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Greek investments in Romania are standing at 3.5 billion euros, while trade between Greece and Romania stood at 1.4 billion euros in late 2008, Economic and Commercial Adviser with the Greek Embassy in Bucharest Ioannis Paschalis told a Romanian-Greek business forum on April 1.
'Data from Greece indicate that Greek investments in Romania have reached 3.5 billion euros so far. There are more then 4,500 Greek companies operating in Romania,' he said.
The Romanian National Companies Registry Office indicates that the volume of Greek investments in Romania is standing at only 760 million euros.
The Romanian National Companies Registry Office indicates that the volume of Greek investments in Romania is standing at only 760 million euros.
'The difference between the two sets of figures is given by the fact that many Greek companies are registered in countries such as Cyprus, wherefrom they conduct their foreign investments because the fiscal regime there is more advantageous to them,' Director of the European Community Directorate with the Romanian Ministry for Small and Medium-Sized Enterprises, Commerce and the Business Milieu Olguta Marian told.
'Romanian-Greek commercial exchanges were standing at 1.4 billion euros in late 2008. Romanian exports to Greece were worth 609 million euros and they were mainly electrical equipment and technological machineries. Greece's exports to Romania were worth 807 million euros and were mainly electrical equipment, plastics and chemicals,' said Mariana.
As far as foreign direct investment in Romania is concerned, official of the Romanian Agency for Foreign Investment Robert Donose says it is estimated to reach 4.5-5 billion euros in 2009. January 2009 FDI totalled 900 million euros, up 20 percept from the same month of the year before. 'The loan arrangement with the International Monterey Fund will positively influence FDI in Romania , depending on the economic developments in the European Union member states.
More than 80 percent of foreign investment in Romania comes from the EU,' Donose told Agerpres. Greek economic and commercial adviser Paschalis mentioned that Romania and Greece concluded an agreement in 2003 under which Greece pledged to provide funds toward the investment projects of the Greek Government and the Greek companies operating in Romania.
'The total value earmarked to Romania under the Greek Plan for Reconstruction in the Balkans is standing at 70 million euro throughout 2011. Nineteen Greek companies will be extended nearly 10 million euros to back up their investments in Romania.
Twenty-five million euros will be provided for the refurbishment of the central city of Targu Mures' Emergency Hospital, the eastern Iasi City's Pediatric Hospital and a museum in the Black Sea city of Constanta investment projects,' he said.
Other infrastructure projects in Romania targeted by the Greek Government for support are the areas of the country where there are Greek communities. For a discussion with the Romanian Government to this end, State Secretary with the Greek Foreign Affairs Ministry Mitliadis Varvitslotis will meet officials of the Romanian Finance Ministry and the Government in the next two days.
The business forum is unfolded in Bucharest City as part of a visit by a Greek business delegation which aim is to establish business contacts and explore avenues for developing business cooperation with companies located in Bucharest City.
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