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Trade Winds: US broadens economic cooperation base with Romania: most US companies coming to Bucharest are SMEs

de Adrian N Ionescu 22.10.2017

SMEs are the most numerous among the over 100 American companies participating in the Trade Winds mission launched in Bucharest by the US Department of Commerce.

Small and medium businesses join notorious names like IBM, Bell Helicopters, Raytheon, General Dynamics, Kestral, and Harris Corporation.

The middle class and emerging entrepreneurs make Southeast Europe stand out as a destination for US investors,” said Dale Tasharski, Deputy Assistant Secretary for Europe of the US Department of Commerce.

And, “Romania is the most powerful ally and friend of the United States in this part of the world,” said in his turn Hans Klemm, the US Ambassador to Bucharest.

The business areas of companies coming to Bucharest from 29 American states cover all industrial sectors, from software, hardware to space intelligence, military and medical equipment.

At the same time, over 50 Romanian companies are looking for collaboration opportunities on the same occasion, according to the Romanian Government’s information. Most of about 700 business-to-business contacts scheduled during Trade Winds will be concentrated in Romania. The mission will continue in Bulgaria, Croatia, Greece and Serbia.

“American companies are here to sell, of course, but also to start partnerships through joint venture projects that will continue the process,” says the official of a large American corporation.

Romanian offer

In Romania, US companies are particularly interested in the energy sector, the digitization of the economy, health sector, infrastructure, as well as e-commerce, according to Dale Tasharski.

“We have a lot to offer in Romania from a potential in the agricultural domain to the extraordinary potential in the high-tech industry, in IT,” said Prime Minister Mihai Tudose at the opening of the event.

Energy ranks first in the message sent by President Klaus Iohannis: “The energy field of our country has a great potential, which needs to be explored in an efficient way so that Romania’s contribution to the energy security in Central and Southern Europe to be strengthened.”

The Romanian and American officials have evoked the progress of the American presence in recent weeks through Ford, Raytheon and General Dynamics. The agreements concluded in Romania by these companies “are symbolic for the opportunities that open to companies interested to invest in this part of the world,” according to the US Ambassador Hans Klemm.

Challenges

However, the problems have been also mentioned, as “challenges”, including “the divergences of unnecessary regulatory standards,” according to the US Department of Commerce official, Dale Tasharski.

“The best thing Romania can do to encourage US companies to invest here is to ensure a positive, transparent, predictable, stable business climate,” said Hans Klemm.

At the same time, “we continue to encourage the democratic future of Romania, the democratic values and the consolidation of the institutions of democracy. And an important component is the strong support for the fight against corruption, an incredible struggle of the past 15 years that my president has applauded and which the US has pledged to support,” the US Ambassador added.

This year’s Trade Winds mission focused on the Southeast Europe’s potential, with its 60 million consumers, after it went last year in Chile and South Africa. Bucharest edition is the 10th and the program directly supports USD 240 million exports.

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