RIYADH, 29 November 2006 — Saudi Arabia and Romania have set out a broad vision of a political and commercial relationship following the visit of Dr. Hashim Abdullah Yamani, minister of commerce & industry, to Bucharest last month and the much-awaited appointment of a Romanian ambassador to the Kingdom. Ambassador Dr. Ion Dobreci, an Arabist, presented his credentials to Prince Saud Al-Faisal, foreign minister, here on Monday.
Addressing a press conference here yesterday, Ambassador Dobreci said that “a broader framework of economic cooperation was discussed during the visit of Yamani and the Romanian mission would now be following the agreed agenda to achieve the goal.” “Romania, which will become a member of the European Union next year, is all set to boost its ties in different sectors,” he added.
Dobreci, who has worked in the Middle East for more than 15 years in different capacities besides serving as ambassador to Syria, was speaking on the occasion of his country’s national day celebrated on Dec. 1. The briefing at the Romanian Embassy was also attended by George Gabriel Alexe, first secretary; Christi Catalan, first secretary for economic affairs; and Gheorghe Porojan, consul.
Referring to the European Commission’s confirmation of Jan. 1, 2007 as the date of the Romania’s accession to the EU, the ambassador said that “Bucharest seeks to boost economic, technical, scientific and cultural cooperation with Saudi Arabia on the one hand and GCC-EU ties on the other.” “We are also examining the possibility of cooperation in oil & petrochemical sector as Romania is the first country, which discovered and processed oil and natural gas,” he said. On the investment front, Saudi businessmen can benefit from a flat tax rate with greater incentives offered by Romania. “With an upward trend in economy, Saudi investors can go to Romania and avail the facility of a large market, which also boasts low costs, cheap labor, land and cheap utilities besides economic and political stability,” said the diplomat, adding that the Romanian Agency for Foreign Investment (ARIS) has been set up to extend all assistance to Gulf investors.
He said that Romania, whose economy is growing at a rate of six percent with Europe’s lowest unemployment rate of 5.2 percent, has much to offer Saudi Arabia. “The Kingdom has emerged as the second largest trading partner of Romania”, said the diplomat, adding that there is a greater scope to boost bilateral trade especially in the fields of oil equipment, IT and aeronautics.
“The total Saudi-Romanian trade has been very low, in the region of $200 million,” lamented the diplomat.