German companies can invest in Romaniaaa‚¬a„¢s energy and transportation sectors, says Traian Basescu

Newsroom 11/11/2011 | 15:41

President Traian Basescu met with German Chancellor Angela Merkel yesterday during an official visit organized in Germany. Basescu also participated at the conference “Germany and Romania” partners in Europe, where Romanian representatives pitched privatization projects to German companies.

Basescu stated that Romania should start privatization initiatives in the energy and transportation sectors. The coal energy complexes are currently running on low yields and are heavy polluters, and Germany has the technology to produce energy from coal sources explained the president. Basescu invited German companies to look at privatization offers in the electricity production sector.

The Romanian president also acknowledged Germany’s tradition in the rail transportation, and invited German companies to look into CFR Marfa, the national rail freight operator, that is up for sale.

Romania is lagging behind in the processing of agricultural products, as the agricultural production has reached values similar to Western countries. According to Traian Basescu, Romania is also attractive for tourism investments. Romania still has 30 percent of virgin forests.

“I am suprised that we don’t have any German banks in Romania. Of course, we are benefiting from Greek, Austrian, Italian, French, but we would also like a German bank if possible”, commented Traian Basescu, during the conference organized at Deutsche Bank headquarters.

Basescu reiterated that Romania will pursue all the neccesary reforms to enter the Euro zone by 2015.
Trade between Germany and Romania totaled EUR 14 billion in 2010, without major deficits on any side. This year, trade has registered increases between 18 percent and 30 percent.

Ovidiu Posirca

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