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President Basescu recommends China and Turkey to Romanian exporters
Romanian President Traian Basescu advised the Romanian exporters to focus on other markets than the European Union as well, giving China, Turkey, the Arab or African countries as examples, as diversification is one of the solutions to level the balance of payments.
'2012 is a year when the Government must think about new measures to support the exporters, not only by the capitalization of Eximbank or CEC Bank. We have to come up with a set of realistic measures to help the exporters. I am glad for what is happening now, about the signs that start to come to surface in our relations with China. We have a higher figure of exports with China, but this is a market with an extraordinary openness. There are certain products for which the Chinese Government grants subsidies so as to be exported to Romania. This is a very important measure, a token from the Chinese Government following the talks held in the attempt to redress the balance of trade with China. Look at China's or at Turkey's market. The ground is ready so that we could export to Turkey, China, the Arab market, which is a little troubled, and the African market. We focused solely on a single market, the European Union. Diversification is one of the solutions to level the balance of payments,' Basescu said during the Gala of the National Association of the Romanian Exporters and Importers (ANEIR).
The Head of State said that reducing the current account deficit by increasing exports is a great achievement of the Romanian economy considering that the reduction of this deficit is even more important that reducing the budget deficit.
According to ANEIR data, Romania's exports over the first ten months of this year amounted to 37.6 billion euros, with 45 billion estimated by the end of the year. Romania's trade exchanges amounted to 100 billion euros in 2011, representing 77 percent of the GDP, Agerpres informs.