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President of Greece: The crisis should be an opportunity for strengthening cooperation between Greece and Romania

Greek banking institutions in Romania maintain their position on the market, thus showing their dynamism within an unfavorable environment, in a difficult period, said on Wednesday the President of the Hellenic Republic, Karolos Papoulias, on the occasion of Romania - Greece Business Forum.

'In the first quarter of 2011 there were increased Greek exports to Romania and vice versa. I emphasize that the Greek banking institutions in Romania keep their position, showing their dynamism within an unfavorable environment, in a difficult period. The crisis should be an opportunity for strengthening cooperation between Greece and Romania and between trading companies of the two countries ', said President Karolos Papoulias.

He also added that due to the Greek state and Greek investments in Romania over 25,000 jobs were created.

'In Romania, Greek investments contributed to national economy, by creating 25,000 jobs in banking, telecommunications, IT, food and beverage industry, construction sector. An important dimension of relations between Romania and Greece is given by tourism - a factor of rapprochement between the two countries' citizens. Although now there are adverse conditions, we exceeded one billion euros mark. '

The Delegation of Greece includes representatives of 24 Greek companies, which had a total of 400 business meetings during their stay in Romania.

Trade between Romania and Greece have increased by 30 percent in the first three months of 2011, compared to the same period of 2010, said Secretary of State in the Ministry of Economy, Trade and Business Environment, Claudiu Stafie.

'Romanian exports rose by over 28 percent compared with 2009, amounting to 37 billion euros. Foreign investments in Romania amounted to 9.5 billion euros in 2009 and to 3.5 billion euros in 2010. Trade between Romania and Greece have increased by 30 percent in the first three months of 2011, compared to same period last year, ' Stafie said.

On January 1, 2011 a number of 4,956 by companies, with a total share capital of 1.9 billion euros, were registered in Romania. Greece ranks 5th in the top of foreign investors in Romania, according to the Ministry of Economy.

'The energy market is important for South-East Europe. We have new investment projects in renewable energies, for reactors 3 and 4 of Cernavoda, and upgrading of the existing plants. Also, Greek investors can collaborate in projects in infrastructure, automotive, IT, pharmaceuticals, agriculture, tourism, building industrial parks, use of EU funds for projects in Romania, ' noted Claudiu Stafie.

Romanian exports to Greece advance 40 pct in first three months of 2011

The balance of trade in the Romanian-Greek commercial exchanges in the first three months of 2011 tipped in favour of Romania, with Romanian exports to Greece having advanced 40 percent, officer for economic affairs of the Greek embassy in Bucharest Ioannis Paschalis told a Romanian-Greek business forum.

Paschalis said the 40-percent rise in Romanian exports to Greece year-on-year was boosted by Dacia automobiles and Nokia products manufactured in Romania. Greek exports to Romania over the same period increased by 20 percent. He said given that commercial exchanges between Greece and Romania reached almost 1.1 billion euros in 2010, compared with 1.5 billion euros in 2008, there are clear signs of recovery. Greece is one of the biggest foreign investors in Romania, ranking 5th in the ranking of foreign investors, with direct investment of nearly 4 billion euros, according to data with the Greek Embassy.

Sursa: http://www.actmedia.eu

Tags: romania greece greek between euros percent romanian billion period their president first exports

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