Buletin Comercial Rolmania-Suedia

Buletin de afaceri România-Suedia Business Bulletin Rumänien-Sverige Romania-Sweden business newsletter

Nr. 43/ianuarie 2021 Nr. 43/Januari 2021 No. 43/January 2021

BPCE Stockholm, SUEDIA Rumäniens Handelskontor i Stockholm, Sverige Trade Office of Romania in Stockholm, Sweden 36, Ostermalmsgatan, 10041-Stockholm; tel.: +46 8 102858; email: [email protected] Business Newsletter Romania-Sweden Facts about Romanian Economy

European Commission Economic Forecast – 2020, Autumn Table of contents European Commission* released in Nov. the 2020 Autumn EU macroeconomic forecast (all documents: https://ec.europa.eu/info/business-economy-euro/economic-performance-and-forecasts/economic-forecasts/autumn-2020-economic-forecast_en) *EC publishes two comprehensive forecasts (spring and autumn) and two interim forecasts (winter and summer); reports produced by the Directorate-General for Economic and Financial Affairs - DG ECFIN. The Winter 2020 Interim Economic Forecast will be published in Feb. 2021.

Facts about Romanian Economy REBOUND INTERRUPTED Resurgence of pandemic deepens uncertainty Bilateral Trade In spring 2020, the COVID-19 outbreak struck the European economy with great force: in the first half of the year, real GDP fell at double-digit rates in both the euro area and the EU - rates never seen before. As expected in the Summer interim EU Doing business in forecast, the phasing out of restrictions to social life and economic activity in May Romania led the way for a strong pick-up in activity. But as soon as a sense of cautious normality was Economic & Financial returning to Europe over the News summer, infection rates started increasing again, leading to the re-introduction Business opportunities of virus containment measures. The combination of renewed fear about the spread Tourism of the disease and lockdown measures is weighing on International events economic activity in the short run and putting the nascent recovery on hold. Facts about Romania “With the resurgence of the virus, economic uncertainty is rising as well. The best policy Useful contacts response to this is to deliver on our collective promise. Next Generation EU (NGEU) plans to support member states hardest hit by the COVID-19 crisis and represents a unique opportunity for a fast and transformative recovery” – Pg.2/33 stated Maarten Verwey, director general European Commission DG ECFIN. Business Newsletter Romania-Sweden Facts about Romanian Economy (cont.)

European Commission Economic Forecast – 2020, Autumn (cont.) Table of contents EU 2020 Autumn Economic Forecast: REBOUND INTERRUPTED (full report here: https://ec.europa.eu/info/sites/info/files/economy-finance/ip136_en_2.pdf)

OVERVIEW: The nascent recovery of the European economy has been interrupted by a resurgence of the COVID-19 Facts about Romanian pandemic, which means that uncertainty surrounding the outlook remains particularly high. Economy Bilateral Trade Growth is expected to resume but the recovery to remain incomplete, with divergences Under these assumptions, activity is set to pick up again in the first quarter Doing business in across countries. of 2021 but to remain constrained by virus containment measures and the Romania Following an unprecedented impact of the less beneficial trading relations with the UK. recession, the global economy is set to bounce back, but very Over the following quarters of 2021, the technical rebound from this Economic & Financial unevenly across regions and year’s trough should continue and the gradual decline in the level of News countries, amid a gradual stringency assumed should support a pick-up in activity. recovery in global trade. As these factors lose importance in 2022, economic growth is expected to Financial markets have held up moderate. Business opportunities despite rising risks, with monetary and fiscal policies Overall, EU GDP is forecast to contract by about 7,5% in 2020 before supporting lending, while the rebounding by 4% in 2021, which is less than previously forecast, and by Tourism resilience of the European 3% in 2022. banking sector could be tested. This implies that the output in the European economy would barely return Private consumption is set for a to pre-pandemic levels in 2022. International events gradual rebound after its fastest drop on record, while the The depth of the recession in 2020 and the speed of the recovery in 2021 recovery in investment should and 2022 is expected to vary widely across Member States. This does not Facts about Romania remain incomplete and net only reflect differences in the severity of the pandemic and the stringency exports contribute little to the of containment measures, but also differences in economic structures and economic recovery. domestic policy responses. Useful contacts Job retention policies cushioned EU labour markets, but further The economic impact of the COVID-19 pandemic has not been confined to the EU. adjustment is expected, which Global economic activity plunged into an unprecedented recession in the first half of should exert downward 2020. Extraordinary macroeconomic policy measures around the world have helped pressure on prices. cushion the impact and, together with the relaxation of containment measures, Public deficit and debt are set to helped to spur a cyclical, though uneven, rebound over the summer… As a result, rise sharply, amid a very global GDP (excluding the EU) is expected to contract by about 3,75% in 2020, a expansionary fiscal stance this considerably worse outcome than during the Global Financial Crisis. Supported by the cyclical recovery in private demand and the accommodative macroeconomic Pg.3/33 year. Uncertainties and risks remain policy mix, the global economy (excluding the EU) is forecast to expand by about exceptionally large. 4,75% in 2021, and to moderate to about 3,75% in 2022. Business Newsletter Romania-Sweden Facts about Romanian Economy (cont.)

European Commission Economic Forecast – 2020 Autumn, Romania Table of contents Romanian Autumn 2020 EC economic forecast, full report here: https://ec.europa.eu/economy_finance/forecasts/2020/autumn/ecfin_forecast_autumn_2020_ro_en.pdf

ROMANIA – economic forecast. Sharp output drop, followed by a gradual recovery Facts about Romanian The economic boom began in Romania in 2017 (with a real GDP growth of 7%), eased Economy in 2018 (to 4.3-4%) and was forecasted to a further mild GDP growth for 2019 and Bilateral Trade 2020 (by 3.8% and 3.6% respectively). The EC Winter 2019 Economic Forecast placed Romania in EU top three, by GDP growth. In 2020, affected by the worldwide COVID-19 crisis, the Romanian real GDP was Doing business in projected by EC Spring and Summer Forecasts to decline sharply (by -6%) and to Romania recover its growth (of 4,3-4%) in 2021. In this Autumn 2020 Forecast Romania’s economy is again set to recover in 2021 from the fall in output due to the COVID19 crisis. Economic & Financial Although the contraction in 2020 appears less severe than initially expected, News uncertainty remains very high given the recent evolution of the pandemic and real output is not set to return to pre-crisis levels before the end of 2022. The budget deficit is projected to increase significantly, as the fiscal effort required Business opportunities to fight the crisis comes on top of fiscal slippages.

