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Indian-Romanian economic cooperation to be based on IT, oil, gas, agriculture, metallurgy, maritime transport, shipbuilding


 The main development lines of an economic cooperation between India and Romania should have, at its basis, sectors such as IT, oil and gas, agriculture, metallurgy, automotive components industry, maritime transport and shipbuilding, Chamber of Commerce and Industry chairman (CCIR) Mihai Daraban said at the meeting with India's Ambassador to Romania Thanglura Darlong.

"We wish that the level of trade of goods and services between the two countries rise both through developing businesses, but also through diversifying them. The Romanian workforce currently records a certain deficit, and India could be an important source of qualified personnel," CCIR chairman maintained.

According to a press release sent on Friday, the Indian Ambassador to Romania said that 2018, the year which that marks 70 years of diplomatic relations between India and Romania, represents the perfect opportunity with regard to intensifying trade and business initiatives between the two states.

According to information provided by the National Trade Register Office (ONRC), in May 2018, there are 305 Indian companies operating in Romania, with a total capital worth 17.76 million euro. In 2017, the total value of trade recorded between India and Romania amounted to 571.39 million euro. 

Romania has exported mainly cars, machines and electrical equipment, with a share of 55.9 pct. At the same time, Indian imports targeted metal and metal products (25.1 percent), pharmaceutical and chemical products (22 percent), cars and machinery (14.2 percent), textile goods (8.4 percent), food products (6.7 percent), transport means and components (6.6 percent), plastic and rubber materials (5.4 pct).