Austrian - Romanian partnerships stay strong
What was the volume of bilateral trade exchanges last year and how do you see the volume progressing this year?
Austria and Romania share a long common history, which is also reflected in the strong business relations. Our bilateral trade is driven by Austria’s exports to Romania, which peaked in 2008, reaching nearly 2.4 billion Euro, and remained above the previous five-year average, amounting to 1.6 billion Euro in 2009. Austrian imports from Romania showed a steady course, varying from 722 million Euro in 2004 to 645 million Euro in 2009. In 2010 we saw a dramatic increase in the volume of Romanian exports to Austria, with a 55 per cent surge to 996 million Euro. At the same time, we recorded a five per cent increase in the Austrian exports to Romania, reaching 1.68 billion Euro.
Do you think the economic relations between the two countries have potential for further improvement? In what sectors?
The difficult market conditions have dampened expansion during the crisis. Nevertheless, Austrian companies are keen to develop their investments in the Romanian market and we see great potential especially in the fields of R&D, alternative energy, industrial supplies industry, tourism infrastructure and the automotive supplies industry.
The investment outlook for this year is a lot more positive. We sense a lot of interest in the market, especially in the fields of alternative energy (wind, bio mass and biogas), the ongoing expansion of retail chains (Baumax, Billa, Hervis, DM, Kika, Humanic) as well as further investments from major industrial companies such as Petrom/OMV, Schweighofer/ Egger/ Kronospan.
What is the total volume of Austrian investment in Romania?
According to the latest official statistics from the Romanian National Bank, the Austrian total net investment volume stands at over nine billion Euro, representing 18.1 per cent of the total FDI. 2010 was a difficult year, but the Austrian companies kept expanding, especially in areas such as industry modernization and retail.
What is the number of Austrian-owned companies currently registered in Romania?
According to the latest Romanian Trade Registry figures, there are 5,933 companies with Austrian capital. The Austrian companies are active in virtually every field of business in Romania. However, Austrian investors are particularly strong in the services sector (banking, insurance, transportation etc.), in the wood processing industry (Schweighofer, Egger, Kronospan), and building materials industry (Baumit, Lasselsberger, Wienerberger, Bramac, Tondach etc.). Did you know that Gottfried Schenker, founder of the logistic company Schenker & Comp. Wien opened his first subsidiary abroad in 1879 in Bucharest? Today DB Schenker Romtrans is the biggest player in the Romanian transport market.
To what extent would you say Romania can still be attractive to Austrian investors under the current economic conditions?
Romania is an important business destination for Austrian companies. Our economic office notes a lot of interest in the market (in terms of inquiries, event participation etc.). Nevertheless, it is important for the Romanian government to work on the business environment with zero tolerance for the lack of transparency as well as mismanagement, better law enforcement and more investment in infrastructure. At present, Romania is a difficult market, but it has high potential.
What are the main difficulties that investors from Austria have to face in the Romanian market?
Any investment decision is based on a mix of criteria, including labour cost, competition, market potential, legal environment and so on. Unexpected changes in legal and political conditions are disadvantageous for everyone. For the further development of the market, it is crucial that Romania ensure a stable business environment. Generally speaking, Austrian companies call for more transparency, efficiency and consistency in the public administration, in particular in the area of public procurement, the improvement of the legal system in order to better facilitate their investments.
How can Austria support Romania’s efforts to modernize its economy
and infrastructure?
In my view, the best way to support Romania is through working together and cooperating. There is a lot we can learn from each other – and that goes both ways. Especially in the fields of education and science, it is most beneficial for both countries to further enhance cooperation and exchange. We have very good relations with ASE - the Academy of Economic Studies in Bucharest - for example, a highly recognized institution which invests a lot in education with an international perspective, and also with many other renowned Romanian academic and university institutions.
How would you characterize bilateral relations between Austria and Romania and what areas should be improved?
Our bilateral relations are excellent. This is reflected in a high frequency of high-level visits and meetings. We also have hundreds of guests attending the annual National Day receptions in Bucharest and elsewhere in the country, as well as the beautiful Vienna Ball in Bucharest. Austria is keen to see Romania develop. One of the latest mutual cooperation projects aims improving the use of the Danube area’s potential. There are also ideas on how to further increase scientific relations. There are plans for further and innovative Austrian investments in Romania.
What is your main achievement since you’ve started your mandate here?
My main achievement so far maybe is to have made the acquaintance of so many fascinating and brilliant people in Romania.
Have you traveled extensively in Romania? What areas do you like most?
My wife and I have visited by now Bucharest, Cluj, Sibiu, Timisoara and Resita. We have also stayed in the Paltinis skiing area. We hope to extend that list soon.
What are the main changes you’ve witnessed in Romania during your posting here?
Since October 2010, Romania’s economy has improved considerably. It has got out of the big crisis and it is growing again.
What are your main objectives during your mandate here?
My main objective is to show that Austria is a very good friend of Romania. We share big projects and we want to further develop our relationship.
When was your first contact with Romania?
I was posted to Bucharest as a Councillor from 1992 to 1995.
When did you start your diplomatic career?
I entered the Austrian diplomatic service in 1986.
What other diplomatic postings have you had?
My wife and I have so far been assigned out of Austria to Abidjan, Berne, Bucharest, Brussels and Vilnius.
What university did you attend?
