Traian Halalai, EximBank: There is a need for an update of the strategy for supporting and promoting Romanian exporters

Bucharest, July 10,2017 – Having a comprehensive overview of the barriers identified by Romanian companies in international commercial transactions and the re-writing of the export legislation based on the input from the companies that implement projects abroad should be two of the immediate priorities of the administrative structures that aim at supporting exports said Traian Halalai, Executive President of EximBank at the Week of Commercial Diplomacy Forum, that is taking place in Bucharest this week.

“It is quite obvious that we need an update of the strategy for supporting and promoting the interests of the companies involved in international commercial transactions so that a consolidated presence of Romanian companies on foreign markets could counterbalance on macroeconomic level the potential negative impact on medium and long term of the economy growth based on consumption. Such an update should consider the input from the companies that have already approached foreign markets because in lack of a connected, authorized feed-back coming from the real economy the administrative structures will not be able to develop the most efficient ways of supporting the exporters”, the EximBank representative emphasized.

In his opinion, an important line of action should be the continuous support granted to Romanian companies looking for expanding the export destinations and target other countries outside European Union especially considering that “globally, each year comes with different challenges and change happens so rapidly that we are almost forced to be constantly concerned with these aspects.”

“The trend is now for Romanian companies to offer services abroad in order to acquire the necessary capital for development and less for investment and I would name two of our recent concluded partnerships as samples: Totalgaz Industrie, one of the local leaders in producing equipment and installations for extruding, treating, transport and distribution of natural gas which is developing a project in Ukraine and Romelectro, one of the biggest general contractors in energy projects that is now involved in a project in Egypt”, added Traian Halalai.

The Ministry for Business Environment, Commerce and Entrepreneurship is organizing between July 10 – July 14, the Week of Commercial Diplomacy Forum, with the participation of representatives from economic and commercial sectors and aiming, among others, at re-shaping the architecture of the commercial foreign network in order to increase the presence of the Romanian investment projects abroad as per the Government Program in place.

EximBank is a specialized institution actively involved in supporting and promoting the Romanian business environment. Its specific financial instruments are exclusively targeted to the corporate segment and may be accessed in advantageous conditions by any type of company, either SME or big company, involved in international transactions or solely active on local market. The companies benefit from a competitive portfolio of treasury, cash management, trade finance and factoring products, that come to add up to the financing and guaranteeing offer. In addition, acting as a state agent on the Romanian market of guarantees and insurance, EximBank is the main channel for the public funds made available by the state to be infused in the real economy.