Tourism Romania’s recovery is expected to be gradual: real GDP is forecast to contract International events by 5,25 % in 2020 and to rebound by around 3,25% in Facts about Romania 2021 and 3,75% in 2022. Private consumption should progressively recover, in Useful contacts 2021 and 2022. Investment is also projected to rebound, albeit persistent uncertainty. Net exports are expected to contribute negatively to growth in 2020. The debt-to-GDP ratio is Pg.4/33 forecast to rise from 35,3% in 2019 to around 63,5 % in 2022. Business Newsletter Romania-Sweden Facts about Romanian Economy (cont.)

European Commission Economic Forecast – 2020 Autumn, Romania (cont.) Table of contents Investment performance limits output drop - Real GDP fell by 4.5% year-on-year in the first half of 2020. Strict lockdown measures had a negative impact on consumer spending. In addition, the disruption of international supply chains and weak external demand slowed production and exports. As the import decline was somewhat less strong, the trade balance continued to deteriorate, but improved primary and Facts about Romanian secondary income balances lowered the current account deficit. Economy Investment surprised with a positive contribution to growth as construction activity was largely unaffected by containment measures. Some restrictions have been Bilateral Trade reintroduced in the autumn and the resulting uncertainty is set to dampen economic growth, particularly in the fourth quarter of 2020. Doing business in Recovery expected to be gradual - Real GDP is forecast to contract by 5,25 % in 2020 Romania and to rebound by around 3,25% in 2021 and 3,75% in 2022. After a sharp contraction, exports began improving in the third quarter of 2020, but losses are not expected to be recovered by year-end. As domestic demand declines, imports are also Economic & Financial set to fall, albeit less than exports. Exports are expected to pick up as of 2021 News supported by the gradual recovery of global trade, while import growth is set to resume, reflecting increased consumer spending. Overall, the contribution of net exports to growth over the forecast horizon is set to remain negative. The current Business opportunities account deficit is expected to decline in 2020 only slightly compared to 2019 and increase again in 2021 and 2022. The unemployment rate increased in the first half of 2020 but stabilized over the Tourism summer, due to policy measures limiting job losses. It is projected to reach 6% in 2020 and continue increasing somewhat in 2021. In 2022 unemployment is expected to decline again, but stay above 5%. Nominal wages are projected to increase International events moderately over the forecast horizon (after several years of double-digit growth). In response to the COVID-19 crisis, the National Bank of Romania cut its key monetary Facts about Romania policy rate in three steps from 2,5% to 1,5%. Inflation is projected to fall to 2,5% in 2020 mainly due to the sharp fall in oil prices and is set to remain contained throughout 2021 and 2022. Useful contacts Risks to the growth forecast - Prolonged uncertainty related to the future direction of public policies in Romania could reduce confidence and hamper credit flows, negatively affecting investment and growth. On the other hand, the funds allocated to Romania under the Recovery and Resilience Facility are expected to provide further support to investment. Public deficit on an increasing path - The general government deficit is forecast to increase to around 10,25% of GDP in 2020, from 4,3% in 2019. Despite an economic recovery forecast and the expected expiry of pandemic-relief employment support Pg.5/33 schemes, the general government deficit is set to increase further, to around 11,25% of GDP in 2021 and 12,5% of GDP in 2022 under a no-policy-change assumption. Business Newsletter Romania-Sweden Facts about Romanian Economy (cont.)

Bilateral Trade Romania - Sweden Table of contents • The last six years continued the positive trend of increasing the bilateral trade. So, during 2018 the total bilateral trade was 1.043,54 million Euro (7,39% more than in 2017), with the Swedish export of 457,04 million Euro and the Romanian export to Facts about Romanian Sweden of 586,49 million Euro. That year, for the first time, the bilateral trade Economy between Romania and Sweden exceeded the symbolic value of 1 billion Euro, Bilateral Trade maintaining a favorable balance (of 129,45 million Euro), on the Romanian side. Worth emphasizing the sustained growth of the bilateral trade in the last years, in Doing business in spite of the problems generated mainly by the international crisis started in 2008. Romania • It is noteworthy that the bilateral trade growth was due to the general increase of exports and imports, both for Romania and Sweden, and this is why there is a Economic & Financial balanced trade with significant prospects for growth and diversification. News • In 2019, the total bilateral trade between Romania and Sweden was 999,68 million Euro (with the Swedish export of 436,25 million Euro and the Romanian export to Business opportunities Sweden of 563,43 million Euro, maintaining a favorable balance of 127,18 million Euro, on the Romanian side), near to the symbolic value of 1 billion euro, from 2018. Tourism • During the first nine months of 2020 the total bilateral trade was 777,52 million Euro, 5,01% more than in the previous year, despite the pandemic negative effects. International events The Swedish export was 343,25 million euros, 6,42% bigger than in 2019, and the Romanian export to Sweden was 434,27 million euros, 3,93% more than the last Facts about Romania year. The bilateral trade is keeping a favorable balance, of 91,02 million euros, on the Romanian side, for January-September 2020. Useful contacts Evolution of Trade between Romania and Sweden (million Euro) 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Total 636,46 496,35 557,08 686,28 675,14 773,62 843,18 874,62 922,76 971,93 1.043,54 999,68

Export 201,9 246,08 291,99 355,76 390,99 452,33 465,73 500,33 541,33 547,24 586,49 563,43

Import 434,56 250,28 265,09 330,52 284,15 321,29 377,45 374,29 381,43 424,69 457,04 436,25

Pg. 6/33 Sold -232,6 -4,2 26,9 25,24 106,84 131,04 88.28 126,04 159,9 122,55 129,45 127,18

Source: INS – Romanian Institute of Statistics Business Newsletter Romania-Sweden Doing business in Romania

Table of contents Invest Romania is the government organization dedicated to providing professional support and advice to foreign investors in Romania Facts about Romanian Its main goal is to attract and facilitate foreign direct investment in Romania. Economy Please see the recently updated information: Bilateral Trade *a short country presentation: http://investromania.gov.ro/web/wp- content/uploads/2020/08/Short_Country-Presentation_InvestRomania.pdf; *the section of news and the monthly Newsletters: http://investromania.gov.ro/web/newsroom/news/ & Doing business in http://investromania.gov.ro/web/newsroom/newsletters/ Romania *the useful guide, created to support foreign investors navigate the Romanian business environment when opening a business: “Made in Romania - The Foreign Investor’s Guide” Economic & Financial (downloadable in the section http://investromania.gov.ro/web/newsroom/downloads/) News Whether it’s about opening a new office or an entire manufacturing facility, the Invest Romania’s expert advice and support services are offered free of charge to organizations wishing to come to Romania. Business opportunities Invest Romania offers: • information on legal framework, business costs, CONTACT tax and government support, infrastructure, etc. Tourism www.investromania.gov.ro • links between potential investors and local 152 Calea Victoriei , Bucharest, ROMANIA resources and opportunities. Tel: +40 21 2025441, Fax: +40 21 3163158 International events • guidance for project implementation during E-mail: [email protected] all stages of the decision-making process and Foreign Investment Directorate consultancy regarding any arising complications. Tel: +40 21 3163129 (int 106/107), Fax: +40 21 3163158 Facts about Romania • assistance in maintaining a level playing field Email: [email protected] for foreign investors and public sector stakeholders. Useful contacts North-East Regional Development Agency of Romania For more information regarding the Agency's free services, see the Investor's Guide for the N-E Region of Romania, a comprehensive brochure that contains relevant figures for an investor, in order to support making an image about the region: http://www.adrnordest.ro/user/file/news/16/Brosura%20ADR_A4_2017_%20WEB%20landscape.pdf CONTACT: Robert Cotună - Expert | Business Development Directorate | Private Investment Office Pg. 7/33 www.adrnordest.ro; 9, Lt. Drăghescu Street, Piatra-Neamț, Romania 610125 Email: [email protected] Phone: +40 233 218 071 / 072; Mobile: +40 746 857 193 Business Newsletter Romania-Sweden Doing business in Romania (cont.)

