Buletin comercial Rolmania-Suedia

Buletin de afaceri România-Suedia Business Bulletin Rumänien-Sverige

Romania-Sweden business newsletter Nr. 08/Octombrie 2015

Nr. 08/October 2015 No. 08/October 2015

BPCE Stockholm, SUEDIA Handelskontor Rumäniens i Stockholm, Sverige Trade Office of Romania in Stockholm, Sweden

36, Ostermalmsgatan, 10041-Stockholm; tel: +46 8 102858; email: [email protected]

mailto:[email protected]

Business Newsletter Romania-Sweden Facts about Romanian Economy

Economic evolutions in Romania

Industry: In 2014, the industrial production increased by 6.1%, compared to the previous year. Increases were registered in manufacturing (+7.5%) and in mining and quarrying (+1.0%). Electricity, gas, steam and air conditioning production and supply registered a decrease by 4.7%. By broad industrial groups, increases were registered in capital goods industry (+11.4%), in durable goods industry (+8.6%), in intermediate goods industry (+3.9%) and in current use goods industry (+3.2%).

Trade and services: During 2014, compared to the previous year, the turnover volume of enterprises having as main activity retail, except motor vehicles and motorcycles, registered an increase of 7.0%.

Tourism: Arrivals in the tourist reception establishments registered a growth of 6.6% in 2014, compared to 2013.

International trade in goods: In 2014, FOB exports amounted to EUR 48659.5 million, their value being by 6.5% higher than in the previous year, calculated based on the values expressed in EUR. In the structure of exports, three out of the 10 sections of goods in the Standard International Trade Classification (SITC Rev. 4) account for 74.4% of total exports (eg.: machinery and transport equipment 42.2%, manufactured products mainly classified by raw material 16.6% and miscellaneous manufactured articles 15.6%).

In 2014, CIF imports amounted to EUR 53963.5 million, their value being higher than in the previous year with 6.0%, based on the values expressed in EUR. In the structure of imports, four of the 10 sections of goods in the SITC Rev. 4 account for 79.8% of total imports (eg.: machinery and transport equipment 35.3%, manufactured products mainly classified by raw material 21.4%, chemicals and related products not-elsewhere specified 13.7% and miscellaneous manufacture articles 9.4%).

In 2014, the trade deficit amounted to EUR 5304.0 million in FOB/CIF prices, EUR 91.7 million higher than in the previous year. The value of intra-community exchanges of goods during was of EUR 34661.4 million for deliveries and EUR 40650.1 million for inputs, representing 71.2% of total exports and 75.3% of total imports.

Table of contents

Facts about Romanian Economy

Bilateral Trade

Economic & Financial News

Business opportunities

International events

Facts about Romania

Useful contacts

Pg. 2/17

Source: National Institute of Statistics www.insse.ro

http://www.insse.ro/

Business Newsletter Romania-Sweden Facts about Romanian Economy (cont.)

Economic evolutions in Romania - Romania’s economic outlook, by NBR, oct. 2015

Macroeconomic snapshot • 2015 – the fifth year in a row with positive economic growth

After GDP dynamics of 2.8% in 2014, current forecasts for 2015 cluster around 3.5%, again well above EU

average growth

• The output loss incurred in 2009 and 2010 has been made up for

• The growth outlook is favourable, yet growth sustainability is conditional upon preserving macroeconomic

equilibria

• Inflation rate declined in recent years, reaching record lows in 2015

The average annual HICP inflation rate (0.2% in Sept.) is compliant with the specific Maastricht criterion

• The current account deficit is expected to remain below 1.0% of GDP in 2015, well under the MIP scoreboard

benchmark (4%)

• International reserves remain at a comfortable level despite the almost full repayment of the IMF loan

• Excessive general government deficit corrected as of 2012

• The MTO of 1% of GDP structural deficit has been reached in 2014, thus complying with the provisions of the

preventive arm of the Stability and Growth Pact

A significant deviation from the MTO looks likely in the coming years given forthcoming tax cuts and wage

increases in the public sector

• Despite growing rapidly during the crisis years, the public debt to GDP ratio remains below 40% of GDP (the

4th lowest in the EU)

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Bilateral Trade




Facts about Romania

Useful contacts

Pg. 3/17

Business Newsletter Romania-Sweden Facts about Romanian Economy (cont.)

