Turkey keeps close economic ties with Romania

Newsroom 09/04/2012 | 08:39

Business relationships between Turkey and Romania have remained resilient despite the tough economic climate and Turkish investors have more investment plans in store, mainly in agriculture and green energy, according to Omer Susli, president of the Association of Turkish Businesspeople in Romania (TIAD).

Last week, telecom company Euroweb Romania, majority-owned by Turk Telecom, announced investments of EUR 2 million in local infrastructure this year. Stuart Evers, CEO of Euroweb Romania, said local investments in telecom infrastructure will amount to EUR 10 million through to 2016.

“There is a homogenous distribution of Turkish investments in Romania, ranging from tourism to heavy industry, energy to agriculture, so there aren’t many sectors we haven’t covered,” Omer Susli, TIAD president, told BR. The most visible investments are in the banking sector and the media. TIAD currently has 143 members and the association represents around 2,000 Turkish companies in Romania.

Romania is currently supporting negotiations for Turkey’s EU accession.  “Turkey and Romania had a bilateral trade of USD 7 billion last year, a very good figure given the fact that we all faced the economic crisis,” Omur Solendil, Turkish ambassador in Romania, told BR.

Turkey was an economic champion in the region, posting an 8.5 percent growth in GDP last year, while Romania achieved 2.5 percent, but this hasn’t discouraged investors’ appetite for the country. “This year we are looking at agriculture and renewable energy, mainly wind and solar or hydro,” said Susli.

Companies with Turkish capital invested over EUR 2 billion in the Romanian economy during 2010, and had a combined turnover of EUR 5 billion. At end-September 2011, 12,388 companies with Turkish capital were registered in Romania. Turkey is Romania’s fourth biggest export and ninth biggest import partner.

Ovidiu Posirca

BR Magazine | Latest Issue

Download PDF: Business Review Magazine March (II) 2024 Issue

The March (II) 2024 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “BAT DBS Romania Hub: A Vibrant New Office For An Employee-Centric
Newsroom | 27/03/2024 | 17:32
Advertisement Advertisement
Close ×

We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

Accept & continue