Romanian companies should not get stuck in an effort to exportto the eurozone, but instead seek dollar-based economies where theycould earn very well during this period as a result of the euro'sdepreciation against the American currency, says Rasvan Radu, CEOof UniCredit Tiriac Bank.
"Romania's chance to emerge from the crisis is exports-related.It has now become very clear that we cannot expect to be driven outof the crisis by inertia, by the rebound of the eurozone, which isyet to be seen. We have to concentrate more on supporting exportsto non-euro markets, and the state needs to play a very importantpart in facilitating the access of Romanian companies." The head ofUniCredit says he now sees the error in abandoning old markets,such as Turkey, Russia, Serbia, and Arab countries, where Romaniancompanies could be competitive, while Bulgarian companies aresignificantly boosting their dollar exports.
"Over the last six months the economic situation has beenparticularly hard on Romanian companies, with sectors such asretail seeing Romanian companies disappear altogether. We have toalso have competitive Romanian companies."
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