China, Romania set up strategic investment partnership of over EUR 118 M

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Five investment projects of Chinese companies in Romania, worth over EUR 118 million, were signed during China-CEE countries’ Ministerial Meeting on Promoting Trade and Economic Cooperation held on June 8th and 9th, in Ningbo, Zhejiang province, Ministry of Economy informs, Romanian Costin Borc, Deputy Prime Minister and minister of Economy attending the event.

Bilateral cooperation projects target the automotive, renewable energy, real estate and education.

Thus, the Chinese investors plan to build an auto parts factory in Brasov, the investment being estimated at EUR 45 million. It is also considering a project on car ornaments following an investment of USD 17.6 million, and building a 20 MW solar power plant for EUR 33 million in Romania.

At the same time, the Chinese want to invest EUR 23 million in developing real estate complexes in Bucharest and to develop a project for cooperation and experience exchange in education in Hunedoara County.

12 Romanian companies attended this year’s the 2nd of China-CEE countries’ Ministerial Meeting on Promoting Trade and Economic Cooperation.

“Today, Romania has a new law on public procurement, a law that clarifies and simplifies certain aspects. We hope that these legislative improvements to make more predictable the investment sector in Romania”, Costin Borc said during the conference.

According to him, trade between Romania and China reached last year to USD 3.8 billion, and in the first quarter of this year there was recorded a slight increase of 1.4 percent of Romanian products exports on the Chinese market.

In this context, Deputy Prime Minister spoke about the revival of the Economic Zone of the ‘Silk Road’

Ministerial officials and representatives from China and 16 European Countries attended the meeting to promote trade and economic cooperation.

“The 16+1 framework has become an import platform for the cooperation between China and the 16 CEE countries,” said Gao Hucheng, Chinese minister of commerce.

China wishes to connect China’s Belt and Road Initiative with the development strategies of CEE countries to achieve a win-win situation, Gao added.

The Ningbo Declaration was issued after the meeting, which highlights the cooperation between China and CEE countries in diverse fields, such as agricultural products, e-commerce, high technology and infrastructure construction.

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