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Sharjah Chamber Discusses Economic Cooperation With Romania

The Sharjah Chamber of Commerce and Industry discussed with a diplomatic delegation from the Republic of Romania ways to develop prospects for economic cooperation and trade exchange between the two countries and studying the possibility of opening a Romanian commercial representative office in the Emirate of Sharjah aimed at enhancing the joint investment climate between the two business communities and stimulating participation in events and exhibitions on each side.

This came during a meeting with His Excellency Abdullah Sultan Al Owais, Chairman of the Board of Directors of the Sharjah Chamber of Commerce and Industry, at the Chamber’s headquarters, with the Romanian delegation, which was headed by His Excellency Octavian Bogdan Padica, Ambassador of the Republic of Romania to the State, in the presence of Abdulaziz Shattaf, Assistant Director General for the Communication and Business Sector, Jamal Saeed Bouznjal, Director of the Corporate Communication Department, and Fatima Khalifa. Al-Muqrafa is the Director of the International Relations Department in the Chamber.

During the meeting, they reviewed the feasibility of organizing joint economic activities between the two sides to introduce the available investment opportunities and exchange views and views on how to benefit from the expertise available to each side in a way that contributes to the establishment of joint investment projects that enhance the sustainable growth of the economies of the two countries, in addition to discussing finding a new ground for cooperation in organizing a symposium. On investment opportunities, in addition to a Romanian exhibition specialized in several industrial and commercial sectors at the Sharjah Expo Center, in addition to coordinating with Air Arabia to study the opening of an air line between Sharjah and Romania.

His Excellency Abdullah Sultan Al Owais stressed that this visit would open new horizons in the bilateral economic relations between the two countries and contribute to attracting more Romanian investors and businessmen to Sharjah and establishing joint projects between the two parties. He welcomed Romania’s interest in Sharjah and joint investment.

He stressed that the Chamber would be keen to provide all support to increase trade exchange between the two sides by providing the required facilities for Romanian investors in the emirate and facilitating the transfer of capital to it for investment and pushing intra-trade to more broad areas, especially since Romania represents a promising market in addition to the UAE-Romanian economic cooperation relations. It is witnessing continuous growth, as the volume of non-oil trade exchange between the two countries during 2022 reached about $1.01 billion, achieving a growth of 82% compared to 2021, while the total non-oil UAE exports to Romania are estimated at about $66 million during 2022, with a growth rate of 79% compared to 2021.

For his part, HE Octavian Bogdan Padica stressed that this visit comes within the framework of Romania’s interest in cooperation with the UAE and the Emirate of Sharjah in particular, as there is a strong desire to invest and be present in the Sharjah markets, especially in sectors such as manufacturing, food industries and aviation, reviewing the advantages of investing in his country.

He called on Emirati companies to increase their investments and strengthen their presence in Romania, thus contributing to finding new paths of cooperation that support the growth of mutual investments and push them forward with the support and care of the leaderships of the two countries.

Source: alwatan