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Romanias New Strategic and Business Outlook Relevance and Opportunities for the RomanianU.S. Relatio

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Romania the second largest country in Central- Eastern Europe and the seven ... Acknowledges that Romania made overall good progress at the accession criteria ... – PowerPoint PPT presentation

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Title: Romanias New Strategic and Business Outlook Relevance and Opportunities for the RomanianU.S. Relatio


1
Romanias New Strategic and Business
OutlookRelevance and Opportunities for the
Romanian-U.S. Relations
2
Area 238,391 sq km Population 21,680,000 Count
ies 41 Romania the second largest country in
Central- Eastern Europe and the seven largest in
the future Europe of 27
Capital Bucharest - Area 228 sq.km. - Po
pulation 1.9 million
- Districts6
3
Main pillars of Romanias strategic profile
  • concluding the EU accession process
  • consolidating Romanias role within NATO
  • strengthening the strategic relations with the
    United States
  • promoting democracy, stability and security in
    the Black Sea region
  • supporting actively the international efforts for
    the final resolution of the conflicts in the
    Western Balkans

4
The Comprehensive Monitoring Report of the
European Commission on Romania (October, 2005)
  • Acknowledges that Romania made overall good
    progress at the accession criteria political,
    economic and the commitments and requirements
    arising from accession negotiations
  • Indicates that Romania is expected to be fully
    able of implementing the acquis by the time of
    accession at most acquis chapters
  • 9 out of the 11 areas outlined by the previous
    Report as liable to trigger the safeguard clause
    (accession postponement by one year) were
    removed the two remaining areas are the fight
    against corruption and border management
  • The Report on Romania is a predominantly positive
    assessment, which is appreciated by many as most
    likely the best Romania has had so far

5
The Romanian Economy in Figures
6
Imports and Exports
7
Cumulative FDI
8
Foreign Exchange Reserves
million
9
Exchange Rates LEI- and LEI-Euro 2001-2005
10
Investment Opportunities in Romania
  • Energy sector Romgaz, Distrigaz, Electrica
  • Banking privatization of Romanian Commercial
    Bank
  • IT highly skilled labor force
  • Tourism privatization and green-field
    investments

11
  • Main advantages of Romania
  • One of the largest markets in Central Eastern
    Europe
  • Attractive location at the conjunction of three
    important Pan-European corridors
  • Direct access to the Black Sea (Constanta port -
    the largest gateway for imports and exports)
  • Well-skilled and low cost labor force
  • Experience in the automotive sector as well as
    tires production
  • Low costs for utilities and land
  • Status of member to WTO, CEFTA, IMF, World Bank
    as well as UN, NATO.
  • Candidate member to EU (April 13 2005 signing
    of Accession Treaty 2007 target data
    for accession)
  • Free trade agreements with EU, Israel, Turkey,
    Moldova, Lithuania, Macedonia
  • MFN clause from USA on a permanent basis
  • Well developed network of telecommunication
  • Transport infrastructure on the process of
    rehabilitation and modernization

12
  • Guarantees and rights for foreign investors
  • foreign investment allowed in all sectors of
    economy
  • possibility to freely manage the company with
    full ownership rights
  • full repatriation of capital and profits
  • protection against expropriation and
    nationalization
  • national treatment for foreign investors

13
THE FISCAL REFORM IN ROMANIA Main provisions
  • Introduction of the 16 flat tax on personal
    income to replace the previous taxes which were
    varying between 18 and 40
  • Corporate tax reduced from 25 to 16
  • Increase of the tax on micro-companies turnover
    from 1.5 to 3
  • Fiscal deductions in favor of the less paid
    employees, set to decrease as wages increase.

14
THE FISCAL REFORM IN ROMANIA Impact on foreign
investments
  • Central-Eastern Europe has become a region of
    opportunity for foreign investors, out-performing
    the world economy and most of the emerging
    markets and attracting an increasing share of the
    global FDI.
  • As the experience of other CEE countries shows,
    the fiscal relaxation will increase Romanias
    comparative advantages in the regional and global
    competition for attracting a larger amount of FDI
    in export oriented and high value-added sectors.
  • FDI increase in Romania is essential for
    generating new jobs, technology transfer,
    increased competitiveness, increased exports and
    increased profits to be taxed.

15
PAN EUROPEAN CORRIDORS CROSSING ROMANIA
16
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17
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18
MAP of AIRPORTS and MARITIME PORTS IN ROMAN
IA
Giurgiu
19
Internet users
20
Evolution of number of PCs
21
Number of .ro domains
22
Number of IT companies
23
Number of mobile telephony subscribers
24
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25
US Business Success Stories in Romania
  • Qualcomm
  • Solectron
  • Oracle
  • Smithfield
  • Procter Gamble
  • Washington Group International
  • Timken
  • AIG
  • General Electric
  • Precision Castparts Corporation

26
Major US Investors in Romania
27
Bilateral Trade with the United States
28
Conclusions
  • One of the most dynamic economies in Central
    Eastern Europe
  • New frontier of business opportunities
  • US ally with strategic relevance at the Black
    Sea, Central Asia and the Caucasus as well as the
    Greater Middle East
  • NATOs eastern frontier with major role in the
    war against terrorism
  • Regional Leader in fighting trans-border crime
    and trafficking in person
  • Important role in strengthening the transatlantic
    relationship
  • Strong pro-American feelings, strong European
    identity

29
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