Autoliv moves its industrial gas production from Sweden (Vargarda) Table of contents to Romania and France. The Swedish group Autoliv has decided to move its industrial gas production from Sweden (Vargarda) to Romania and France. The investment in Romania will be completed Facts about Romanian and will become operational in 2024, meaning Economy the creation of over 100 jobs. Bilateral Trade The last investment of Autoliv Romania of EUR 20 million is in a factory build “from zero”, opened Doing business in in September 2019 in Rovinari. Autoliv also owns local factories in Brasov, Lugoj, Sfântu Gheorghe, Romania Reşiţa and Oneşti, and has engineering centers in Braşov, Timişoara and Iasi. "In January, construction works were started and the location was soon inaugurated, developed on a plot of more than 5 hectares. We managed to attract this investment to Rovinari based on Economic & Financial the workforce existing in the area, with the massive redundancies made by the energy complex News Oltenia" - said Robert Dorin Filip, the mayor of Rovinari, with a population of about 13500 inhabitants. Around 400 people have been initially employed and their number will increase to 1250. Business opportunities Autoliv - the well-known producer of safety systems in the automotive industry (founded in Tourism Vårgårda, Sweden in the form of Auto Service AB in 1953) - has continually expanded its activity in Romania. In 2016 it was the eighth largest exporter in the local economy and already had five plants in International events Transylvania and Banat (Western Romania). After it was opened a new plant in Onesti and an engineering center in multipurpose urban development Palas Iasi (Eastern Romania). In 2017 Facts about Romania Autoliv Romania had 10,500 employees in local manufacturing and centers. Veoneer, a safety electronics company spun-off from Autoliv, has extended its engineering center in Iasi, its second in Romania, after the one opened in Timisoara, and continued in 2018 Useful contacts its recruitment process on the Romanian market. Autoliv Romania has completed in 2018 another investment of 6.4 mil. Euro in a new hall with an area of 2300 sqm, where the strap is produced for motor vehicle safety belts; the newly installed capacity complements the already existing plant in Brasov and together the two will produce 270 million meters of belts/year (increasing by 23% the current volume). In 2018 Autoliv Romania has grown to 11300 employees in its local plants and centers and planed to hire another 200 during the year, increasing the staff in the production and Pg. 8/33 engineering departments, in order to implement the new projects. Autoliv sees its revenues in Romania up to over 4 billion lei (EUR 860.5 million) in 2018, a 2% increase on the previous year (Finance Ministry data). Business Newsletter Romania-Sweden Doing business in Romania (cont.)

Romania becomes the second most important operation of Ericsson Table of contents in Europe, after Sweden

Ericsson started a couple of years ago its collaboration with RCS&RDS (Digi) by modernizing its network to prepare it for the Facts about Romanian arrival of the 5G and IoT services. Economy Bilateral Trade Ericsson has modernized the RCS&RDS (Digi) network to prepare it for the arrival of the 5G and IoT services. The multi-annual contract marked the first collaboration between Doing business in the two companies at a local level. Romania Ericsson was chosen by RCS&RDS to modernize its mobile network in Romania, offering its users the possibility to benefit from improved mobile broadband services. The telecom operator replaced the equipment already available in the Economic & Financial Digi network, with the latest radio equipment in its portfolio that can support News NarrowBand-IoT (BN-IoT) and 5G. The project is primarily focused on modernization of Bucharest’s network and other large cities, marking the first collaboration in Romania of the two Business opportunities companies. Meanwhile Romania has become the second most important operation of Ericsson in Europe - Tourism with business of 300 mil. euro and about 5000 employees! The local subsidiary of the Swedish giant Ericsson, one of the largest global suppliers of International events equipment and services for telecom operators, has become a player with business of over 300 mil. Euro and about 5,000 employees in Romania, following the integration of the antenna plant of the German Kathrein group, in Timisoara. Facts about Romania Romania thus becomes the second largest Ericsson operation in Europe, after Sweden. Useful contacts "In Romania there are four large companies: Orange, Deutsche Telekom, Vodafone and Digi. We work with three of the big ones... You can assess who the market leader is"- said Arun Bansal, first Vice-president and responsible of markets in Europe and Latin America at Ericsson. The Kathrein business will be incorporated into the Ericsson Network division and will be part of a distinct division for antennas. "In the year when we celebrate 25 years of presence in Romania, we add this production Pg. 9/33 component in the Ericsson portfolio" - said Dragoş Rebegea, country manager of Ericsson Romania. Business Newsletter Romania-Sweden Doing business in Romania (cont.)

IKEA expanding activities in Romania Table of contents

IKEA opened its second store in Bucharest (in June 2019), after investing EUR 90 million. Facts about Romanian IKEA Pallady is the company’s largest store in Economy southeast Europe’s and is its 431st store in the world. Bilateral Trade

Doing business in Romania Recently Ikea’s owners decided to diversify investments in Romania The parent company in the Ikea group, Ingka Group, is making a billion kronor investment in wind Economic & Financial power in Romania - reports news agency Reuters. The Ingka Group is buying an 80 per cent share News in seven different wind power farms from Denmark’s Vestas for EUR 136 million (almost SEK 1.5 billion). Business opportunities The Vastint Group, which has the same owners as the Inter IKEA group, is taking one step further towards the completion of the residential project that may be worth as much as EUR 1 billion the Sisesti area in northern Bucharest. It has chosen a company to design the project and is working on Tourism the concept of the future minicity. And in October, Vastint - real estate arm of Inter IKEA group stated that will start soon the International events construction of the second phase of the Timpuri Noi Square project.

