Romania Travel Guide - Business

• GDP: US$84 billion (2006).
• Main imports: Machinery and equipment, fuels and minerals, chemicals, agricultural products, textiles and textile products.
• Main exports: Textiles and footwear, metals and metal products, machinery and equipment, minerals and fuels, chemicals.
• Main trade partners: Italy, Germany, Turkey, France and UK.

Since the 1989 revolution, successive governments have concentrated on turning Romania into a market economy. Progress has been difficult, hampered by a largely obsolete industrial base and a pattern of output unsuited to the country's needs. Since 2000, Romania has registered positive growth, thanks to strong demand in EU export markets (which account for 60% of trade) and strong domestic activity in construction, agriculture, and consumption. 

Although these gains have only just started to address Romania's widespread poverty and corruption and red tape continue to handicap the business environment, GDP increased by 6.4% in 2006, the strongest growth in the last decade. Inflation is 6.8% and official unemployment has fallen to 6.1%. The Romanian government carried out a currency revaluation in 2005. Romania joined the European Union on 1 January 2007, with the IMF praising the country's recent reform efforts.

A suit is essential at all business meetings and only on very hot days are shirtsleeves acceptable. English, German and French are used in business circles. Appointments are necessary and punctuality expected. Business cards are widely used. 

Office hours: Mon-Fri 0900-1530.

For information on conferences and conventions, contact the Romanian Convention Bureau.

The Chamber of Commerce and Industry of Romania
Bulevardul Octavian Goga 2, Sector 3, 030982 Bucharest, Romania
Tel: (21) 319 0114.
Website: www.ccir.ro

Romanian Convention Bureau
Calea Victoriei 118, 4th Floor, Suite 407, Sector 1, 70179 Bucharest, Romania
Tel: (21) 314 4100/2.
Website: www.conventionbureau.ro