT INVESTMENT WITH SIGNIFICANT IMPACT ON ROMANIAN ECONOMY, BY MAIN FIELDS, IN 2006

Source: Romanian Agency for Foreign Investment

foreign investor rights
foreign investment allowed in all sectors of economy

possibility to freely manage the company with full ownership rights

full repatriation of capital and profits

protection against expropriation and nationalization

national treatment for foreign investors

Foreign Investor Rights
new investment law draft under public debate
Purpose

This law determines the principles and terms of stimulating investments in Romania that aim at contributing to a sound country development

This project fullycomplies with the EU legislation

The Government will issue also legal/administrative decisions in order to regulate the state aid schemes for eachaction aiming at contributing to law implementation

These Government decisions will set out the goals, objectives, timing, budgets, beneficiaries, eligibility and selection criteria and the competent authorities responsible to grant incentives

This Law will set up a Responsible Authority for implementing and monitoring the legal provisions

New Investment LawDraft under public debate
foreign trade in the period 2001 2006
FOREIGN TRADE, IN THE PERIOD 2001 – 2006

Source: National Institute of Statistics (www.insse.ro)

the structure of the romanian exports by main groups of products in 2006
THE STRUCTURE OF THE ROMANIAN EXPORTS, BY MAIN GROUPS OF PRODUCTS, IN 2006

Source: National Institute of Statistics (www.insse.ro)

the structure of the romanian imports by main groups of products in 2006
THE STRUCTURE OF THE ROMANIAN IMPORTS, BY MAIN GROUPS OF PRODUCTS, IN 2006

Source: National Institute of Statistics (www.insse.ro)

slide14

GEOGRAPHICAL ORIENTATION OF THE ROMANIAN EXPORTS, IN 2006

Source: National Institute of Statistics (www.insse.ro)

slide15

GEOGRAPHICAL ORIENTATION OF THE ROMANIAN IMPORTS, IN 2006

Source: National Institute of Statistics (www.insse.ro)

bil l ateral relations with ireland
Treatyconcerning the accession ofthe Republic of Bulgaria and Romaniato the European Union, signed in Luxembourg, April 2005

Convention for the Avoidance of Double Taxation, signed in October , 1999

Agreement regarding the Mutual Promotion and Protection of Investments, under negotiation

Billateral relations with Ireland
structure of the bilateral trade by main groups of products in 2006
Romanian Exports

Textile and leather products – 25,45 %

Equipment for railways infrastructure – 25,3 %

Machinery and electrical equipment – 20,58%

Romanian Imports

Chemical products – 49,6%

Machinery and electrical equipment – 40,16%

Agricultural and food products – 4,18%

STRUCTURE OF THE BILATERAL TRADE, BY MAIN GROUPS OF PRODUCTS, IN 2006
ir ish fdi s in romania
Ireland – ranking the 32nd among the foreign investors in Romania

The total Irishshare-capital registered in Romania - reaching 18,67 Euro mill.

441 companies with Irish share-capital in Romania

The main Irish investors :Pepsi-Cola International, Xerox LTD., Oracle

The main investing sectors are: IT, FMCG

Irish FDI’s in Romania
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TOP REASONS TO INVEST IN ROMANIA

  • STRONG MARKET POTENTIAL

2. FUNCTIONAL MARKET ECONOMY

3. HIGH SKILLED LABOR FORCE

4. COMPETITIVE TAX POLICY

5. SIGNIFICANT ECONOMIC GROWTH

potential sectors for investment
Manufacturing

Automotive parts

IT & Communication

Electric & Electronics

Wood processing

Energy sector

Construction materials

Textile

Food processing

Infrastructure

Outsourcing and logistics

Potential Sectors for Investment
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THANK YOU !

  • MINISTRY OF ECONOMY AND COMMERCE
          • Foreign Trade Department
          • Phone: +40 21 401 0513
          • Fax: +40 21 315 0086
          • E-mail: [email protected]
          • Website: www.dce.gov.ro
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