Minister Laufer: US-Romania bilateral trade to exceed this year a historic high of USD 3 bn

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Romania is an example in the region as regards the cooperation with US companies to develop strategic capabilities, including defense, cyber security, energy and IT, Minister of Business Environment, Trade and Entrepreneurship, Ilan Laufer stated, after meeting with the US Commerce Secretary Wilbur Ross, a press release informs.

The two officials had a meeting in Washington, whose central topic was the new historical peak in terms of trade between Romania and the US, as well as the intensification of the bilateral cooperation between the two countries.

”Romania is the most relevant example in Central and Eastern Europe, through the commitment showed to US in terms of transatlantic security, supporting US policy in this regard,” the release also reads.

photo source: imm.gov.ro
photo source: imm.gov.ro

In this context, Minister Laufer stated that Romania is “the most pro-American country in the EU and we support the leadearship and the importance of the US in the world”.

By allocating 2 percent of GDP for defense and targeting more than 40 percent of the defense budget for the acquisition of state-of-the-art military technology, the Romanian-American economic relations are going through the most important historical moment in 2017 and will exceed over USD 3 billion by the end of this year, which would represent a record bilateral trade volumes.

In his turn, Wilbur Ross particularly appreciated the results of the bilateral trade relationship in the first 10 months of this year, when the US exports increased by 30 percent, while the trade had increased by 10.5 percent to 17.5 percent from 2016, reaching USD 2.6 billion.

On this occasion, during the meeting, Ilan Laufer presented to Secretary Ross the concrete situation (not the official statistics) over the US ranking the 6th as the largest foreign investor in Romania, with a total invested of USD 8.4 billion and a presence of over 3,500 US companies in Romania, being in fact the largest non-EU investor in Romania.

US Commerce Secretary Wilbur Ross is due to visit Romania in 2018 at the invitation of Minister Laufer, the details will be set in the near future. In this context, Secretary Ross expressed his wish to attend the opening of the consulate that Romania is due to establish in Miami (Florida) early next year.

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