Sunday, August 31, 2008

Romania in efforts to curb trade imbalance with Turkey

Romania is making efforts with the view to offset the country's almost one billion euro imbalance in the Romanian-Turkish trade, according to a statement released by the Romanian Chamber of Commerce and Trade in Bucharest (CCIB).

The CCIB's statement released on Aug. 20 said, the CCIB take steps with the Embassy of Turkey for the establishment of connections with the chamber system to facilitate an increase in the volume of Romanian goods sold on the Turkish market. The chamber is also proposed to for greater diversification of Romanian products, with an emphasis on goods with high tax added value. Even with a 30 percent annual increase in Romanian-Turkish trade, the difference of almost one billion euros between imports and exports, which does not favor Romania, is also seen as a factor that could damage bilateral relations between the two countries.

The representatives of the management of the CCIB met with the economic adviser of the Turkish Embassy in Bucharest, Necati Ylmaz, to obtain assistance in contacting the chambers of commerce from Turkey’s main economic and commercial centers, financiarul.ro reported.

The CCIB said it would support Turkey in identifying the main exporters from Bucharest, the report also said. The two sides also agreed to a possible cooperation between Turkish and Romania companies on third markets, especially in ex-Soviet markets, the report added.

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