I am an alumnus of the University of Innsbruck and of the Diplomatic Academy in Vienna. I worked as a teacher in the UK, at the University College of Wales in Aberystwyth and at the University of Aston in Birmingham.猠
Austria and Romania share a long common history, which is also reflected in the strong business relations. Our bilateral trade is driven by Austria’s exports to Romania, which peaked in 2008, reaching nearly 2.4 billion Euro, and remained above the previous five-year average, amounting to 1.6 billion Euro in 2009. Austrian imports from Romania showed a steady course, varying from 722 million Euro in 2004 to 645 million Euro in 2009. In 2010 we saw a dramatic increase in the volume of Romanian exports to Austria, with a 55 per cent surge to 996 million Euro. At the same time, we recorded a five per cent increase in the Austrian exports to Romania, reaching 1.68 billion Euro.
Do you think the economic relations between the two countries have potential for further improvement? In what sectors?
The difficult market conditions have dampened expansion during the crisis. Nevertheless, Austrian companies are keen to develop their investments in the Romanian market and we see great potential especially in the fields of R&D, alternative energy, industrial supplies industry, tourism infrastructure and the automotive supplies industry.
The investment outlook for this year is a lot more positive. We sense a lot of interest in the market, especially in the fields of alternative energy (wind, bio mass and biogas), the ongoing expansion of retail chains (Baumax, Billa, Hervis, DM, Kika, Humanic) as well as further investments from major industrial companies such as Petrom/OMV, Schweighofer/ Egger/ Kronospan.
What is the total volume of Austrian investment in Romania?
According to the latest official statistics from the Romanian National Bank, the Austrian total net investment volume stands at over nine billion Euro, representing 18.1 per cent of the total FDI. 2010 was a difficult year, but the Austrian companies kept expanding, especially in areas such as industry modernization and retail.
What is the number of Austrian-owned companies currently registered in Romania?
According to the latest Romanian Trade Registry figures, there are 5,933 companies with Austrian capital. The Austrian companies are active in virtually every field of business in Romania. However, Austrian investors are particularly strong in the services sector (banking, insurance, transportation etc.), in the wood processing industry (Schweighofer, Egger, Kronospan), and building materials industry (Baumit, Lasselsberger, Wienerberger, Bramac, Tondach etc.). Did you know that Gottfried Schenker, founder of the logistic company Schenker & Comp. Wien opened his first subsidiary abroad in 1879 in Bucharest? Today DB Schenker Romtrans is the biggest player in the Romanian transport market.
To what extent would you say Romania can still be attractive to Austrian investors under the current economic conditions?
Romania is an important business destination for Austrian companies. Our economic office notes a lot of interest in the market (in terms of inquiries, event participation etc.). Nevertheless, it is important for the Romanian government to work on the business environment with zero tolerance for the lack of transparency as well as mismanagement, better law enforcement and more investment in infrastructure. At present, Romania is a difficult market, but it has high potential.
What are the main difficulties that investors from Austria have to face in the Romanian market?
Any investment decision is based on a mix of criteria, including labour cost, competition, market potential, legal environment and so on. Unexpected changes in legal and political conditions are disadvantageous for everyone. For the further development of the market, it is crucial that Romania ensure a stable business environment. Generally speaking, Austrian companies call for more transparency, efficiency and consistency in the public administration, in particular in the area of public procurement, the improvement of the legal system in order to better facilitate their investments.
How can Austria support Romania’s efforts to modernize its economy
and infrastructure?
In my view, the best way to support Romania is through working together and cooperating. There is a lot we can learn from each other – and that goes both ways. Especially in the fields of education and science, it is most beneficial for both countries to further enhance cooperation and exchange. We have very good relations with ASE - the Academy of Economic Studies in Bucharest - for example, a highly recognized institution which invests a lot in education with an international perspective, and also with many other renowned Romanian academic and university institutions.
How would you characterize bilateral relations between Austria and Romania and what areas should be improved?
Our bilateral relations are excellent. This is reflected in a high frequency of high-level visits and meetings. We also have hundreds of guests attending the annual National Day receptions in Bucharest and elsewhere in the country, as well as the beautiful Vienna Ball in Bucharest. Austria is keen to see Romania develop. One of the latest mutual cooperation projects aims improving the use of the Danube area’s potential. There are also ideas on how to further increase scientific relations. There are plans for further and innovative Austrian investments in Romania.
What is your main achievement since you’ve started your mandate here?
My main achievement so far maybe is to have made the acquaintance of so many fascinating and brilliant people in Romania.
Have you traveled extensively in Romania? What areas do you like most?
My wife and I have visited by now Bucharest, Cluj, Sibiu, Timisoara and Resita. We have also stayed in the Paltinis skiing area. We hope to extend that list soon.
What are the main changes you’ve witnessed in Romania during your posting here?
Since October 2010, Romania’s economy has improved considerably. It has got out of the big crisis and it is growing again.
What are your main objectives during your mandate here?
My main objective is to show that Austria is a very good friend of Romania. We share big projects and we want to further develop our relationship.
When was your first contact with Romania?
I was posted to Bucharest as a Councillor from 1992 to 1995.
When did you start your diplomatic career?
I entered the Austrian diplomatic service in 1986.
What other diplomatic postings have you had?
My wife and I have so far been assigned out of Austria to Abidjan, Berne, Bucharest, Brussels and Vilnius.
What university did you attend?
I am an alumnus of the University of Innsbruck and of the Diplomatic Academy in Vienna. I worked as a teacher in the UK, at the University College of Wales in Aberystwyth and at the University of Aston in Birmingham.猠
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