The Dubai Chamber receives a Romanian economic delegation

The delegation met with businessmen from Dubai with the aim to promote the many business and investment opportunities available in Romania, and to investigate ways to consolidate and strengthen bilateral trade with Dubai in particular and the region in general.

"Dubai, with its pioneer economic experience and geographic situation could be an ideal economic partner of Romania regionally and internationally, and through Dubai's Trade relations and promising Markets and investments around the world we can assure the success of our partnership and stable friendship", commented H.E Abdul Rahman Saif Al Ghurair, the 1st Vice President of DCCI.

The delegation included representatives from the main commercial sectors in Romania such as investments, construction equipment, building materials, tyres, motor pumps, gardening appliances, timber, plastic and chemicals.

"This is a great opportunity for businessmen on both sides to benefit from the many opportunities available in our two countries" commented H.E Eugen Dumarescu. He added that Romania is a vital economic hub of Eastern Europe, with 22 million consumers within the Romanian borders. He highlighted that businessmen and investors can also have access to 55 million consumers in the region through Romania due to the free trade agreement, as 2/3 of foreign investments in the region are linked to Romania. The Minister also mentioned that Romania will sign the accession into the European Union Treaty at the beginning of next year which will mean that it will be even easier to trade with and invest in Romania.

"Everyone looks at Romania as the next centre for commercial and trade opportunities" he mentioned, explaining that Romania has a 5% Gross Domestic Product Growth which makes it a "champion" of economic growth in overall Europe, and it also means that the GDP in Romania is the same as that in the UAE.

H.E Eugen Dumarescu explained that they have already succeeded in attracting a lot of foreign investment within Europe, epecially from Italy which has more than 22,000 companies in Romania, and Greece which has traditional historical ties connections with Romania. But the Minister highlighted that it has been more difficult to achieve the same with the Middle East and Gulf region. He explained that through this visit to Dubai, they are hoping to consolidate and develop the trade relations with the UAE in general and the Emirate in particular, as "we realize that Dubai will provide us access to the Middle East and Gulf markets, and possibly even Asia, as the Emirate has achieved a vital position on the world's economic map, as the hub of the whole region".

Romania exports the highest number of timber to the UAE, and "IT could be the next biggest field for trade between us" the Minister said. As he explained that Information technology is the fastest growing sector in Romania, with 100 million pieces to be sold in the world.

The main message from the Romanian delegation to the businessmen of Dubai, was that Romania is main centre of Eastern Europe, and that anyone can establish a business or invest there, especially that they do not impose any limitations on foreign capital investments, and there are many opportunities for privatization made easily accessible by the government.