Trade and Business in Romania, Bucharest

The objectives of the subject “International Trade and Business in” Romania” are the following:

1. To analyze the Romanian Economy and Foreign Trade (Import, Export, FDI)
2. To know the business opportunities in the Romanian market
3. To analyze the trade relations of Romania with the country of the student
4. To know Romanian trade agreements as a member of the European Union (EU)
5. To develop a business plan for the Romanian Market

1. Transport Corridor Europe-Caucasus-Asia (TRACECA)
2. Pan-European Corridor IX (Finland-Russia-Greece)
3. Access to the Trans-Caspian Trade and Transit Corridor (Central Corridor)

Romanian Preferential Access and Free Trade Agreements

1. Romania and the Orthodox Economic Area / European Economic Area
2. European Union
   1. European Customs Union
   2. European Single Market
   3. EU Services Directive
   4. European Digital Single Market
   5. As a member of the European Union, Romania is a beneficiary of the EU Free trade agreements with Algeria, Ivory Coast, South Africa, Egypt, Jordan, Lebanon, Ukraine, Moldova, South Korea, India, Mexico, MERCOSUR, Chile, Georgia etc. besides the Customs Union with Turkey
3. Organization of the Black Sea Economic Cooperation (Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey and Ukraine)
4. Central European Initiative (CEI)
5. Council of the Baltic Sea States (CBSS)
6. Regional Cooperation Council (RCC)
7. Latin American Integration Association (ALADI) (observer)

Trade Facilitation Programs

1. World Trade Organization (WTO)
   1. WTO General Agreement on Trade in Services (GATS)
   2. WTO Agreement on the Application of Sanitary and Phytosanitary Measures (SPS)
   3. WTO Agreement on Technical Barriers to Trade (TBT)
   4. WTO Agreement on Preshipment Inspection (PSI)
   5. WTO Agreement on Safeguards (SG)
   6. WTO Trade Facilitation Agreement (TFA)
2. World Customs Organization (WCO)
   1. Revised Kyoto Convention (RKC)
3. International Convention on the Harmonization of Frontier Controls of Goods (UNECE)
4. Convention on the Carriage of Goods by Sea (Hamburg Rules, UN)
5. Organization for Cooperation between Railways (OSJD)
6. Convention concerning International Carriage by Rail (COTIF)
7. International Road Transport Union (IRU)
   1. TIR Convention
   2. Guidelines on Safe Load Securing for Road Transport
8. Uniform Rules concerning the Contract of International Carriage of Goods by Rail (CIM, CIT)
9. International Bureau of Containers and Intermodal Transport (BIC)
10. International Civil Aviation Organization (ICAO, Chicago Convention)
11. International Maritime Organization (IMO)
    1. International Convention for Safe Containers (CSC)
    2. Convention Relating to Temporary Admission (Istanbul Convention)
12. Customs Convention on Containers (CCC, UN)

European Trade and Economic Organizations

1. European Union
2. European Central Bank
3. European Investment Bank (EIB)
4. European Bank for Reconstruction and Development
5. EU-CELAC Summit
6. Group of States of the European Council Convention against Corruption (GRECO)
7. Economic Commission for Europe (UNECE)

Global Organizations

1. United Nations (UN)
   1. Conference on Trade and Development (UNCTAD)
   2. International Trade Centre (INTRACEN)
   3. Commission on International Trade Law (UNCITRAL)
   4. World Intellectual Property Organization (WIPO)
2. World Bank (WB)
3. World Trade Organization (WTO)
4. International Monetary Fund (IMF)
5. International Bank for Reconstruction and Development
6. Asia-Europe Meeting (ASEM)

Romania was a member of the Central European Free Trade Association

Romania is an observer country in the Latin American Integration Association (ALADI)

1. Romania is an Eastern European country, sharing borders with Ukraine, the Republic of Moldova, Bulgaria, Serbia and Hungary
2. The capital of Romania is Bucharest (2.5 million people, 9% of the population of Romania)
3. Area of Romania (Europe): 238,391 square kilometres
4. Romanian Population: 20 million people
5. Government of Romania: Semi‑presidential Republic

Religion in Romania: Orthodoxy (Christianity)

1. Romania belongs to:
   1. Orthodox Economic Area
   2. European Economic Area

Romanian Economy

1. Bucharest is the most economically and industrially developed city (21% of the Romanian gross domestic product and 25% of industrial production)
2. Nominal GDP of Romania: 189,659 million dollars
3. Romania has significant natural resources: petroleum, natural gas, coal, iron, copper and bauxite
4. The Romanian major industrial activities are metallurgy, petrochemicals and mechanical industry
5. Romanian industrial sector: 35% of the GDP
6. Romanian services sector: 55% of the GDP
7. Currency of Romania: Romanian leu
8. Entry into the European Union: 1 January 2007

Romanian Foreign Trade

1. Romania is one of the largest agricultural exporter of the European Union
2. The main trading partners of Romania are Germany, Italy, Russia, France and South Korea
3. Top Romanian Export Markets are Germany, Italy, France and Turkey
4. The main suppliers of Romania are Germany, Italy, Hungary, France, China and Russia
5. Romania attracted 21.8 billions of dollars in Foreign direct investment (FDI)
6. As a member of the European Union, Romania is a beneficiary of the EU Free trade agreements with Moldova, Colombia, Ukraine, Mexico, Georgia, South Korea, the ASEAN, Egypt, Jordan, Lebanon...

(c) EENI Global Business School (1995-2022)
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