Bilateral Trade Romania - Sweden

• The 2015 continued the positive trend of increasing bilateral trade, that reached in 2014 a total figure of 7.000,38 million SEK, 57% more than the level of 2010. We may highlight the strong growth of the bilateral trade in the last five years, in spite of the problems of the international crisis that started in 2008.

• It is noteworthy that the trade growth was due to the increase of both exports and imports, for the two parts, and this is why we have a balanced trade with significant prospects for growth and diversification. Romanian exports in relation to Sweden increased with 100,8% during the last five years and the import of Swedish products raised by 14% in the same period of time. In 2014, bilateral trade balance was favorable to the Romanian side with a total balance of 1.867,20 million SEK.

• During the first eight months of 2015 the total bilateral trade was 4195 million SEK, 6,5% less than the same period of 2014. The Swedish export was 1739 million SEK, 12% more than in 2014, and the Romanian export to Sweden was 2456 million SEK, 16% less than the last year. The bilateral trade is keeping a favorable balance, of 717 million SEK, on the Romanian side, for the period January-August 2015. The bilateral trade figures of 2015 are in correlation with the trend of diversification of the economic relations between Romania and Sweden.

Evolution of Trade between Romania and Sweden (million SEK)

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Facts about Romania

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Pg. 4/17

2010 2011 2012 2013 2014 2014/2010

Export 2.207,95 2.562,85 2.987,54 3.665,91 4.433,79 +100,8%

Import 2.247,70 2.309,47 1.941,42 2.187,40 2.566,59 +14,0%

Total 4.455,65 4.872,32 4.928,96 5.853,31 7.000,38 +57,0%

Balance -39,75 +253,38 +1.046,12 +1.478,51 +1.867,20

Business Newsletter

Romania-Sweden Economic & Financial News from Romania

Romania has second highest increase in construction volumes in EU

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Facts about Romanian Economy Bilateral Trade Economic & Financial News Business opportunities International events Facts about Romania Useful contacts

Pg. 5/17

Romania recorded a 10.4 percent increase in construction volumes in August over the same month of the previous year, according to first estimates from Eurostat - the statistical office of the European Union. This is the second highest increase among EU28, after Sweden, which recorded a 13 percent increase and above the 9.8 percent registered by Slovakia.

Among member states for which data are available, the largest decreases in production in construction were recorded in Slovenia (15.5 percent), France (9.2 percent) and Hungary (6.1 percent).

The EU28 saw an average of 5 percent decrease, mainly due to building construction falling by 6.1 percent and civil engineering by 0.8 percent.

The euro area (EA19) also saw lower values (6 percent), with building construction falling by 6.3 percent and civil engineering by 5.5 percent.

However, against the previous month, construction volumes in Romania saw a 0.5 percent drop, while in the second quarter of 2015 there was a 1.7 percent fall over Q1 2015.

In August 2015 compared with July 2015, seasonally adjusted production in the construction sector fell by 1.2 percent in the EU28 and by 0.2 percent in the euro area. In July 2015, construction volumes grew by 0.4 percent in both zones.

Business Newsletter

Romania-Sweden Economic & Financial News from Romania (cont.)

International Investment Bank issues EUR 25 mln bonds on Bucharest Stock Exchange

“We are glad that the supply of financial instruments on the Bucharest Stock Exchange becomes increasingly diverse. The IIB project proved to be a successful offering, also in terms of the time needed to complete the deal, which was fairly short. It can serve as a good example to other projects in the domain of debt instruments or equities alike” - said Ludwik Sobolewski, BVB CEO.

