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'Korea - Romania Business Partnership 2016' Forum in Bucharest
Over 70 companies from Romania, Republic of Korea, Bulgaria and Croatia met on Monday at the 'Korea - Romania Business Partnership 2016' Forum to discuss new business opportunities.
The forum was organized by the commercial section of the Embassy of Korea in Bucharest - KOTRA, on the sidelines of the visit paid by Korean Deputy Minister of Economy Tae Hee Woo in Romania, April 17 to 19, 2016. The event was an opportunity for business milieu representatives to get acquainted with Romania and Korea's economic developments in order to increase investments on the two markets.
The Romanian and Korean officials tackled a number of topics related to cooperation in projects with European and international funding.
"I hope that this forum will be an important moment for increasing economic cooperation between the companies so that we do new projects together. We hope to find the best ways to capitalize on business opportunities in both countries," said Vlad Vasiliu, Secretary of State in the Ministry of Economy, Trade and Relations with Business Environment of Romania.
Participating in the Forum, in addition to Tae Hee Woo, was Jung Gwan KIM, vice president of KITA (Korea International Trade Association), as well as representatives of the Ministry of European Funds in Romania, the European Bank for Reconstruction and Development, and of the Romanian and Korean business milieus.
Romania was in 2015, the 18th-largest partner of the Republic of Korea among the EU countries in terms of exports and the 15th-largest one in terms of imports.
According to the Ministry of Economy, on December 31, 2015, the total trade volume between Romania and the Republic of Korea reached 897.56 million euros, of which Romanian exports to South Korea were worth 414.5 million euros, up by 34.19pct from 2014, while imports from the Republic of Korea were worth 483.06 million euros, up by 3.52pct compared to the same period a year earlier.
The program included also presentations of some Romanian IT, construction, consulting on environmental companies, followed by B2B meetings.
Representatives of 20 Korean companies, 47 Romanian ones but also of four Bulgarian and Croatian ones participated in the forum.