EximBank Romania has signed a Financial Cooperation Agreement with China Eximbank establishing the general cooperation framework for the two institutions to stimulate the Chinese investment in Romania, especially in the energy and infrastructure fields.
”Signing of this agreement represents another step forward in the implementation of the talks we had during the Commercial and Economic Forum China – Central and Eastern Europe that took place in Bucharest at the end of last year. We are thus following the strategic framework set by the Government establishing trends and macroeconomic objectives and allowing all the institutions involved to participate in the efforts of fostering the growth of our national economy.
”Under this favorable context and having in view the huge development potential of the economic relationships between Romania and China we express our deepest belief that we will attain satisfactory results on medium and long term”, said Traian Halalai, President of EximBank Romania on the occasion of signing the cooperation agreement.
He mentioned that both EximBank Romania and China Eximbank have extensive products and services portfolios, specific to the support activities for export and investments abroad, fully harmonized with best practices and international regulations.
The agreement aims at establishing and developing a long term cooperation relationship in order to promote Chinese investments in Romania, especially for projects related to energy and infrastructure in Romania that Chinese companies find attractive for development or for placing investments.
During the visit of the EximBank Romania’s delegation in Beijing there will be organized meetings with representatives of China Development Bank and China Export and Credit Insurance Corporation Sinosure which is specialized in granting insurance for export credits.
”We will have talks with Romanian Embassy in Beijing representatives in order to identify the ways to support Romanian companies that enter business relationships with Chinese partners. We intend to have a close relation with the body of Economic Representatives in our Embassies that we consider as a valuable resource to be involved in the consolidation of the Romanian companies’ presence on foreign markets. They may offer relevant data to Romanian companies and EximBank is constantly acting as a liaison with the Romanian business environment transferring into it the context elements needed in the business decision making processes”, added Traian Halalai.
He has also stated that for the Romanian exporters that are looking at expanding their export targets the Chinese market is an option that presents extraordinary opportunities.
The first step in opening the Chinese market was the signing in 2004 of a framework cooperation agreement between EximBank Romania and China Eximbank allowing the opening of a transparent communication channel for Romanian and Chinese companies looking into the initiation of business relationships.
In order to successfully support bilateral transactions, during the same year, EximBank Romania has signed a Partnership Agreement with China Export and Credit Insurance Corporation Sinosure, which is specialized in granting insurance for export credits and investments abroad.
Also, EximBank Romania has concluded in 2007, a Framework Cooperation Agreement with China Development Bank which represented an important step in identifying complex financial solutions adjusted to the specificity of the public/private partnership projects.