11,100 bonds with a nominal value of RON 10,000 (about EUR 2,200) were issued, for which the International Investment Bank will pay, on an annual basis, an interest rate of 4.1 percent p.a.

“This bond is not only IIB’s first local currency bond outside of the country of our headquarters, but it is also significant in two major ways. First, after Russia and Slovakia, Romania is the third country where we have committed ourselves to the development of the local capital market. In fact, this is the largest issue of any international financial institution on the Romanian market in the past 6 years. And secondly, as testified by our latest transactions, Romania has become one of the leading destinations for our investments and today’s bond will allow us to further support this growth of our operations in the country. In this sense, the IIB aims to channel the liquidity on the market to sustainable and socially viable economic activities” - stated Denis Ivanov, deputy chairman of the board, International Investment Bank.

The bonds issued by International Investment Bank were bought by 13 Romanian institutional investors. The lead manager of the offer was BT Securities, part of Banca Transilvania financial group.

The International Investment Bank has 9 member states: the Czech Republic, Hungary, Mongolia, the Republic of Bulgaria, the Republic of Cuba, Romania, the Russian Federation, the Slovak Republic and the Socialist Republic of Vietnam.

Romania has a 6.1 percent share in the International Investment Bank´s paid-in capital. Among the companies recently financed by International Investment Bank are Romcab and Agricover.

BVB runs markets for shares, bonds and other instruments, through regulated platforms and alternative systems, and provides a wide range of services to participants of financial markets. It is a public company, listed on its own market since 2010.

Table of contents Facts about Romanian Economy Bilateral Trade Economic & Financial News Business opportunities International events Facts about Romania Useful contacts

Pg. 6/17

The bonds issued by International Investment Bank debuted on October 15, 2015, on the Bucharest Stock Exchange (BVB). The total value of the issuance is RON 111 million (EUR 25 million).

Business Newsletter


Foreign Investors Summit - ‘Romania has a promising human resources market…’

http://summit.business-review.eu/

“Competitive advantages related to labour costs, however, are declining and the country’s future competitiveness must be based on activities with higher added value. Investors need dynamic economic, fiscal, administrative and social frameworks and foresight to initiate and implement their investment plans. Developments in the Labor Code and Social Dialogue Code in Romania should allow greater flexibility of labour and not vice versa” - Mr. Nicolas Maure warns.

The Dacia Renault representative explained that large infrastructure projects, especially in transport and IT, will facilitate trade, while universities and technical schools need to better adapt their curricula to the needs of employers, which is done through dialogue.

On the other hand, companies present in Romania need to have a stronger common voice when communicating needs to social partners and the government.

“Regarding the activities of Renault in Romania, we are confident in the future, planning new products, manufacturing processes, research and development and service” - the general director of the group concluded.

Nicolas Maure speaks at the Foreign Investors Summit, during the Automotive Conference (on 27 Oct.).

Foreign Investors Summit is a 3-day event bringing together some of the most dynamic foreign investors’ communities active in Romania to showcase Romania’s potential as an investment destination. It includes conferences, dedicated workshops, key note speakers and dozens of experts to provide the most relevant information on doing business. On the website www.summit.business-review.eu and blog http://summit.business-review.eu/category/blog/, there is information about the event, agenda, keynote speakers from the six of Romania’s most powerful industries: IT&C, automotive, infrastructure (transport, logistics), agriculture, energy and real estate.


Pg. 7/17

“Companies in Romania need a stronger common voice. With a population of over 20 million, of which about 9.2 million people were economically active during Q2 2015, Romania has a promising human resources market with technical, economic and linguistic skills.” - Nicolas Maure, president general director of Dacia and general director of Renault Group Romania, tells for Business Review magazine, organizer of the Foreign Investors Summit (26-28 Oct. 2015, World Trade Center Bucharest, Romania)





http://www.summit.business-review.eu/



http://summit.business-review.eu/category/blog/





Business Newsletter


Education is the main reason of immigration to Romania

A smaller share (17,5 percent) of immigrants came to Romania for employment, while other reasons were invoked by 15,8 percent.

