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Seminar "Romania and Russia in search of new formats of cooperation"
Romania should be more open to bilateral trade cooperation with he Russian Federation, as the current volume of commodity exchanges between the two countries does not correspond to their potential, Alexander Vasilyevich Murychev, Executive Vice President of the Russian Union of Industrialists and Entrepreneurs, Chairman of the Council of the Association of Regional Banks of Russia told on Thursday the seminar titled "Romania and Russia in search of new formats of cooperation."
"The sanctions imposed by the European Union are not beneficial for any of the parties, nor for the bilateral economic relations. The commodity exchanges [of Russia] with the European Union, including with Romania, have greatly dropped in the last five years. But the drop of commodity exchanges with the EU has led to the tripling of those with China, amounting to 100 billion US dollars. We could cooperate far more with Romania, but there must be a mutual openness. The commodity exchange is not that high, does not correspond to Romania's economic potential," Vasilyevich told a conference dedicated to bilateral trade.
According to him, Russia is well represented in Romania, through companies such as Lukoil, OMV Petrom or TMK Artrom, but Romanian companies are no longer visible in bilateral trade. He specified there are already programs that can be proposed to Romanian companies.
"Russia is a country open to science, Russia is good in the field of technology, of nuclear energy. We have had a 40 percent increase in the cereal production and the economic indicators are good enough - low unemployment rate and inflation. We are open to the world and I invite everyone to be our partners," Vasilyevich Murychev said.
The current aspects of the economic cooperation between Romania and Russia were reviewed in the light of the opportunities offered by the Russian market to distributors and producers.
"Many Romanian construction companies offer construction services to Russian companies in Romania and have an excellent collaboration with them, but there is always room for more. We have been and we are optimistic, as entrepreneurs, that we can find ways to cooperate, to team up, to participate together in tenders in Romania, but also in the EU or even in the Russian Federation," Liviu Simion, vice president of UGIR Romania said
Commodity exchanges between Russia and Romania recorded a significant decrease in 2015 and 2016, but rose in 2017 and the advance in the first half of 2018 was over 20 percent, which shows a mutual interest, according to data presented by Iniushkin Igor, Minister-Counselor with the Russian Embassy. He said that Russia is interested in construction and repair works in Romania, in hydro power plants, but also in the nuclear field.
The Romanian-Russian Chamber of Economic and Cultural Cooperation, in partnership with the Bucharest University of Economic Studies, the Financial & Banking Association of Euro-Asian Cooperation and the Russian Union of Industrialists and Entrepreneurs organized the debate dedicated to the development of the Romanian-Russian financial and economic relations with the topic "Romania and Russia in search of new formats of cooperation."