MANAMA, 10 April 2008 — The GCC countries with a combined GDP of $2.5 trillion are seen as a high-potential target by Romania. The country’s economic climate offers excellent opportunities for investors from the Gulf, said former prime minister and a member of the Romanian parliament.
Adrian Nastase said that he was impressed by the Gulf countries’ overall economic outlook and the capacity to deliver in the backdrop of excess liquidity.Nastase was speaking on the sidelines of Crans Montana Forum 2008 yesterday.
The political vision to see Europe as a potential destination for Gulf investments by these countries is an encouraging development for the countries like Romania which has built its economy from a scratch in the post-1989 era.
Adrian, who has also served as the speaker of the Romanian parliament, said that his country would continue to see Gulf as one of the most important future partners.
“We need to learn from the experience of Gulf nations as this region has created a strong economic bloc under the banner of GCC. This bloc now represents the most influential and powerful economies in the world. For this very reason Romania is trying to attract Gulf investors by working side by side with these countries.
“We have a diplomatic mission in Riyadh to look after the most of the region and this network is likely to be enhanced on a principle of reciprocity.
Highlighting the potential areas for GCC investors he said that infrastructure, roads and highway networks and the banking sector could be the best opportunities for investors.
Romania, he said, has put in place stringent laws for protection of foreign investments in all vital sectors of the economy. “We have developed and streamlined our banking system in line with the strict guidelines of IMF and World Bank. This initiative has resulted in a major boost in the banking sector which is owned 95 per cent by private sector,” he added.
