Doing Business in Romania

EENI- School of International Business

Subject. Foreign Trade and Business in Romania - Bucharest. Syllabus:

1. Introduction to Romania (the European Union)
2. Doing Business in Bucharest
3. The Romanian Economy
4. The Romanian Foreign Trade
5. The Foreign Direct Investment (FDI) in Romania
6. Case Study: structure of marketing and sales promotion in the Romanian market
7. Access to the Romanian Market
8. Business Plan for Romania

The objectives of the subject “Doing Business in Romania” are the following:

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

Description of the Subject - Foreign Trade and Business in Romania

Romania (Europe)

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 millions of people, 9% of the population of Romania)
3. Area: 238,391 square kilometres
4. The Romanian Population: 20 millions of people
5. Government: Semi‑presidential Republic
6. Religion: Orthodoxy (Christianity)
7. Romania belongs to:
   1. The Economic Area of the Orthodox Civilisation
   2. The European Economic Area

The 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: 189,659 millions of 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 the mechanical industry
5. The Romanian industrial sector: 35% of GDP
6. The Romanian service sector: 55% of GDP
7. Currency: Romanian leu
8. Entry into the European Union: 1 January 2007

The Romanian Foreign Trade

1. Romania is one of the largest exporters of agricultural products 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. 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 the beneficiary of the Free trade agreements of the EU with Moldova, Colombia, Ukraine, Mexico, Georgia, South Korea, etc

International economic relations of Romania

1. European Union
2. European Bank for Reconstruction and Development
3. United Nations (NU)
4. Central European Initiative (CEI)
5. World Bank
6. International Bank for Reconstruction and Development
7. World Trade Organisation (WTO)
8. Economic Commission for Europe (UNECE)
9. Organisation of the Black Sea Economic Cooperation (Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey and Ukraine)
10. Asia-Europe Economic Meeting (ASEM)
11. Regional Cooperation Council
12. International Monetary Fund
13. Group of States of the Council of Europe Convention against the corruption (GRECO)
14. Council of the Baltic Sea States
15. Romania was part of the Central European Free Trade Association

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

Examples of the subject - Foreign Trade and Business in Romania: