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02 December 2023

Romanian Business Council officially launches in UAE


The inauguration of the Romanian Business Council in the United Arab Emirates marks a significant milestone in the pursuit of reinforced economic collaboration and mutual investments between the UAE and Romania.

During the official opening event, which brought together nearly 400 distinguished guests, the Romanian Business Council stated that the decision to establish the Council aligns with the growing desire to consolidate relations between the business communities in the two countries, as the private sector is considered a major driver of trade exchange.

The Romanian Business Council was established in collaboration with the Consulate-General of Romania in Dubai and envisions becoming a vital link, fostering trust and transparency and transforming simple transactions into robust, enduring partnerships between the business communities of both nations.

Sheikh Hamdan bin Khalifa bin Hamdan Al Nahyan, Honourary President of the Romanian Business Council, emphasised the potential benefits to various economic sectors and the development of trade and investment.

"I believe Romania and UAE should have closer relationships, and this will be built with this company," he added.

In a statement to the Emirates News Agency (WAM), Marius Marinoff, President of the Romanian Council, expressed the primary goal of enhancing cooperation between the business communities of Romania and the UAE, aiming to reach $100 billion in investments and trade exchanges.

He emphasised that the current trade value between the two parties ranges from $1.2 to $1.4 billion. Therefore, to achieve the desired goal, more openness and rapid business engagement are needed from both sides. He expected to reach the goal within a maximum of two to three years since Romania serves as a gateway to Europe and has a very significant business community.

Marinoff stated, "The investments by Romanian companies, which will come exclusively from our members, are estimated to be around $1.2 billion, including the construction of a $400 million plant here to convert gas into methanol," adding that "When you look at your government's announcements to increase the GDP by 7%, $100 billion is a modest figure."

He explained, "The Romanian business community sees the UAE as a strategic partner, and we hope this council will serve as a bridge to enhance cooperation."

He pointed out that the relationship between the private sectors in the UAE and Romania has witnessed significant progress in recent years, with the UAE being one of Romania's key trade partners in the Middle East region.

The President of the Romanian Council called on businessmen and companies in both countries to seize the available investment opportunities and establish a strong partnership that contributes to the benefit of all parties and increases employment opportunities.