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 Romania set to reach $10-bln bilateral trade target with Turkey

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Romania is set to reach the bilateral trade target of 10 bln US dollars with Turkey, compared to nearly 7 bln US dollars at the end of 2018, Minister for the Business Milieu, Commerce and Entrepreneurship Stefan Oprea told a Romania - Turkey business forum on Friday.

Oprea pointed out that Turkey is a strategic partner to Romania, its most important non-EU trade partner.

"The dynamics of the world economy invites us to capitalize at a faster pace on the opportunities created by the economies of our states, in conjunction with our geographical position. We aim to attain the $10-bln mark in bilateral trade, based on the political signal given at the October 2018 meeting of Prime Minister Viorica Dancila with President Recep Erdogan. We want to reach this goal while keeping an even trade balance. The volume of commercial exchanges was near 7 billion US dollars at the end of 2018," Oprea said.

He mentioned that the main fields of interest for Romanian business people in Turkey are energy and energy equipment, petrochemistry, household appliances, automotive components, rolling stock, the food industry, building materials and tourism.

There are 15,433 companies with Turkish capital in Romania, with a paid-in capital of 516 million euro, while direct Turkish investments amount to 520 million euro. Commercial exchanges between the two countries were 5.3 billion euro last year.

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