Romania issued 10.294 residence permits during 2014, about 0,5 per 1.000 average population, while the EU average stood at 4,5. In fact, Romania scored lowest among EU states in terms of permits issued, just below Croatia, with 0,8 permits per 1.000 population, and Slovakia with 1.

Among countries who had the highest immigrant intake compared to average of population, Malta takes the lead with 23,2, followed by Liechtenstein with 19 and Cyprus with 16,2.

Countries with the highest intake of immigrants calculated as share of total immigrants coming to EU were the United Kingdom (567.800 residence permits issued, or 24,6% of total permits issued in the EU), followed at a distance by Poland (355.400, or 15,4%), Germany (237.600, or 10,3%), France (218.300, or 9,5%), Italy (204.300, or 8,9%) and Spain (188.600, or 8,2%). Together, these six member states accounted for around three quarters of all first residence permits issued in the EU in 2014, the Eurostat report shows.

In 2014, most of the new residence permits issued in the EU were for citizens of Ukraine (302.800 beneficiaries, or 13,1% of the total number of these new residence permits), ahead of citizens of the United States (199.200, or 8,6%), China (169.700, or 7,4%) and India (134.900, or 5,8%). Actually a third of all new residence permits issued in the EU in 2014 were issued to citizens of these four countries.

In Romania, 13,6 percent of residence beneficiaries (1.401) came from the Republic of Moldova, 11 percent (1.129) from Turkey and 9,5 percent (980) from China.


Pg. 8/17

Recent data by Eurostat shows that the largest share of immigrants choosing Romania as their destination in 2014 stated education as the reason for relocation. Over 34% of people asking for a residence permit in Romania came in our country for education, while 32,4% invoked family reasons.

Business Newsletter Romania-Sweden Business opportunities

- Romanian Companies interested in the Swedish market

TITAN MAŞINI GRELE S.A. a YARED Group Co.

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Bilateral Trade




Facts about Romania

Useful contacts

Pg. 9/17

For nearly 40 years, Titan Masini Grele (TMG) has been the technological centerpiece of the well known Romanian machine tool industry. Experts from within the family of The Yared Group have dedicated their skills and knowledge to the betterment of TMG. From 1997, they have integrated 6 separate Romanian companies into one that offers true value to customers.

TMG’s nearly 60,000 square meters houses manufacturing space for fabrication and heat treatment, machining and assembly, office space for engineering, quality control and administration. It serves as the manufacturing facility for Yared Group’s machinery products (Titan TMG machine tools and McNeil & NRM tire machinery) and provides valuable contract manufacturing services to customers worldwide (France, Germany, USA, India, China, Austria, Sweden, Russia, Italy, etc.).

Contact: Mr. AHMED ABOU EL NASR – General Manager

250 Basarabia Blvd., Bucharest, Romania e-mail: [email protected] Phone: +4021.255.07.68/69; Fax : +4021.255.51.29 Web Page: www.titan-tmg.com

PRODUCTS of TMG:

• Vertical turning and boring mills (eg. standard features: G.E. Fanuc CNC for the USA market -Siemens, Heidenhain, manual/DRO optional; Parker, Rexroth or Vickers hydraulic units; & more several options, as automatic tool changers.)

• Horizontal boring and milling machines (Ceruti, Scharmann, Pama, Innse and Toshiba encouraged the design and manufacture of TMG horizontal boring and milling machines. TMG adopted modular concepts that facilitate now custom design.)

• Gantry milling machines (TMG offers a full line of large, CNC gantry type milling machines, available with traditional floor plate and mobile gantry, as well as special gantry mills with integral turntable providing heavy duty turning capabilities.)

• Rebuilding, modification and CNC retrofitting of large machine tools (commonly performed by TMG with high accuracy machining of critical parts such as guideways, gears, and reducer housings.)

