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Romanian Reforms Bring Business Opportunities

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Media Release

MEDIA RELEASE

Department of Foreign Affairs and Trade

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The next session of the Australia-Romania Joint Commission (ARJC)
will be held in Sydney 1-2 May. The Commission brings together key
officials and business people from both sides with the objective of
promoting two-way trade and investment. The Romanian side will be led
by the Secretary of State for Communications, Mr Dumitru Moinescu.

The meeting is the first since elections held in Romania late last
year brought to power a new administration. The new government,
headed by Prime Minister Victor Ciorbea, has embarked upon an
ambitious reform program designed to open up and reinvigorate the
economy and to promote Romania as a destination for foreign
investment.

Until the change of government, Romania was lagging behind most of
the Central European countries in its efforts to make the transition
from a centrally-planned to a market economy and ultimately to
achieve membership of the European Union.

The Ciorbea Government has committed itself to reducing tariffs,
deregulation of foreign investment and acceleration of the
privatisation process. Although Romania is Australia's largest single
export market in Central and Eastern Europe, trade is concentrated in
a few traditional commodities. The reforms introduced by the new
government should sign)ficantly increase the scope to diversify
Australia's export profile.

Australian investment in Romania, which is estimated at $250
million, is also expected to grow as a result of the changes.

Areas of opportunity for Australian companies include: financial
services; agricultural technology and techniques; food processing,
packaging, storage and marketing; environmental technology; business
consulting services; quality management; private insurance; mining
equipment and technology; information technology; telecommunications;
tourism; land titling; and government services.

For further information: Jason Robertson on (06)
261 2974

Last Updated: 19 September 2014
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