EximBank Romania fosters Romanian and Chinese investments

Bucharest, November 26, 2013 – EximBank Romania holds a privileged position with the Romanian business environment and the main Chinese financial institutions thus being able to support the efforts of local companies willing to strengthen their positioning on Chinese market as well as to stimulate Chinese companies investments in Romania, declared Traian Halalai, President of EximBank, during the Economic and Commercial Forum China – Central and Eastern Europe that took place in Bucharest.

”Romanian exporters are looking forward to extend their export destinations and the Chinese market represents a valid alternative offering extraordinary opportunities. Things have evolved in the good direction- during last years the Romanian exports toward China doubled their volumes but still the commercial deficit is high. We are deeply convinced that by using the support EximBank is providing Romanian companies are able to reduce this deficit and we also believe that the products portfolio that might be delivered on Chinese market may be expanded from agriculture and food products towards niche markets such as high technologies and software”, added the President of EximBank Romania.

He emphasized the fact that the guarantees offered to the companies by Romanian state through EximBank represent an extraordinary resource that local companies should be using more in order to extend their businesses on non-traditional markets.

”We consider it important for the business men to keep in mind that through EximBank the Romanian state offers instruments for supporting the international development of Romanian companies as well as their participation in specific projects outside the country”, emphasized Traian Halalai.

As far as the cooperation with Chinese financial institutions is concerned, EximBank Romania proved its availability for involvement in projects aiming at stimulating the Chinese investments in Romania, especially in the context of the financial program amounting at 10 Bln USD, supported by Chinese authorities in order to strengthen the cooperation with countries in Central-Eastern Europe.

”The cooperation between financial institutions in Romania and China represents a significant step in the development of the mutual economic relations and, along with the governmental bodies we are considering the option of signing a Financial Cooperation Agreement with China Exim Bank. We are open to reach this new cooperation level especially taking into account the fact that both institutions can offer a large portfolio of specific products and services for supporting the export activity and investments abroad, in full harmony with good practices and international regulations”, added Halalai.

He mentioned that the increase of commercial exchange between Romanian and China registered during last years has naturally determined the development of the formal cooperation framework between the main financial institutions state owned in the two countries, which have as mission supporting the international transactions and priority projects that impact the national economies development.

First step was in 2004, when Banca de Export-Import a Romaniei, EximBank Romania signed a cooperation agreement with China Exim Bank. Once this document signed, a very transparent communication channel has opened in favor of Romanian and Chinese companies intending to initiate business relationships and develop their activity in safe, predictable conditions.

Also, in order to successfully support bi-lateral transactions, during the same year, 2004, EximBank Romania has established a framework agreement with the Chinese Agency for Insuring Exports, China Export, and Credit Insurance Corporation Sinosure, the similar institution in the field of insurance for export credits and investments abroad.

The extension of the EximBank Romania mandate to supporting priority projects of Romanian economy especially in infrastructure, energy, regional development has led to signing a framework Cooperation Agreement between EximBank Romania and China Development Bank in 2007. This represented an important step in identification complex financial solutions adjusted to the specificity of such projects that are usually develop in a private/public partnership.