Romania Travel Guide

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Statistics

• GDP: US$160 billion (2009).
• Main imports: Machinery and equipment, fuels and minerals, chemicals, agricultural products, textiles and textile products.
• Main exports: Textiles and footwear, metals and metal products, machinery and equipment, minerals and fuels, chemicals.
• Main trade partners: Italy, Germany, Turkey, France and UK.

Economy

Since the 1989 revolution, successive governments have concentrated on turning Romania into a market economy. Progress has been difficult, hampered by a largely obsolete industrial base and a pattern of output unsuited to the country's needs. Despite such challenges, Romania's economic growth rate crept up, becoming the highest in Europe, at least until 2009 where the GDP fell nearly 7%. Unemployment plagues the country, estimated at 8.1% in early 2010. The car and steel industries have been affected the most and foreign investment has plummeted. Romania is now heavily in debt which includes a €20 billion loan from the IMF.

Business Etiquette

A suit is essential at all business meetings and only on very hot days are shirtsleeves acceptable. English, German and French are used in business circles. Appointments are necessary and punctuality expected. Business cards are widely used.

Office hours: Mon-Fri 0900-1530.

Business Contacts

The Chamber of Commerce and Industry of Romania
Bulevardul Octavian Goga 2, Sector 3, 030982 Bucharest, Romania
Tel: (21) 319 0114.
Website: www.ccir.ro

Romanian Convention Bureau
Calea Victoriei 118, 4th Floor, Suite 407, Sector 1, 70179 Bucharest, Romania
Tel: (21) 314 4100/2.
Website: www.conventionbureau.ro

Conferences & Conventions

For information on conferences and conventions, contact the Romanian Convention Bureau.