RIYADH, 21 March 2004 — As Romania enters its 10th year of diplomatic relations with the Kingdom, Dr. Dan Mihai Barliba, the country’s ambassador, foresees more bilateral cooperation.
After the collapse of communism in Romania in 1989, Bucharest looked to Saudi Arabia as the most important country in the region and consequently established diplomatic relations with Riyadh in 1995. It did not, however, open an embassy until the following year.
Saudi Arabia opened its embassy in Bucharest only two years ago.
“The years of diplomatic relations have witnessed a series of events that have benefited both countries,” said the ambassador. In a sign of increasing cooperation, in 2002 the two countries signed a general cooperation agreement on economic, trade, culture, sports, technical, scientific and youth cooperation.
The ambassador recalled Prince Alwaleed’s visit to Romania to explore possibilities for tourist hotels. At present, more than 3,000 Saudis visit Romania every year for recreation and medical treatment. Visas are normally issued within seven days from the date of application.
“Romania is an ideal destination for Saudi tourists since it provides privacy and security for holidaymakers,” the ambassador explained.
In 2002, bilateral trade stood at $95 million. Romanian exports to the Kingdom include furniture, timber, paper, textiles, electrical equipment and medical apparatus. Its imports from the Kingdom, valued at $5 million, include petrochemical products, fruits and dates.
As part of cultural programs between the two countries, the King Fahd National Library has found a number of Arabic manuscripts in Romania. “These rare documents date from the 15th and 16th centuries,” the ambassador said. The library is preparing a catalog of the manuscripts to be preserved in its archives for reference purposes.
The country offers a range of incentives for foreign investors. “No restrictions are imposed on foreign ownership or participation. It is possible for a foreign entity to own 100 percent of a Romanian-registered company,” the envoy said.
The law exempts customs duties on equipment imported for foreign ventures with earnings and profits from foreign investments repatriated after payment of state liabilities. Saudi companies such as Amiantit and Al-Zamil are operating successful joint venture projects in Romania. The companies are engaged in the production of pipelines, fiber opticals and steel sheets.
Foreign investments are not subject to nationalization, expropriation, requisition or any other such measure. Foreign investors can even acquire the state’s shares in a fully or partially state-owned joint stock company from the Authority of Privatization and Management of State Ownership (APAPS) or acquire equity from private investors. The country’s foreign trade regulations follow the guidelines set by the EU.
The embassy in Riyadh has formed a Romanian-Arab Friendship Club. The club’s membership includes Arabs who have studied in Romania and are currently in Saudi Arabia. Members are from Sudan, Egypt, Syria, Palestine, Lebanon, Jordan and Yemen. There are also some 350 Romanians working in telecommunications, agriculture, medical and sports in the Kingdom.
