Romania-China Economic Forum 2024: New Investment Opportunities and Strengthening Economic Partnerships between the Two States

Mr. Mihai Daraban, President of the Chamber of Commerce and Industry of Romania (CCIR), participated on Monday, July 1st, in the Romania-China Economic Forum organized by CCIR in collaboration with the China Council for the Promotion of International Trade (CCPIT) of Zhejiang Province.

The event took place during the visit of Vice Governor of Zhejiang Province, Mr. Xu Wenguang, accompanied by a delegation of representatives from renowned Chinese companies active in various sectors. The Romanian side was represented by 47 companies selected by CCIR in cooperation with the Brasov Chamber of Commerce and Industry (CCI Brasov).

During the forum, Mr. Mihai Daraban, President of CCIR, conducted a detailed analysis of the economic ties between Romania and Chinese partners.

“Bilateral relations between Romania and China are on a positive trend. Last year, trade amounted to 7.616 billion euros, with an additional 309 million euros in services. We intend to focus more on services in the future. Additionally, as of March 2024, Romania has registered 13,697 companies with Chinese capital, amounting to 357 million euros in subscribed capital. Furthermore, the National Bank of Romania recently announced a total of 307 million euros in Chinese direct investments in Romania. These figures highlight significant potential that should be capitalized upon through active involvement from both business communities,” stated Mihai Daraban.

Mr. Xu Wenguang, Vice Governor of Zhejiang Province, remarked: “I am proud to say that economically, Zhejiang Province ranks 4th in China. (…) In 2023, the trade volume between Zhejiang Province and Romania reached 2.3 billion dollars. By the end of last year, Romania had invested in 96 enterprises in China. Moreover, this year marks the 75th anniversary of bilateral relations between Romania and China, highlighting a history of collaboration and economic tradition.”

During the event, a memorandum of cooperation was signed between CCIR and CCPIT, strengthening the mutual interest of both parties in diversifying bilateral cooperation, promoting economic development, and enhancing commercial exchanges as a shared priority.