Business Focus on Romania, in partnership with the Embassy of Romania to the UK

Описание: In partnership with the Embassy of Romania to the United Kingdom, this webinar enabled delegates to discover more about Romania from a business perspective.

Speakers:

Bogdan Mihailescu, Diplomat, Head of Commercial & Economic Section, Embassy of Romania to the UK

Andrew Buglass, Honorary Consul of Romania

Romania is a NATO and EU Member State located in South East Europe, at the strategic crossroads of the European Union (EU), the Commonwealth of Independent States (CIS) and the Middle East.

With a population of 19 million, Romania is the 2nd largest country in CEE. In 2023, the total trade between the UK and Romania was £7.3 billion and total exports from the UK were £2.7 billion.

Romania is strategically positioned to play a vital role in the future reconstruction of its neighbour, Ukraine. As a key logistics and manufacturing hub, Romania significantly supports Ukraine’s economy, facilitating business operations and supply chains. It creates valuable opportunities for businesses interested in supplying Ukraine and participating in its rebuilding at the right moment.

Romania ranks as the European Union’s leading exporter of wheat and barley in the first two months of the marketing year 2024-2025, amid lower exports of the Union, according to the preliminary data published by the European Commission.

In 2023 Romania ranked:

1st in the EU by: Growth of IT services; Lowest levels of consumer price levels (60%); Number of certified IT specialists; Speed of Internet Connectivity (average download speed of 587 Mbps for fixed cable internet and an average upload speed of 548 Mbps); Lowest rental prices of prime office properties €234/ sq.m/year.

2nd in the EU by: Wind energy potential (7-17% of total electricity generation); Low labour cost (€11);

3rd in the EU for: Oil reserves (with 700 million barrels); Energy sovereignty (overall score: good)