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Great Britain hopes to boost exports to Romania by 60% until 2017
The British government hopes that, in the next four years, exports to Romania will grow by 60% by setting up a business center that will offer British companies access and better exposition in the Romanian market. The Romanian-British Business Center was set up by the British Embassy and the British-Romanian Chamber of Commerce. As part of the project, the British Embassy will give the bilateral Chamber of Commerce a grant of 200,000 euro.
Martin Harris, the British ambassador, said it was a step forward in the support granted to economic relations between Romania and Great Britain. It is part of a project including 20 priority markets in the whole world. Support will be granted to British companies in markets like Mexico, Russia, India, Brazil. In Europe two priority countries were selected for support in commercial relations – Poland and Romania. The ambassador hopes British investments in Romania will grow and bilateral relations between the two countries will develop.
He added that the measure also had in view to facilitate access of British companies willing to invest and have commercial relations in Romania.Present at the signing of the document setting up the business center, Edward Davey, the British Secretary of State for Energy and Climate Change showed that Romania has huge potential in the field of energy and might attract British investments and expertise.
There are 4,300 companies with British capital in Romania and Great Britain is the 11th investor in the local market with 4.6 billion euro.The fields where companies with British capital activate are consulting in infrastructure, energy, IT, agriculture, auto, financial and legal services, engineering, etc.
At the end of 2012 bilateral exchanges Romania-Great Britain amounted to 2.9 billion euro, on the rise from 2.7 billion euro in 2011. British exports to Romania amounted to 1.6 billion euro last year, while imports from Romania were 1.3 billion euro.
British investments represent 27% of the flow attracted by Romania in the first half of 2013.