Facts about Romania IKEA reported sales of over EUR 160 million in Romania in the financial year September 1, 2018 - August 31, 2019, 15.2% higher compared with the previous year. Useful contacts IKEA currently operates the store opened in northern Bucharest, in Baneasa area (with 670 employees) and its second store the Theodor Pallady (where in addition to the over 500 construction jobs created during the shop’s building, approx. 600 employees joined the IKEA family with the opening of the store) “In total, after 12 years of presence on the market, IKEA has created about 1000 new jobs, providing advanced benefits to all employees. We are glad to continue our journey in Romania!” ” – stated Sara Del Fabbro, CEO of IKEA South East Europe. So, the Swedish furniture and home deco retailer Ikea recently announced that is close to Pg. 10/33 signing a deal to acquire a plot of land stretching onto 8 hectares in Timisoara, western Romania, for a future store. Business Newsletter Romania-Sweden Doing business in Romania (cont.)

Defense and security firm SAAB opens Bucharest office, Table of contents targets Navy and civil marine contract

SAAB, the largest Swedish company and Facts about Romanian one of the largest companies in the military Economy industry in Europe, has opened an office in Romania. Bilateral Trade

Doing business in Romania

Economic & Financial SAAB, the largest Swedish company and one of the largest companies in the military News industry in Europe, has opened an office in Romania. The move comes in the context of the Defense Ministry aiming to launch several endowment projects for the Navy Forces, and the representatives of the Swedish Business opportunities companies have said that they are interested in taking part in the construction or upgrade of equipment. Tourism SAAB, one of the few submarine constructors, might also participate in a contract through which Romania could buy submarines, according to the latest statements by the Defense minister. International events The SAAB company is a military equipment supplier for several armed forces globally, including the German, American armies or various force structures in Facts about Romania European countries like the Czech Republic, Hungary, Poland or Croatia. SAAB officials have stated at an event organized by the Swedish Embassy in Bucharest Useful contacts that they hope to cooperate with the Romanian Army in the navy, terrestrial and air forces. According to the list of priority projects for military endowment, approved by the Parliament, the navy forces programs reach an estimated value of EUR 1.8 billion, which include plans for the purchase of a multifunctional corvette (EUR 1.6 billion) and the upgrade of anti-ship missile launching system (EUR 0.2 billion).

Pg. 11/33 Business Newsletter Romania-Sweden Doing business in Romania (cont.)

“Doing business in Romania” by Nordic companies Table of contents

Business Sweden initiated and financed “The Romania Business Climate”, a survey supported also by the Embassies of Sweden, Denmark, Finland and Norway in Romania. Facts about Romanian The purpose of the survey was to explore how companies with Nordic capital perceive Economy the business climate in Romania, what are the opportunities and challenges of the Bilateral Trade market and to identify areas for improvement and outline future expectations for the Romanian market. Doing business in The survey focused on the following topics: Romania - Business establishment procedures, infrastructure and human capital; - Legislation, taxation and payments; Economic & Financial - Investment environment, regulations and profitability. News The result are based on the answers of 115 respondents, representing 32% of the total number of people, from Nordic companies, who participated to the study conducted by Business opportunities Business Sweden.

Tourism Results of the survey: • Most of the companies think it is easy or very easy to establish a business in International events Romania and rent or buy premises. • The availability of skilled staff is very good, the productivity high and the cost level is one of the lowest in EU. Facts about Romania • The legal system is improving and is trusted by Nordic companies. • The transparency of information is growing; the bureaucracy is still there, but it Useful contacts is not really a barrier. • A very good level of English knowledge, higher than in many other EU-countries and many Romanians know several foreign languages. • The communication infrastructure, especially regarding the roads and railways, is improving. • Romania is providing the second fastest internet speed in the World. • Nordic businesses are very welcome in Romania and they feel that the good reputation of the Nordic countries actually supports them in their business. Pg. 12/33 The majority of the respondents see a bright future for their business in Romania. Business Newsletter Romania-Sweden Economic & Financial News from Romania

President of Romania designated Florin CÎŢU for Prime Minister Table of contents

In December 2020, after the Parliamentary Facts about Romanian elections President Klaus IOHANNIS Economy appointed Florin CÎŢU as a candidate for Bilateral Trade Prime Minister, in charge to form a new Government. Doing business in Romania

Economic & Financial In December 2020, after the Parliamentary election (6 Dec.), The Romania’s President Klaus Iohannis News designated Mr. Florin CÎŢU -minister of finance since November 2019, in the liberal government of Ludovic Orban- to form a new Government. Business opportunities Romania's Parliament endorsed prime minister-designate Florin CÎŢU and his Government on December 23. The Government of center-right coalition, formed by three parties around the National Liberal Party, got 260 votes for (out of 455 MPs present - 32 more than necessary) and 183 Tourism votes against.

International events

Facts about Romania

Useful contacts

The Florin Cîțu cabinet has 21 members, including the prime minister, two deputy prime ministers, and 18 ministers. The labor minister Raluca Ţurcan is the only women in this Cabinet, the most gender- Pg. 13/33 unbalanced government Romania has had in the last 30 years.

Source: romania-insider.com Business Newsletter Romania-Sweden Economic & Financial News from Romania (cont.)

Table of contents PM Florin CÎŢU: In 2020 we halted collapse of economy generated by health crisis; there will be solid growth in 2021

Facts about Romanian Economy Prime Minister Florin CÎŢU said that the collapse of the economy generated by the Bilateral Trade health crisis was halted in 2020 and "the fastest recovery in history after a period of Doing business in crisis" was generated. Romania

Economic & Financial News

Business opportunities Prime Minister Florin Cîțu said that in 2020 the collapse of the economy generated by the Tourism health crisis was halted and "the fastest recovery in history after a period of crisis" was generated, adding that in 2021 there will be a solid growth. International events "In 2020 we halted the economic downturn caused by the health crisis and generated the fastest recovery in history after a period of crisis. Facts about Romania A V recovery of the economy. The reforms we will implement in this government, along with everything we did in Useful contacts 2020, guarantee a solid economic growth in 2021!" He gave assurances that "we will have a stronger and more efficient economy for the benefit of all Romanians.“

Pg. 14/33 Business Newsletter Romania-Sweden Economic & Financial News from Romania (cont.)

Table of contents Claudiu NĂSUI took over as Minister of Economy, Entrepreneurship and Tourism

Facts about Romanian Economy Minister of Economy, Entrepreneurship and Tourism, Claudiu Năsui took over the mandate of Minister from Bilateral Trade the former holder, Virgil Popescu, at the institution's headquarters. Doing business in Romania

Economic & Financial News Minister Claudiu Năsui said that he is honored by his nomination as minister and that he will remain true to the principles and values Business opportunities he has maintained since he has been working in the political sphere and that his missions to the ministry are attracting Tourism European money for businesses and debureaucratisation.

