The potential export volume of Pakistan is 1 billion Euro, import value from Romania is 4.5 billion Euros.
We can work on Services Sector as well, Businessmen on both sides should discuss new venues
Romania is currently offering work permits to Pakistani citizens in various fields
Romania supports Pakistan’s reform processes and commitments in GSP+ trade scheme.
Working together to finalize a renewed bilateral agreement on education, science, culture, media, youth and sports
Tazeen Akhtar / Editor Pakistan in the World
Pakistan and Romania enjoy very cordial relations in all spheres including trade, investments, education, culture, sports and defense. Both countries have history of 60 years of diplomatic relations.Romania provided 2 petrol and Corvette vessels for Pakistan Navy. Third petrol vessel will reach Pakistan soon. Petrol vessels provide the Pakistani Navy with highly effective search and rescue capabilities that play an important role in safeguarding international trade routes from piracy and other threats like drugs and human trafficking or terrorism.
Romania participated in the 9th edition of the multinational naval exercise #AMAN 2023. Both countries are among the big contributors in UN peacekeeping missions in the world. Romania supported Pakistan for (GSP+) status at European Union that helped increase trade with EU more than USD 1 Billion per year. The two states have consensus on major regional as well as international issues.
Romania is one of the most desired work place for Pakistani labor. Bilateral trade crossed 100 Million Euro in 2021 and showing upward trajectory since then. If tapped, according to actual potential , the trade level can reach the milestone of 1 Billion Euro soon.
Mr. Eduard-Robert PREDA, Charge d’Affaires is working upon how to enhance the present status of bilateral trade. He is having meetings and interactions with business community leaders and visiting government departments.
“Pakistan in the World” is covering Pakistan Romania Relations for many years. Therefore, this scribe convinced Mr PREDA for an interview on the potential, prospects and venues , exploring which the mutual trade can be promoted to the next level. Here are is the interview for the interest and information of our readers.
Q- What is the present status of bilateral trade and economic cooperation between Romania and the Islamic Republic of Pakistan?
A- Romania and the Islamic Republic of Pakistan have traditionally enjoyed good bilateral trade relations, given the long-standing diplomatic relations established almost 60 years ago, on October 15, 1964.
For 2021, the total trade volume between Romania and Pakistan has exceeded 100 million Euro. Romania was Pakistan’s 62nd largest export destination and the 16th largest export destination within the EU. Also, Romania has been the 75th largest import source for Pakistan economy and 11th largest import source from within the EU.
Generally, Romania is exporting to Pakistan mainly wheat and other cereals, wood and wood products, chemicals, iron and other iron products.
Pakistan is exporting to Romania textiles, livestock, leather and leather articles, chemical products, optical and surgical instruments, electrical machines and so on.
Pakistani Business Leaders Call on Charge D Affaires Romania – Trade Investment Opportunities Discussed
Experts from both countries believe that the current status of trade volume has substantial development perspectives. A study of the Pakistan Business Council, published in December 2021, shows that the potential export volume of Pakistan economy to Romania is valued at around 1 billion Euro, whereas the potential total import value from Romania is estimated at around 4.5 billion Euros.
Thus, there is a lot of unexplored and untapped potential of our economies and our trade relations that the Romanian and Pakistan authorities should focus on. Romania could import from Pakistan instruments and appliances used in medical or veterinary sciences, chemical products, medicines, cotton fabrics, clothes, footwear and other products. On the other hand, Pakistan could import from Romania, medicines, chemical products, cereals, motor cars, engines, electronics.
The Romanian economy experts consider that the economies and business environments from our two countries should benefit more from the bilateral trade, including in the sector of services, and we should explore more avenues of cooperation in this field.
The Romanian and Pakistan Chambers of Commerce and Industry should work together in order to create the appropriate conditions for more contacts and cooperation between the business communities of the two countries.
Q- Which are the areas where both countries can further move ahead?
A-The current state of bilateral relations between Romania and Pakistan offers a fertile ground for expanding the cooperation between our countries. The relevant authorities from our countries are now focusing on developing the bilateral relations in multiple fields, including economic, cultural, and various other areas of mutual interest.
During our nearly six decades of diplomatic relations, Romania and Pakistan have concluded numerous bilateral agreements, further strengthening the connection between our two countries.
In the same spirit, our two countries are currently in the process of concluding several new agreements, ranging from economy and industry to fiscal regulations and climate change.
Romania and Pakistan are constantly working together to improve and develop the bilateral relations for the benefit of the friendship and cooperation between our two nations, while bearing in mind the need to uphold and strengthen the free and open international order based on the rule of law, and fundamental values, norms and principles of freedom, democracy, global peace and respect for human rights.
Also, Romania welcomes that Pakistan has become the biggest beneficiary of the Generalised Scheme of Preferences (GSP+). Thanks to the GSP+, EU-Pakistan bilateral trade increased by 78% since 2014 (from EUR 6.9 billion to EUR 12.2 billion). Romania supports Pakistan’s reform processes and commitments in accordance with the GSP+ trade facilitation scheme.