TMG’s sizable welding department can TIG, MIG, stick, submerge arc weld and silver solder, handling weldments up to 20 tons, with Lloyd’s certified welders and modern, brand-name equipment. TMG currently operates more than 280 machine tools and continues to add to an impressive background of electrical and mechanical assembly experience.

Quality: TMG is certified ISO 9001, operates its own metallurgical lab, utilizes computerized scheduling and has dedicated QC personnel stationed throughout the plant. “TMG manufactures what you want, when you want it! When it comes to contract manufacturing, the customer dictates quality!”


http://www.hexipharma.com/



Business Newsletter Romania-Sweden Business opportunities (cont.)

- Romanian Companies interested in the Swedish market

S.C. PHOENIXY Srl.

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Bilateral Trade




Facts about Romania

Useful contacts

Pg. 10/17

Phoenixy is leading the Romanian corn puffs market, with 70% market share.

The company’s yearly turnover is 20 mil Euro, and the export rate is 35% out of the entire sales volume. The story of Phoenixy Company began in 1992 and since then, through perseverance and investment in quality and innovation, become the largest corn puffs producer in Europe. GUSTO is the corn puffs brand produced in Phoenixy factory, with over 1,000,000 corn puffs bags produced per day.

Phoenixy service departments offer research-based technology and products catered to the clients own specific needs. Gusto Corn Puffs are produced following the Highest European Standards in Quality and Food Safety, IFS & HACCP. Phoenixy sells its products in more than 20 countries, in Europe, such as Bulgaria, Czech Republic, Germany, Greece, Italy, Spain, Slovakia, Sweden, UK, and also in USA. Phoenixy established distribution partnerships with big European retailers (as Metro, Rewe, Carrefour, Auchan, Kaufland).

Contact: Mr. Eliodor APOSTOLESCU – Gen. Manager DN 1, no. 12, Băicoi - 105200, Prahova, Romania Tel: +40.244 362423; Fax: +40.244 362424 Emails: [email protected] ; [email protected] Web Page: www.phoenixy.ro

PRODUCTS of PHOENIXY:

The company’s R&D department has developed different lines of extruders, packaging and icing technologies. Gusto Corn Puffs is a 100% natural product, certified IFS high level.

The recipe for the classical corn puffs includes only 3 ingredients: maize grits, vegetable oil, salt.

–No preservatives! –No artificial flavors! –No additives!

GUSTO offers to its consumers a line of products made from the best corn, in a wide range of assortments:

cheese balls, corn puffs with roasted peanut, pizza and onion rings, corn puffs with milk chocolate and different flavors such as raspberry and orange; and for the joy of kids there is GUSTO with Surprises.



http://www.phoenixy.ro/


- Privatization Offer of Romanian Companies

S.C. SANEVIT 2003 S.A.

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Bilateral Trade




Facts about Romania

Useful contacts

Pg. 11/17

(p. 1/2)


- Privatization Offer of Romanian Companies

S.C. SANEVIT 2003 S.A.

Table of contents


Bilateral Trade




Facts about Romania

Useful contacts

Pg. 12/17

(p. 2/2)

Business Newsletter Romania-Sweden International Fairs & Exhibitions in Romania

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Bilateral Trade




Facts about Romania

Useful contacts

Pg.13/17

For more details, open the link: www.expoplast.ro

EXPOMIL - International Exhibition for Military Equipment (ROMEXPO, Bucharest, between the18th and the 22nd of May 2016)

EXPOMIL - International Exhibition for Military Equipment 2016 is at the 9th edition; starting with 1999, this event is part of the international exhibitions in the military and defense industry, being organized in Bucharest every two years.

During EXPOMIL at Romexpo Exhibition Center will be presented systems and military equipment from the endowment of National Defence Forces System, Public Order and National Security (SNAOPSN) made by both national and foreign companies in the security industry. Within the exhibition will be organized the National Pavilion for Research-Development and Innovation, with products dedicated to national defense and security, as well as to civil defense emergency situations (calamities, disasters) and to the management of potential terrorist hybrid threats. Throughout the exhibition also defense and security conferences will be organized, as well as demonstration exercises presented by the formations of SNAOPSN institutions.