International events "We have a strong reform agenda, one that needs to fundamentally change the way politics was done Facts about Romania in Romania and the way it interacts with the state. The state must be a support for the economy, for SMEs, an infrastructure that allows each of us to look for our good, to try business ideas. After all, this is the force of an economy: a strong SME sector, and we aim for this ministry to be this belt of Useful contacts transmission between the business environment and the state. We also have several ideas for transparency that we have been presenting and talking about and which are included in the Governance Program, which we want to implement, and even more, we have projects on the circuit that we have supported over the last 4 years, about what the public administration should look like to serve the citizen, and we hope that examples of good practice will then be taken up by as many institutions as possible." - said Claudiu Năsui, Minister of Economy, Entrepreneurship and Tourism. Pg. 15/33 Business Newsletter Romania-Sweden Economic & Financial News from Romania (cont.)

INS: Retail turnover up by 2.1 pct in first 11 months of 2020 Table of contents

Romanian Institute of Statistics – INS stated that the retail turnover increased in the first 11 months Facts about Romanian of 2020, compared to the same period of 2019. Economy Bilateral Trade

Doing business in Romania

Economic & Financial Romania's retail trade turnover volume (except for trade in motor vehicles and motorcycles) News increased in the first 11 months of 2020, compared to the same period in 2019, both as Business opportunities unadjusted series and as series adjusted according to the number of working days and seasonality, by 2.1%, respectively by 2.2%, Tourism according to the data of the National Institute of Statistics (INS). According to the INS, the volume of International events turnover in retail trade (except for trade in motor vehicles and motorcycles), as Facts about Romania unadjusted series, increased overall by 2.1% between January 1 and November 30, 2020, compared to January 1 - Useful contacts November 30, 2019, due to the increase in sales of non-food products (+ 5.5%) and sales of food, beverages and tobacco (+ 5.3%).

Pg. 16/33 Business Newsletter Romania-Sweden Economic & Financial News from Romania (cont.)

BNR - Central bank's foreign exchange reserves climbed to EUR 37,379 million Table of contents at end of December

Foreign exchange reserves of the National Facts about Romanian Bank of Romania (BNR) rose 11.93 pct to EUR Economy 37,379 million at 31 December, compared to Bilateral Trade EUR 33,393 million on 30 November 2020.

Doing business in Romania

Economic & Financial During the month of December, the following flows were recorded: News EUR 7,038 million worth of inflows representing changes in credit institutions' foreign currency-denominated required reserves, inflows into the Ministry of Finance's accounts Business opportunities (including the amounts resulting from the Ministry of Finance's Eurobond issues with a nominal value of EUR 2,500 million and from the loan granted by the European Commission under the SURE program amounting to EUR 3,039 million), inflows into the European Tourism Commission's account and other. Likewise, during December were recorded the following flows: International events EUR 3,052 million worth of outflows representing changes in credit institutions' foreign currency-denominated required reserves (including those resulting from the decision to cut Facts about Romania the minimum reserve requirement ratio on foreign currency-denominated liabilities of credit institutions, starting with the 24 November - 23 December 2020 period, from 6 percent to 5 percent), interest payments and principal repayments on foreign currency public debt and Useful contacts other. The gold stock remained steady at 103.6 tones. However, following the change in the international price of gold, its value raised to EUR 5,138 million. On 31 December 2020, Romania's international reserves (foreign currencies and gold) stood at EUR 42,517 million, compared to EUR 38,447 million on 30 November 2020.

Pg. 17/33 During January 2021, the payments due on the foreign currency-denominated public and publicly guaranteed debt amount to approximately EUR 144 million. Business Newsletter Romania-Sweden Economic & Financial News from Romania (cont.)

Romanian companies have started to conquer foreign markets Table of contents From decades-old brands such as Dacia or Gerovital to new companies like UiPath or UNTOLD, these have become some of the best known brands in the world in their respective Facts about Romanian industries. Through their popularity, Romania Economy has secured a place on the map of countries that produce global companies. Bilateral Trade DACIA Doing business in The Dacia plant produces about 350,000 cars annually, most of which are exported to 44 Romania countries. The Dacia Duster SUV is the best-selling SUV in Europe. Currently, France is the largest export market for Dacia cars, followed by Germany, Italy, Spain, Romania, Turkey, Morocco, Algeria and the United Kingdom. Next year, production is expected to grow to over Economic & Financial 400,000 cars per year. According to the latest estimates of 2019, the brand is worth about EUR News 1.32 billion.

Business opportunities BITDEFENDER Exports account for almost 97% of Bitdefender’s turnover. In 2017, the company’s exports summed about RON 578 million. Bitdefender software was originally developed from 1996 Tourism by SOFTWIN, changing its name in 2001. The company was founded by Florin Talpes (current CEO), with a capital of only USD 300. Today, over 500 million people around the world use BitDefender antivirus software. International events ANASTASIA BEVERLY HILLS Facts about Romania Known as “the queen of Hollywood eyebrows,” Anastasia Soare has built a true beauty empire. Last year, Forbes magazine wrote that it is worth USD 2 billion, and Anastasia recently doubled her fortune after selling 49 percent of the company to the Sephora brand, after a few years of Useful contacts direct collaboration. Before this transaction, about six months ago, she concluded a partnership with an investment fund, which, in exchange for a equity stake , will ensure the brand’s entry onto the Asian and European markets. UIPATH A Romanian, the founder of a startup, has become the first billionaire in the business of software robots. That was programmer Daniel Dines, the founder of UiPath, who was on the September cover of the US edition of famous Forbes magazine. His company is valued Pg. 18/33 at USD 7 billion, which that means that Dines, who owns 20 percent of the company, has a net worth of at least USD 1.4 billion. Business Newsletter Romania-Sweden Economic & Financial News from Romania (cont.)

Romanian companies have started to conquer foreign markets (cont.) Table of contents

Facts about Romanian Economy UNTOLD Bilateral Trade This year, the Cluj-Napoca music festival reached its fifth edition. The DJ Mag publishing team organizes annual polls dedicated to the music industry, and this year they created a Doing business in new ranking, where 100 of the best DJs in the world chose their favorite festivals. And in the “Top 50 most important festivals in the world”, UNTOLD ranked 8ht! Romania In 2018, the organizers spent EUR 16 million for an impressive production and line-up. Over 370,000 people worldwide enjoyed the UNTOLD experience this year. For 2020, the Economic & Financial organizers promise new surprises. In fact, the festival is so beloved that the first 17,000 News tickets put up for sale were sold out within 5 minutes. SALADBOX Business opportunities Three continents, 12 countries, 70 restaurants and 3,500 employees. This is the performance reached by Salad Box, the business founded in Cluj-Napoca, in Tourism 2012, by Dan Isai and his family. The most successful Salad Box restaurant is in New York, where Americans queue daily to order salads with recipes which are “made in Romania”. In 2018, the group of companies controlled by the entrepreneur reached a turnover of International events about 60 million euros. AQUA CARPATICA Facts about Romania Carpathian Springs, the manufacturer of Aqua Carpatica, has expanded to the UK, and the Romanian mineral water brand is now available in 500 WHSmith stores nationwide. Aqua Useful contacts Carpatica, a brand created in Romania by the Swiss entrepreneur of Greek origin Jean Valvis, has also arrived at Tesco stores in the United Kingdom. In addition to the UK, the company exports the Aqua Carpatica brand to Japan, China, all Gulf countries (United Arab Emirates, Qatar, Kuwait, Bahrain, Saudi Arabia, Oman), Russia, Moldova, Germany, Hungary, Spain, Australia and Finland. The company ended 2018 with a net profit of about RON 53 million, about 50 percent higher than in the previous year.