Q-Bilateral cooperation on regional and international fora?
A-Traditionally, Romania and the Islamic Republic of Pakistan have had a good cooperation within international organizations and institutions.
Naturally, multilateral institutions are essential in facing common threats as well as current and future global crises. While domestic measures remain critical to keeping worrying trends at manageable levels, it is joint leadership, international solidarity and cooperation that will define the outcome of the crisis for individual countries and for our multilateral system.
It is thus important to make sure we uphold our commitments and defend the international law. Another lesson concerns the close interdependence between the national and the international spheres.
The open dialogue and constant contact between our two countries have often offered the ground for common official stances on issues of international/bilateral interest.
The steady cooperation of Romanian and Pakistan official delegations and permanent missions at different international organizations, institutions or fora have been beneficial for both countries, having a common, stronger voice together on various issues of global or regional interest.
Given the current international context, we believe that Romania and the Islamic Republic of Pakistan need to continue to develop the cooperation on different levels and issues of common interest, contributing to regional and global stability
Q-What are the key elements of mutual cooperation in education, culture, literary sector with a focus on Mihai Eminescu and Alana Iqbal?
A-Since the establishment of our diplomatic relations, Romania and Pakistan have developed a broad cooperation in education and culture areas. Actually, one of the first bilateral agreements between our countries, signed in Islamabad on July 19th, 1968, involved cultural and scientific cooperation. Later, there were several other subsequent agreements on scientific, cultural, education and sport cooperation, favoring a broader support of bilateral activities.
Currently, Romanian and Pakistan governmental experts are working together to finalize a renewed bilateral agreement on education, science, culture, media, youth and sports, better adjusting the cooperation between our countries in the current global environment.
Regarding our cultural cooperation, the Embassy of Romania in Islamabad has initiated multiple local events honoring personalities both from Romania and Pakistan, focusing on our 2 national poets, Mihai Eminescu and Muhammad Allama Iqbal.
In order to better promote our literature, highly appreciated by the Pakistani public, our Embassy, in cooperation with the National Language Promotion Department of the Government of The Islamic Republic of Pakistan and the Romania-Pakistan Friendship Association, is preparing two major cultural bilateral events, celebrating our two famous national poets: Muhammad Allama Iqbal Day (in November 2023) and Mihai Eminescu Day (in January 2024).
Together, we believe that these two events will, on one hand, render the similarities between the works of our two national poets more perceptible to the public. On the other hand, they will introduce Romanian poetry and Mihai Eminescu’s poems to the Pakistan literature and poetry lovers. The Embassy of Romania is looking forward to jointly organize these events and hope for a positive response from the public on both events.
8th MULTINATIONAL MARITIME EXERCISE AMAN- 2023 AND THE MEGA EVENT OF PAKISTAN INTERNATIONAL MARITIME EXPO & CONFERENCE (PIMEC) KICKS OFF AT KARACHI
Q-What are the prospects of The Islamic Republic of Pakistan workforce in Romania?
A- Since Romania joined the European Union, on January 1, 2007, our economy has recorded a constant and solid economic development.
With some exceptions caused by the economic and financial global crises in 2008-2012 and to the effects of COVID 19 pandemic, Romania continues to sustain one of the largest annual GDP growths reported to other EU member states.
The latest forecasts show that in 2023 Romania will have a projected GDP of 310.4 bln Euro (324 bln USD) and an economic growth of 2.2%. The reports of the World Bank and other international financial institutions show that this trend is likely to continue in the foreseeable future.
Therefore, due to the Romania’s constant economic development, there is a permanent need of workforce in various field of our economy. Actually, many economic reports show that one of the main reasons that Romania’s economy does not develop even faster is the lack of a strong workforce pool. Romanian authorities have acknowledged the situation, so did our business environment.
The practical solution to this limitation is the foreign workforce and the Romanian authorities, in cooperation with the business employers, put in place a strategy to attract this workforce in the economy of Romania.
South and South-East Asia countries have traditionally recorded a certain surplus in terms of workforce and Pakistan is one of the most valuable examples. Romania is currently offering work permits to Pakistani citizens in various fields and different levels of employment and the cooperation between our countries is positive in this area.
(Editor’s Note: Pakistan in the World is working on the promotion and projection of bilateral relations and cooperation since long. It is our pride that we are publishing this interview first in Pakistani media. We are always ready to play our role to spread information about how to enhance mutual ties in all spheres. We wish the best to Embassy of Romania for its efforts to take the bilateral cooperation to the next level. Tazeen Akhtar )
Romania Celebrates Armed Forces Day – Solidarity with Ukraine – Third Patrol Vessel for Pakistan Soon – CdA Eduard PREDA, DA Col RADUCU host Reception