ROMEXPO invites to register & participate at EXPOMIL – this event being especially created to provide dialogue opportunities between producers and end users of military products but also to encounter the technological achievements and know-how of advanced equipment in the research, development and innovation in this field. As an exhibitor, the 5 days of exhibition can be used for successful business transactions and for an intense exchange with potential clients and industry experts.

Registration: The application forms are available on the event’s website, www.expomil.ro and for more information you can contact the project team. If you need any further information regarding your participation at EXPOMIL, contact:

Anca Iacob – Fairs & Exhibitions Organizer Mobile: +40 758.837.746; Phone: +40 21 207.70.00/1079; Fax: +40 21 207 70 70 E-Mail: [email protected] ; Web: www.expomil.ro

http://www.expoplast.ro/

http://www.expomil.ro/


http://www.expomil.ro/

Business Newsletter Romania-Sweden International Fairs & Exhibitions in Romania (cont.)

2015

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Facts about Romania

Useful contacts

Pg.14/17

For more details, open the link: http://www.romexpo.ro/program-en-2015

http://www.romexpo.ro/program-en-2015





Business Newsletter Romania-Sweden Facts about Romania

Location, geography and climate

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 features mountains, hills, plains and numerous rivers and lakes. Forests cover one quarter of the country and the fauna is one of 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 bio-diverse wetlands in the world, the Danube Delta. Romania is an all round year destination, having a temperate climate with four distinct seasons.

Politics and economy

Romania is a parliamentary democracy based on European models and a member state of the EU and the NATO.

In the 1930s, Romania was one of the main European producers of wheat, corn and meats and it used to be called “the bread basket of Europe.”

In the 1950s started the development of the heavy industry.

Today, Romania produces coal, natural gas, iron ore and petroleum. Industries include chemical (petrochemical, paints and varnishes), metal processing, machine manufacturing, information technology, industrial and transport equipment, textiles, 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.

More info on: www.romania.travel,

the Official Tourism Site of Romania

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Bilateral Trade




Facts about Romania

Useful contacts

Pg. 15/17

http://www.romania.travel/

Business Newsletter Romania-Sweden Facts about Romania (cont.)

Key economic indicators

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Bilateral Trade




Facts about Romania

Useful contacts

Pg. 16/17

Business Newsletter Romania-Sweden Useful contacts

Presidency of Romania www.presidency.ro

Government of Romania www.gov.ro

Parliament of Romania www.parlament.ro

Ministry of Economy, Trade and Tourism www.minind.ro

Ministry of Foreign Affairs www.mae.ro

National Bank of Romania www.bnr.ro

National Institute of Statistics www.insse.ro

National Trade Register Office www.onrc.ro

Customs National Authority www.customs.ro

Official Journal of Romania www.monitoruloficial.ro

Chamber of Commerce and Industry of Romania www.ccir.ro

Official Tourism Site of Romania www.romania.travel

National Weather Administration www.meteoromania.ro

Bucharest Henri Coanda International Airport www.bucharestairports.ro

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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Facts about Romania

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Pg.17/17

http://www.presidency.ro/

http://www.gov.ro/

http://www.parlament.ro/

http://www.minind.ro/

http://www.mae.ro/

http://www.bnr.ro/

http://www.insse.ro/

http://www.onrc.ro/

http://www.customs.ro/

http://www.monitoruloficial.ro/

http://www.ccir.ro/

http://www.romania.travel/

http://www.meteoromania.ro/

http://www.bucharestairports.ro/

http://www.portofconstantza.com/

http://stockholm.mae.ro/en

http://stockholm.mae.ro/en

http://www.dce.gov.ro/


Documents

Buletin comercial Rolmania-Suedia