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Romanian companies have started to conquer foreign markets (cont.) Table of contents

Facts about Romanian Economy GEROVITAL Bilateral Trade The history of Gerovital begins with the discovery of the first anti-aging formula in the world, called Gerovital H3, by Prof. Dr. Ana Aslan. In 1967, the first Gerovital H3 cream was made in Farmec laboratories. Currently, the Gerovital brand brings together 18 ranges for Doing business in skin, hair and body care, aimed at all types of consumers. Romania Gerovital products are present in approximately 30 countries around the world (such as: Japan, Spain, Italy, Portugal, Czech Republic, Norway, Croatia, USA), enjoying international fame. 8 out of 10 products in the company’s portfolio go to export. Economic & Financial In the evaluation of Superbrands Romania, of a total of 1,560 brands analyzed, Gerovital News obtained the title of Superbrand 2019, which in fact it also held in 2015 and 2017. Gerovital obtained the title of the most powerful Romanian brand in 2019 as well, according to the BrandRO ranking. Business opportunities MUSETTE Tourism One of the biggest Romanian accessories brands, Musette is a family business founded by Cristina Batlan, with a turnover in 2018 of 18 million euros. Musette currently has 15 stores in Romania, USA, Israel and Bulgaria. The company International events plans to expand its operations to Luxembourg, Russia, Germany, France and Italy.

Facts about Romania ANTIBIOTICE IASI Nystatin produced by Antibiotice is sold in over 100 countries on all continents, reaching a Useful contacts share of over 50 percent of the world market. It is also present with substances and finished products in over 70 countries, and its strategy for the coming years is to “conquer” the Nordic states. Recently, the company has focused on expanding its business in the US. Antibiotice started developing a project for the United States and Canada markets in 2006, which consists of the export of injectable drugs. The first orders for this drug were worth EUR 2 million. Exports represent 20 percent of the turnover, but the company plans to reach 40 percent in the coming years.

Pg. 20/33 Business Newsletter Romania-Sweden Business opportunities - Romanian Companies interested in the Swedish market Table of contents Contacts: OPTIM AGRO Mrs. Laura DOSOFTEI E-mail: [email protected] Tel: +40 730 713 966, +40 721 262 022 Bucharest, Romania Facts about Romanian www.optimagrototal.ro Economy Bilateral Trade Optim Agro - A team of brokers in organic agriculture since 2014, who help buyers interested in organic raw Doing business in materials or organic primary processed Romania products to get in direct contact with Romanian producers, ensuring full traceability of the goods and a highly Economic & Financial transparent supply chain. News They provide support throughout the contracting process and ensure that all Business opportunities parties involved have the resources necessary to carry out intra-Community transactions or export in good Tourism conditions. All the contracts for the sale and delivery of the goods are made directly between producers and buyers. International events Their main goal is to have a positive impact in the organic sector for all Facts about Romania stakeholders: manufacturers, traders, processors and end-customers, society, environment, so are interested in long- Useful contacts term partnerships for contract-based production of cereals, oilseeds, technical plants, aromatic plants, vegetables or fruits.

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For more details, contact directly the company ([email protected]) or our office in Stockholm ([email protected]). Business Newsletter Romania-Sweden Business opportunities (cont.) - Romanian Companies interested in the Swedish market

Table of contents Contacts: Marian Serbulea Nera Plant Business Development Partner Econwings | Nera Plant International Distributor The Unique Monastic Products [email protected] Tel: +40 (721) 333 810 Facts about Romanian Nera Plant is a unique and flourishing Economy concept of reviving of old monastic recipes, Bilateral Trade sources of traditional healings, yet with the modern touch of technology and of scaling up Doing business in capacities. Romania Started as a light commercial activity, in 2009, both to support the nuns of Nera Monastery and to make the best use of the Economic & Financial natural heritage plants & flora in the area News (National Park Cheile Nerei, Banat region mountains), Nera Plant is today one of the most-trusted brand of healing, prevention Business opportunities and natural cosmetics in Romania. The key ingredients are concentrates of plants and fruits and essences extracted from the Tourism flora. The fresh plants preserve maximum of their active substances. The color, the smell and the taste of all products are exclusively International events due to the natural ingredients. The entire manufacturing process is manual Facts about Romania and benefits from the nuns’ care and accuracy, from the very moment of picking up the plants and fruits, to drying, grinding, Nera Plant Product Range is vast and diversifies year Useful contacts natural fermenting, maceration, oil after year, as for the market demand. extracting or hydro-alcoholic extracts and The three main product categories are: until preparing, packaging and labeling. 1/ Healing and Prevention The recipes are created and/ or improved 2/ Natural Cosmetics within the monastery by the nuns themselves 3/ Nourishing Foods (the most recent) and while most of the activity is hand-made, the manufacturing technology is of the latest Both the healing and prevention products and the standards. Nera Plant Laboratories is a brand nourishing foods are organic certified, and the cosmetics’ Pg. 22/33 in itself, very strong already. organic certification will be soon completed.

For more details, contact directly the company (by [email protected]) or our office in Stockholm ([email protected]). Business Newsletter Romania-Sweden Business opportunities (cont.) - Romanian Companies interested in the Swedish market Table of contents Contacts: S.C. MOBIENTE S.R.L Mr. Ioan Tulvan - CEO MOBIENTE 22/A, Soseaua Borsului knitwear and textile garments 410605 - Oradea, Jud. Bihor, Romania Phone: +40.359.401.916, +40.359.401.511 Facts about Romanian Email: [email protected] Economy Site: https://www.mobiente.com/en/ Bilateral Trade MOBIENTE is a Romanian company, founded MOBIENTE is a dynamic company, working with in 1995, specialized in the production of professionalism to satisfy all of its clients needs, all Doing business in knitwear and textile garments. over the world. The team is composed of 250 Romania MOBIENTE has a well known tradition in this specialized engineers, technicians and qualified, field of activity, gathering knowledge and high experienced workers. Economic & Financial experience in knitwear and woven MOBIENTE has been acknowledged for the high News confection for men, woman and children quality of its products, standards achievable (incl. shoes, blankets and sport, gym, thanks to: hunting garments). - the use of forefront technologies (all Business opportunities MOBIENTE is one of the few companies in departments dispose of latest generation Europe able to make in a fully integrated knitting, woven, design, cutting, embroidery, system, knitted items combined with steaming, washing, brushing machines) Tourism textiles, including lace, silk, leather or any https://www.mobiente.com/en/machines-equipments/ type of material, obtaining unique products of the highest quality. - the selection of the best raw and sustainable materials. International events With a work area of over 10,000 square meters, the factory is located in Oradea, Bihor County. The geographical position Facts about Romania offers a privileged location at national and European level. Useful contacts MOBIENTE has a close collaboration with important and well-known brands in the fashion industry, developing a long-term MOBIENTE is ISO certified: ISO 9001:2015, ISO partnership with all partners, as: 14001:2015, ISO 45001:2018, valid till 2023 and have been audited by BUREAU VERITAS in 2020.

