Ştefan-Radu Oprea, Minister for Business Environment, Commerce and Entrepreneurship, is in China for an official visit whose main goals are to reduce the trade deficit and promote Romania as an investment destination.
Minister Oprea met today with Ren Hongbin, Deputy Minister of Commerce. The two signed the protocol of the XXVIIth Session of the Romanian-Chinese Inter-Government Economic Cooperation Committee, which sets out the guidelines for the bilateral cooperation until the next session.
Reducing trade deficit in the bilateral relationship was one of the issues raised by the Romanian party during the works of the Inter-government Commission. The two parties have set up a working group to improve trade relations. In this format, the barriers applied to Romania’s exports to China, with the goal of exceeding USD 1 billion in exports in 2019, will be assessed.
The main areas addressed were energy, infrastructure, information and communication technology, advanced technologies, environmental protection and tourism. Strengthening bilateral cooperation in the field of agriculture and Romanian exports of agro-food products on the Chinese market were the topics addressed during the talks between the dignitaries.
The People’s Republic of China occupies a priority position in Romania’s policy of developing relations with Asian countries, and it occupies the first place in the Asian area in commercial terms, both for export and import.
“We reported that the Romanian economy has the potential to support an accelerated growth of exports. We have also shown that the Romanian business-oriented government has taken a series of measures to create a friendly business climate, promoting equal and non-discriminatory treatment of all economic partners, regardless of their origin”, Oprea said.
Minister Oprea invited the Chinese official to Romania for the next session of the Committee, which is to be doubled by an economic forum attended by representatives of state and private companies.
The two parties appreciated economic cooperation in the context of the “Belt and Road” and the “European Union-China Connectivity Platform” initiatives, which provide a useful tool for increasing connectivity between Europe and Asia, under the principles of market economy, transparency and sustainability.
The visit to Beijing takes place from 1-4 November and also includes talks with officials of China’s Industrial and Commercial Bank (ICBC) and large companies to promote Public-Private Partnership projects. The 5th Meeting of the Romanian-Chinese Infrastructure Working Group, co-chaired by Gabriela Voicilă, State Secretary within the Ministry for Business Environment, Commerce and Entrepreneurship, was held on Thursday.
The total value of trade between Romania and the People’s Republic of China exceeded USD 4 billion in the first 8 months of 2018, of which USD 604.02 million were Romanian exports on the Chinese market (a 14.81% increase as compared to the previous year ) and USD 3.43 billion in imports from China (an increase by 26.31%).
Ministry for Business Environment, Commerce and Entrepreneurship