Roland Lohkamp, Germany's ambassador to Romania, believes EU integration indicated the peak and most visible point in Romania's modernisation.
Over the past 15 years, German direct investments have stood out because of their significant contribution to the development of the auto parts industry, modern retail and the liberalisation of the Romanian energy market. Recently, several German retail, food and car import companies have arrived in Romania, with Germany becoming again Romania's main trade partner.
"In 2007, we celebrated 40 years since the establishment of diplomatic relationships between Germany and Romania. I'm happy to say bilateral relationships have never been tighter or more solid. I can say this for all the important domains: politics, economics and culture," states Roland Lohkamp.
One of the most important moments that marked Romanian-German partnerships is Romania's accession to the EU. The prospects of EU integration have generated a strong upward trend in Romanian-German commercial exchanges over the past 3-4 years. As a result, since 2003, German imports have registered an annual average growth rate of 30%, a period during which exports to Germany have almost doubled, topping 4bn euros last year. The ambassador believes Romanian products can gain a foothold on the German market through innovation, offering Logan's success abroad as an example. Few people know that some of the car subassemblies in the vehicles imported from Germany are produced domestically, in the plants of some major German companies.
However, emigration and an overall increase in wages on the Romanian market could put a damper on foreign investments in the car parts industry, as industry players suggest. "(...) It is only when framework conditions are ensured that Romania will be able to continue to attract further foreign direct investments," believes Lohkamp.
How attractive will the Romanian market be for German investors in the future? The ambassador is upbeat about the trend of German investments in Romania. He believes there is still enough room for several German investments in the financial sector. At the same time, Romania could attract more German tourists, although growth in tourism is dependent on an improved infrastructure.
Lohkamp says dedication and determination are what best characterises German investors. In the Romanian business environment, Germans are also renowned for their earnestness and punctuality, and are many domestic entrepreneurs desired business partners.
"German investments in Romania are sustainable, planned-out on a long term, and not just to get instant profits," adds the German ambassador.
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