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For more details, contact directly the company (by https://www.mobiente.com/en/contact/) or our office in Stockholm ([email protected]). Business Newsletter Romania-Sweden Business opportunities (cont.) - Romanian Companies interested in the Swedish market Table of contents Contacts: BBM Outdoors Srl. Mrs. Mirela Geanina PETRI Str. Lalelelor, nr 2 Sewing & Manufacturing Plant 545400 - Sighisoara, Jud. Mures, Romania Email: [email protected] Facts about Romanian Economy Bilateral Trade BBM offers sewing contractor services, which include: Doing business in manufacturing of a variety of products Romania which have in their bill of material fabric with industrial/weatherproof and medical strength & weight and also the specific Economic & Financial accessories as zippers, snaps, velcro, ropes, News ties, hooks, fasteners and others. BBM is looking to Win New Customers for its Their custom sewing capabilities are diverse. plant in any of the textile sewing subdivisions, decided to expand the production facility and Business opportunities BBM fabricate with an array of industrial and range of products. non-industrial materials from cotton to vinyl and canvas to leather. BBM offers Sewing Capacity in a modern Tourism production plant They are able to produce according to -with highly skilled, motivated, well coordinated customers’ physical samples and/or their Operators International events drawings/sketches & specifications, -at competitive Prices, under Service including in house prototype building, if Agreement needed. Facts about Romania -working with Customer’s Material, according BBM sewn products are branded with the to its exact Product client company’s logo. Specification. Useful contacts

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Economic & Financial News

Business opportunities

Tourism AXEL has national clients (Defense Ministry, Police, Gendarmerie, Emergency Situations Inspectorate) and International events foreign customers too: Few of AXEL’s fashion clients: - Fraizzoli Facts about Romania - Paoloni - La Martina Useful contacts

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Doing business in Romania

Economic & Financial News

Business opportunities

Tourism

International events

Facts about Romania

Useful contacts

Pg. 26/33 For more details, contact directly the company ([email protected], [email protected]) or our office in Stockholm ([email protected]). Business Newsletter Romania-Sweden Business opportunities (cont.) - Romanian Companies interested in the Swedish market Table of contents The Chamber of Commerce and Industry of Romania Contact: Mihai Daraban – President

CCIR Business Center Facts about Romanian 2 Octavian Goga Bvd., Economy Bucharest 030982, Romania Bilateral Trade Tel.: +40 21.319.00.93 The Chamber of Commerce and Industry of Fax: +40 21.319.01.56 Doing business in Email: [email protected] Romania is presenting itself as one of the Website: https://ccir.ro/en/ Romania most important forums for representing Romanian businessmen for the last 150 years. Economic & Financial News The rebirth of the Chamber System was marked, after Dec. 1989, by the Law no. 139/1990. Business opportunities The new Chambers of Commerce have been granted the status of non governmental Tourism organizations, associative to the business News: environment; they became the main pillars of International events the market economy, dominated by private The Chamber of Commerce and Industry of entrepreneurs. Romania has published the 120-th edition of Facts about Romania the InfoBulletin - Romanian business offer. The current organization is similar with the This is available to be downloaded from its system in place from 1925, with a Chamber of online version in the CCIR website at: Useful contacts Commerce in every county seat, grouped http://www.snia.ro/infoBulletin/iBno120.pdf under the Chamber of Commerce and Industry of Romania (CCIR). Therefore, interested companies could have a better knowledge of both the Romanian business communities and the development of mutual trade relations.

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Table of contents With international travel still in doubt, vacation-goers need to focus on local tourism offers. Although Romania is not necessarily recognized as a top tourism destination, some private initiatives have managed to challenge this label. Where to, then?

Facts about Romanian Discover Prince Charles’s hidden spots in Transylvania Economy While Viscri village has become a well-known destination Bilateral Trade for any tourist who wants to enjoy a bit of Transylvanian hospitality, Prince Charles and Count Kalnoky’s guesthouse in the remote village of Zalanpatak will offer you a real Doing business in journey back to a couple hundred years ago, with no Romania Wi-Fi, radio or television to entertain yourself; just nature. Prices start from EUR 100 per night. Manors and castles Economic & Financial Daniel Castle (Talisoara village, Covasna county) dates back from the beginning of the 17th century, built by Mihály News Daniel, deputy captain of Three Chairs (Covasna county). Each room is different, where century-old wooden elements are combined with traditional style in a Business opportunities modern way. Prices start at EUR 120/night. Polizu Manor (Iasi) is also an option: a luxury domain built in the 19th century, lying on top of the picturesque hills of Moldova. Prices/night start from EUR 100. Infinity pools with spectacular views Tourism Cabana Barlogu (Somesu Rece, Cluj county) is has an infinity pool with a breathtaking view over the mountains, but the home can only be booked entirely for EUR 750/night, while Pensiunea Ecaterina (Berzasca, Caras Severin county) brings you an infinity pool near the Danube river. Prices here start from International events EUR 60/night. On the water Facts about Romania Bungalows near water or even on the water are also a big hit in Romania. Zaga Zaga Resort near Tecuci is almost sold out for the summer, but you can check out other options such as the Egreta Complex on the Danube river, a unique project in Europe. Prices start from EUR 60/night. Useful contacts Outdoor 5-star experience Glamping resorts are the perfect new trend for those who want to experience luxury tent accommodation. Check out Ursa Mica Glamping Resort or Sunrise Glamping Resort. Wegloo is also a new entry, with igloo accommodation available in Azuga. The wonders on Danube river Egreta complex is situated on the shores of Danube, in Caras Severin county, and the view is really breathtaking. Accommodation is in individual guesthouses suspended on pillars above the Danube, a Pg. 28/33 long pontoon being their connection with the Romanian bank of the river. Each bungalow is composed of bedroom, living room, television, AC, terrace and private bathroom with shower. Free Wi-Fi access is available throughout. Business Newsletter Romania-Sweden Tourism in Romania (cont.)

