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  ROMANIA  
 
  29/3/2006  
 

President invites Chinese businessmen to invest in Romania

 
After Romania’s accession to the EU Chinese investments would become internal players of community market. The first day of the high state visit in China paid by President Traian Basescu these days at the invitation of his Chinese counterpart Hu Jintao, was dedicated to the development of the economic relations between the two countries. In fact, the activities included on the President’s agenda focus much on the development of economic dimension of the relation between the two countries especially that, according to the President of Romania, the bilateral political relations, consolidated during 55 years, could also stimulate the development of the trade relations between the two countries.

“I can assure you that my statement regarding the priority China represents to Romania is not only a conjuncture statement. For us, the relation with China is a political and economic priority. I invite both the Romanian and the Chinese businessmen to do business together, because both states are capable to protect the investments and guarantee fair relations,” stated Traian Basescu, present in Shanghai at the opening of the Romanian-Chinese Economic Forum works, held in the biggest financial and commercial centre of China.

The head of the Romanian state invited the Chinese businessmen to participate in the development of investments in Romania, underlining in this matter the progress made by Romania in the last years, after the switch from a centralised to a functional economy, a market economy, which, after 16 years of transformations, has received all the rates of a competition economy. The President wanted to underline the advance taken by the Romanian banking system, in fact one of the peaks in economy’s development, an element which can guarantee the development of any society in advantageous conditions. “I would like you to treat this issue as an invitation to invest in Romania. Those who already made investments can tell you how suitable such an action is, of selling merchandise inside the space of the European Union,” said the President.

As regards to the measures taken by EU over the last years to protect the community market against the assault of the Chinese products obtained at much lower direct production costs because of the cheap labour force used in the manufacturing process, Basescu showed that Romania approves the set of measures, on the other hand suggesting the Chinese businessmen a solution in solving this issue, namely direct investments in Romania, which will become in the future businesses inside the European Union.

“I allow myself to suggest to businessmen, companies from China, to make direct investments in Romania, as they become investments in the EURopean Union,” he said.

A similar business forum will take place today in Beijing, where Traian Basescu is expected to address the same invitation of investing as much as possible in Romania.

At the end of last year, Romania reported Chinese imports worth approx eur 1.5 bln, while the Romanian exports count for a third of the imports, i.e. eur 400 M. This obvious imbalance, on the background of a rather significant bilateral trade exchanges, namely eur 1.9 bln, with serious perspectives of development, was also the basis of the recommendation addressed by the President to the Chinese investors. “The imbalance is quite evident, thus, I would ask the community of the businessmen from Shanghai to focus on the Romanian economy field, so that the exports of Romania in China might increase,” said the President. In his speech, the President later switched from the general framework of the bilateral relation to particular cases, namely the twinning relation between Shanghai and Constanta (the President’s city of origin), and Basescu encouraged the Chinese businessmen to develop the relations between the two communities, and also to visit the Romanian seaside.

Also President Basescu visited the city planning centre of Shanghai.
President Basescu arrived in Shanghai on a three-day visit to China. The Romanian-Chinese meeting in Shanghai was also attended by other members of the Romanian official delegation, among whom deputy premier Gheorghe Pogea, Presidential Counselor Theodor Stolojan, the president of Romania’s Chamber of Commerce and Industry, Victor Babiuc.

 
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