Ştefan-Radu Oprea, Minister for Business Environment, Commerce and Entrepreneurship, attended several events to promote Romania’s commercial interests in Shanghai on Monday and Tuesday, at China International Import Expo, the first international trade fair dedicated solely to imports for the Chinese market.
After Monday’s opening ceremony, Minister Oprea met H.E. Baoxiang, the vice-governor of Hunan Province, on Tuesday. At the meeting, a Memorandum of Understanding on Investment was signed between the Hunan Province Department of Commerce and the Ministry for Business Environment, Commerce and Entrepreneurship. Following discussions, it was agreed to maintain the pace of bilateral trade growth and to establish partnerships in the investment field, especially in infrastructure, agriculture and industry.
Minister Oprea presented the Romanian exports potential, the investment opportunities in Romania, and the relevance of Constanta harbor for EU-China trade.
He Baoxiang pointed out the current very good bilateral relations and expressed his readiness to increase imports from Romania. The context is a favorable one after President Xi Jinping announced, on Monday, the opening of the People’s Republic of China to facilitate foreign firms’ access to the Chinese economy by cutting tariffs, increasing imports and supporting free world trade.
Ştefan-Radu Oprea also attended a discussion panel at China International Import Expo on Tuesday, where he spoke about Romania’s trade priorities during Romania’s presidency of the European Union Council. Minister Oprea also had a meeting with an official Ningbo city delegation.
Ştefan-Radu Oprea will participate in promoting events under the relationship with Fengxiang and Liaoning provinces on Wednesday. The Romanian minister is in Shanghai from 4 to 8 November, following the official visit to Beijing from 31 October to 4 November.
In the first half of this year, the trade volume between Hunan Province and Romania was of USD 22.55 million, an annual increase of 112.59%. Imports totaled USD 12.57 million, an increase of 170.27%, while Romanian exports reached USD 9.98 million, namely an annual increase of 67.33%.
Hunan Province, located in southern China, has an area of 211,800 sq km and approximately 70 million inhabitants, being the leader in technology innovation with more than 100 universities. It is one of the most developed regions of China, its Gross Domestic Product of the province being over 500 billion USD.
Ministry for Business Environment, Commerce and Entrepreneurship