Suggestion when planning to travel: see the short video The Department of Table of contents “10 Best Places to Visit in Romania”: Tourism (part of the https://www.youtube.com/watch?v=wxyhpDww1eY Ministry of Economy, Entrepreneurship and Tourism) is in charge with the national tourism development strategy, acting to According to National Tourism Statistics promote Romania on the Facts about Romanian and WTO – World Tourism Organisation’s world touristic map. Economy data, over 13 million tourist arrivals Contact: were recorded at accommodation 38 Bd. Dinicu Golescu, Bilateral Trade establishments in Romania, in 2019. Bucharest, Romania Tel.: +40 213037891; Since 2009, the figures have been steadily rising (from 6,14 to Fax: +40 213037893 Doing business in 13,37 million tourists), with more and more domestic as well as E-mail: [email protected] Romania international arrivals in Romanian tourist accommodation. www.turism.gov.ro; www.romania.travel Affected by the worldwide COVID-19 crisis, the Romanian tourism, after several years of robust growth, was declining News: ROMANIAN 2021 TOURISM FAIR Economic & Financial sharply during 2020, mostly regarding the foreign tourists. News At European level, Romanian tourism - Romexpo, growth is on top 6. - 18-21.02 2021 Business opportunities - More information: https://www.targuldeturism.ro/en/ Tourism

To know more about Romanian tourism: International events *use Explore Romania - Official App (Apple iOS and Android) - an interactive guide of Romania's main tourist attractions More and detailed statistics, here: http://explore-romania.eventya.net/ https://www.e-unwto.org/action/doSearch?ConceptID=2418&target=topic Facts about Romania *follow the portal http://newsturism.ro/ - created to connect providers of tourism-related events with the public, The 2019 the most visited cities were Bucharest, Brașov, *open: http://turism.gov.ro/web/wp- Useful contacts Constanța, Cluj-Napoca, Mangalia, Timișoara. The capital is still content/uploads/2017/06/Brosura_MT_engleza.pdf, etc. ... the main destination and has the most foreign tourists. Natural touristic attractions include the Danube, the Carpathian Mountains and the Black Sea.

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Table of contents 2021

https://www.ro mexpo.ro/wp- content/upload 2021 s/2020/PROGR AM_EXPO_202 Facts about Romanian 1_ENG.pdf Economy * Please follow the link for The Bilateral Trade Schedule of 2021 Exhibitions Organized by Doing business in ROMEXPO - constantly Romania updated!

Unfortunately the scenario, Economic & Financial changed News dramatically due to the coronavirus pandemic. Business opportunities Events were canceled, postponed or transferred in Tourism online version, when allowed. International events ROMEXPO has hosted over time some of the most important business, cultural and artistic events in Bucharest and Romania, few of them being Digital Assembly 2019 - annual European conference organized in Facts about Romania Romania on the occasion of holding the Presidency of the Council of the European Union, the Initiative Summit The Three Seas (2018), Disney on Ice (2019), East European Comic Con, but also European and international exhibitions that have already become a tradition, such as Indagra, an agricultural trade fair, BIFE- Useful contacts SIM, an international furniture fair, equipment and accessories, or the Romanian Tourism Fair. Every year the Exhibition Center ROMEXPO manages to be a point of opening the Romanian market abroad and to provide a beneficial experience exchange for the Romanian economy.

•72 exhibitions and fairs annually •75 events for the general public annually •over 81 conventions annually •6,208 companies participating in fairs and exhibitions annually Pg. 30/33 •over 920,000 visitors and spectators annually •46 countries represented at the exhibition events •over 303,234 square meters of annual exposure Business Newsletter Romania-Sweden International Fairs & Exhibitions in Romania

Table of contents 2021

https://www.ro mexpo.ro/wp- content/upload s/2020/PROGR AM_EXPO_202 Facts about Romanian 1_ENG.pdf Economy * Please follow Bilateral Trade the link for The Schedule of 2021 Exhibitions Organized by Doing business in ROMEXPO - constantly Romania updated!

Facts about Romania

Useful contacts

Pg. 31/33 Business Newsletter Romania-Sweden Facts about Romania

Location, geography and climate Table of contents Romania is situated in the southeastern part of Central Europe, on the shores of Black Sea, extending approximately 300 miles north to south and 400 miles east to west. Romania’s territory Facts about Romanian features mountains, hills, plains and numerous rivers and lakes. Economy Forests cover one quarter of the country and the fauna is one of Bilateral Trade the richest in Europe (including bears, deer, lynx, chamois, wolves). The Danube River ends its eight-country journey at the Black Sea, after forming one of the largest and most Doing business in bio-diverse wetlands in the world, the Danube Delta. Romania is an all round year Romania destination, having a temperate climate with four distinct seasons. Economic & Financial News Politics and economy Romania is a parliamentary democracy based on European models and a member state Business opportunities of the EU and the NATO. In the 1930s, Romania was one of the main European producers of wheat, corn and Tourism meats and it used to be called “the bread basket of Europe.” International events In the 1950s started the development of the heavy industry. Today, Romania produces coal, natural gas, iron ore and petroleum. Industries include Facts about Romania chemical (petrochemical, paints and varnishes), metal processing, machine manufacturing, information technology, industrial and transport equipment, textiles, Useful contacts manufactured consumer goods, lumbering and furniture. About 39.2% of Romania’s territory is arable land, 28% forests, 21% pastures, hayfields and orchards and 2.5% vineyards. Corn, wheat, vegetable oil seeds, vegetables, apples and grapes for wine are the main crops and sheep and pigs the main livestock. Forestry and fisheries are also developed.

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More info on: www.romania.travel, the Official Tourism Site of Romania Business Newsletter Romania-Sweden Useful contacts

Table of contents Presidency of Romania www.presidency.ro Government of Romania www.gov.ro Facts about Romanian Parliament of Romania www.parlament.ro Economy Ministry for Economy, Entrepreneurship and Tourism Bilateral Trade www.imm.gov.ro; www.economie.gov.ro Doing business in Foreign Direct Investment Department www.investromania.gov.ro Romania Ministry of Foreign Affairs www.mae.ro National Bank of Romania www.bnr.ro Economic & Financial News National Institute of Statistics www.insse.ro National Trade Register Office www.onrc.ro Business opportunities Customs National Authority www.customs.ro Tourism Official Journal of Romania www.monitoruloficial.ro Chamber of Commerce and Industry of Romania www.ccir.ro International events Official Tourism Site of Romania www.romania.travel Facts about Romania National Weather Administration www.meteoromania.ro Bucharest Henri Coanda International Airport www.bucharestairports.ro Useful contacts Port of Constanta www.portofconstantza.com Embassy of Romania in Stockholm http://stockholm.mae.ro/en Department of International Trade www.dce.gov.ro Trade Office of Romania in Sweden (email: [email protected])

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