The Bucharest Chamber of Commerce and Industry (CCIB) is involved in the development of business ties between Romania and Brazil, offering its members, and the business community in general, opportunities for new contacts and new contracts, CCIB Chairman Iuliu Stocklosa said on Wednesday.

„The organisation of this event [Brazil-Romania Business Forum] is a happy combination of the desire of the Embassy of the Federative Republic of Brazil in Romania to promote and stimulate mutual trade and investment between the two countries under the programme of our chamber that offers new business opportunities to its members, companies, companies in Bucharest and, in general, to the business community of Romania. We consider this event part of the series of meetings of our Chamber „Business Opportunities Day”, dedicating this day to promoting trade and economic co-operation between Romania and Brazil,” Stocklosa told the first edition of the Romania-Brazil Business Forum organised by the Brazilian Embassy in Bucharest, in partnership with CCIB.

At the same time, he pointed out that operating in Bucharest are 23% of the active traders registered in Romania, almost 30% of the sales area and retail sales at national level, 21% of domestic exports and 33% of the value of imports made by Romania.

Also operating in the city are 44.2% of the foreign-owned companies registered in Romania and about 60% of the country’s scientific research activity, providing about 25% of Romania’s gross domestic product

According to Stocklosa, CCIB is very active in the field of foreign affairs due to good contacts with the Romanian Agency for Foreign Investment and Trade, the Ministry of Foreign Affairs and Romania’s diplomatic missions abroad, the Ministry of Economy, Entrepreneurship and Tourism, with foreign embassies and other diplomatic missions accredited in the country.

Brazil is the largest country in South America in terms of land size, population and economy. In its turn, Romania is the 12th largest economy in the EU. Despite this, according to the National Institute of Statistics (INS), trade with Brazil accounted last year for only 1.65% of Romania’s trade with non-European countries and less than 1% of trade with non-EU countries.

Romania imports from Brazil mainly raw materials and semi-finished products, especially soybean residues (used as animal feed), sugar, crude oil, coffee, tobacco, beef and construction materials.

Romania’s exports to Brazil consist of products with higher added value, especially automotive components, beverages, medicines and IT services.

Bilateral trade has hovered around an average of USD 750 million in recent years, but these figures from Brazilian sources do not yet reflect the full potential of trade ties between Brazil and Romania.

What the May 29 event is said to expect in terms of strengthening and promoting the strategic partnership between the two countries is establishing a more comprehensive trade dynamic, supporting the bilateral business environment, promoting partnerships between Brazilian and Romanian companies, creating a platform for regular trade forums in the future, intensifying and diversifying bilateral trade.

AGERPRES