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EU membership pays off

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Cristian Cojanu
Recent events in the Crimea have deepened the persistent confidence issues into a crisis of confidence, according to the World Bank's recent economic report on Russia. The same report indicated that Investor pessimism became the decisive factor affecting Russia's economic outlook. However, the World Bank added that global markets had seen little disruption from the growing tension between Ukraine and Russia, and oil markets remained stable. "But such geopolitical and commodity risks could actually play out to the benefit of Russia by pushing oil and gas prices temporarily up.
Most of all, confidence in a broad-based global recovery is still wavering and becoming increasingly driven by a higher differentiation into regional and country-specific sentiments,” the report read.
In this tense international context, Dr. Michael Schwarzinger, the Austrian Ambassador to Romania, emphasized the importance of Romania’s EU membership at Business Arena’s recent Austria – Romania Roundtable Business Conference and Awards. “The events in Ukraine have shown us the importance of good international relations for the economy. No country stands alone, even the most powerful countries need friends, partners, business relations and alliances. Here you can see the enormous advantage that Romania has, as a partner of NATO and a member of the European Union, which is more than just a partnership of nations,” said Ambassador Schwarzinger.
Sheltered from turbulence so far, there is business as usual in Romania, and our magazine continues to present success stories, interviews and reports, focusing on the business outlook in Romania.
TRH Prince Paul and Princess Lia of Romania continue their efforts to promote Romania’s values and business prospects around the world, Sigmund Klein and Eugen Petrov of DOMO speak about their company’s targets, while Orange Romania CEO Jean-François Fallacher reviews the challenges and opportunities in the local telecommunications market.

To read the full version, see the print edition of Business Arena.

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