Austria consolidates position as one of Romania's main trade and business partners
How would you characterize 2015 as far as Austrian – Romanian economic relations are concerned? What were the highlights of the year?
The economic relationship between Romania and Austria is a continued success story with our bilateral trade volume increasing rapidly over the past years. Romanian exports to Austria have gained momentum and amounted to 1.21 billion Euro in 2014 – a plus of 9.5 per cent year-on-year. It was also a good year for Austrian exports, with a total volume of 1.88 billion Euro (+4.4 per cent). In the first 10 months of 2015, the latest figures currently available indicate a continued positive trend, further intensifying our bilateral trade relations. Even in times of tougher economic environment, economic ties between Romania and Austria are strengthening: Romania is among Austria’s top 20 economic counterparts worldwide and our most important trading partner in Southeast Europe.
What is the total volume of Austrian investment in Romania and which sectors
of the economy have potential to attract more investments from Austria in the current economic background?
Austria is a major investor in Romania. According to the latest available official figures, the overall investment by Austrian companies reached 9.7 billion Euro, amounting to 16.1 per cent of the total investments in Romania. According to surveys of the Romanian National Bank, Austria therefore remains a top investor. As investment capital flows are becoming more and more complex, with statistics not fully reflecting the actual origins of investments, we can assume that Austria is the strongest investor in Romania, and one of the major driving forces of economic development and progress in the country. Austrian companies are active in almost all aspects of the Romanian economy. They are particularly strong in banking and insurance, oil and gas, environmental technology and services, real estate, agriculture, construction material and services, wood processing, packaging, transport, logistics and retail.
What is the total number of Austrian companies operating in Romania and what changes have
you seen in the types of companies that are looking to establish themselves in this market?
Romania is a country where Austrian investors are particularly active. By the end of last year, there were more than 7.000 companies with Austrian capital registered in Romania, directly creating more than 100.000 jobs. These companies provide modern technology, keep high standards for sustainable and environmentally friendly projects and uphold social values. The biggest Austrian investments in Romania were made by OMV, which purchased a majority stake in Romania’s Petrom, and Erste Bank, the buyer of BCR. In fact, these two are the biggest investments ever made by Austrian companies outside of their home country.
A lot of the new investment projects come from companies that are already established investors on the market, which is clear evidence of the excellent relationship that our countries enjoy. Most Austrian companies that are large enough to invest in Romania are already present here. Hence, it is rather existing investors that aim at expanding their presence in Romania.
The economic relationship between Romania and Austria is a continued success story with our bilateral trade volume increasing rapidly over the past years. Romanian exports to Austria have gained momentum and amounted to 1.21 billion Euro in 2014 – a plus of 9.5 per cent year-on-year. It was also a good year for Austrian exports, with a total volume of 1.88 billion Euro (+4.4 per cent). In the first 10 months of 2015, the latest figures currently available indicate a continued positive trend, further intensifying our bilateral trade relations. Even in times of tougher economic environment, economic ties between Romania and Austria are strengthening: Romania is among Austria’s top 20 economic counterparts worldwide and our most important trading partner in Southeast Europe.
What is the total volume of Austrian investment in Romania and which sectors
of the economy have potential to attract more investments from Austria in the current economic background?
Austria is a major investor in Romania. According to the latest available official figures, the overall investment by Austrian companies reached 9.7 billion Euro, amounting to 16.1 per cent of the total investments in Romania. According to surveys of the Romanian National Bank, Austria therefore remains a top investor. As investment capital flows are becoming more and more complex, with statistics not fully reflecting the actual origins of investments, we can assume that Austria is the strongest investor in Romania, and one of the major driving forces of economic development and progress in the country. Austrian companies are active in almost all aspects of the Romanian economy. They are particularly strong in banking and insurance, oil and gas, environmental technology and services, real estate, agriculture, construction material and services, wood processing, packaging, transport, logistics and retail.
What is the total number of Austrian companies operating in Romania and what changes have
you seen in the types of companies that are looking to establish themselves in this market?
Romania is a country where Austrian investors are particularly active. By the end of last year, there were more than 7.000 companies with Austrian capital registered in Romania, directly creating more than 100.000 jobs. These companies provide modern technology, keep high standards for sustainable and environmentally friendly projects and uphold social values. The biggest Austrian investments in Romania were made by OMV, which purchased a majority stake in Romania’s Petrom, and Erste Bank, the buyer of BCR. In fact, these two are the biggest investments ever made by Austrian companies outside of their home country.
A lot of the new investment projects come from companies that are already established investors on the market, which is clear evidence of the excellent relationship that our countries enjoy. Most Austrian companies that are large enough to invest in Romania are already present here. Hence, it is rather existing investors that aim at expanding their presence in Romania.
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