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Volume of goods and services trade between Romania, Israel nearing 1B euro

The volume of products and services traded between Romania and Israel is nearing one billion euro, said, on Monday, the chair of the Chamber of Commerce and Industry of Romania (CCIR), Mihai Daraban, during a meeting with Israeli Ambassador, David Saranga.

"Between the two states there is a high level in what regards economic cooperation, Romania having registered over 8,000 companies with Israeli capital. Although the volume of products and services trade is nearing 1 billion euro, we all agree that the potential of the two states is far bigger. Only if we take into consideration the fact that, recently, natural gas reserves have been discovered in Israel, certainly we will be able to identify cooperation opportunities between the specialists in the energy domain in the two states. In this context, it becomes very important to know the dimension, the turnover and the interest on the Romanian market of Israeli companies," said Daraban.

For Israel, the economic cooperation with Romania represents a top priority. Thus, the dialogue between the representatives of the companies in the two states will have to intensify. The two states can develop intense relations in economic sectors such as: agriculture, water management, cyber-security, healthcare and digital solutions for healthcare, said Ambassador Saranga, recalling also that Israel is a leader in innovation and digitization, aspects that Romania can also take full advantage of.

According to a press release of the CCIR, sent on Monday to AGERPRES, the meeting between the two officials had as a main objective analyzing the status of economic cooperation between the two states, as well as identifying the optimum ways to consolidate bilateral economic relations.

The data of the National Office of the Trade Registry (ONRC) shows that the total volume of commercial exchanges Romania - Israel totaled 570.15 million euro, at the end of 2020.

At the level of March 2021, there were 8,298 Israeli companies in Romania, with a total value of subscribed capital of 64.05 million euro.