Trade and Investment
Although now leaving the EU, the British government is placing renewed emphasis on growing trade and investment in all parts of the world. If some additional friction is likely in future trading relationships with the EU 27, the fundamentals of why a UK company might want to trade with or invest in Romania remain robust.
Romania is a large market, approximately 21 million people, and a nation growing in wealth. This increased spending power means greater export opportunity. With a growing Romanian population in the UK there are also markets here for products and services catering to their tastes and needs.
These are areas in which both local Chambers of Commerce and bilateral organisations like the British Romanian Chamber of Commerce can provide support to your business. Links to the relevant organisations in this Honorary Consulate territory are provided below, or contact me directly for an introduction.
At a more strategic level, Romania’s location on the Black Sea Coast, and as a crossroads between east and west, north and south, make it a promising destination for outsourcing or building new manufacturing facilities. Ford has a car plant in Craiova and a large automotive supply chain has flourished around it. The area around Cluj-Napoca is rapidly becoming a IT hub, with several venture capital funds now opening presence there to access local innovation. These are resources British companies can tap into.
Setting up a subsidiary within a member state also means the full advantages of the Single Market and Customs Union can be retained. Still a relatively low wage economy, and a place where English is the spoken with great fluency, Romania offers advantages important to any business, including possible access to EU funds.