Only 15 percent of Romanian exporters have domestic capital, says Minister Borc

Newsroom 08/04/2016 | 13:30

The key to stimulating exports is increasing the number of exporters, right now only 15 percent of Romanian firms in the field having domestic capital, according to Costin Borc, Minister of the Economy, as cited by Agerpres. “If we want to increase export, we have to grow those enterprises that can make exports, those enterprises that can compete on the single market,” said Borc.

Moreover, “we are 53rd worldwide in terms of exports and 17th in the European Union. Exports represent 30 percent of GDP,” he further added. The Minister also pointed out that of the 750,000 enterprises registered with the Trade Registry, 22,000 are exporters.

With 85 percent of Romanian exporting companies being local branches of foreign groups, “only 15 percent of exporters are enterprises with Romanian capital. There are only 50 companies with Romanian capital that have a turnover of over EUR 100 million. The key to enhancing exports is increasing the number of exporters,” added Borc.