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Romania’s new export strategy: oriented toward other markets able to press government for EU money
The companies’ orientation toward Russia, USA, China and Arab countries, setting up boards made of foreign consultants and company/bank managers exerting pressure on government to attract EU money and reorganizing diplomatic missions are suggestions from the Export Strategy 2014-2020.
The measures are seen as solutions to re-launch Romanian export, presently affected by low labour productivity, lack of business culture for marketing, uncoordinated economic government policies, excessive bureaucracy and corruption, according to the document drawn up by the Commerce Department of the Ministry of Economy in partnership with business representatives.
At present deliveries to EU states represent 70% of exports, while imports are 75% of total, according to INS data. EU evaluations about the competitiveness of member states includes Romania in group 4, with the lowest competitiveness, both for GDP/capita and for technological intensity, which brings out the substantial competitiveness difference Romania still has in EU economy. Other vulnerabilities with direct influence on export concern infrastructure, including harbour infrastructure, where Romania ranks 128th , and road infrastructure – 139th. Romania does not have a good stand in the collaboration between universities and business – 115th in the world, which practically reduces the development of export and innovation clusters.
Over 2007-2012, Romania registered an increase of the share of overall exports of GDP, from 29.3% to 40%, but it is still bellow the EU average (40.1%-44.7%). Structurally, machines, equipment and other manufactured products dominate Romania’s export portfolio with three quarters of total, while food represents 7.5%.