Romanian Particularities and the need for an International Business Diplomacy Centre in Romania

Romanian Particularities and the need for an International Business Diplomacy Centre in Romania

Recent analysis of the economic evolution of Romania from communism and state owned enterprises towards our free market economy today, reveals that 83% of the Romanian registered companies’ turnover is made by foreign owned companies. The huge majority of the Foreign Ownership in the Node Companies of the Main Markets in Romania is a reality.

70% of the Romania’s exports are made by foreign owned companies.

Those figures stress the importance of multinational companies in the Romanian’s economy but also in the process of globalization of the world economy.

What are the relationships of the multinationals with the Romanian’ state bodies and the other actors of the domestic business community?

The Romanian state needs to design proper export promotion and economic development policies that will stimulate a sustainable growth of both local companies and multinationals.

Lobby is declared an illegal practice in Romania. Multinational companies are definitely using Business Diplomacy when entering the Romanian market, extending the business lines and last but not the least getting different kind of incentives from Government and local authorities.

For most of the local businesspeople, Business Diplomacy is not something that they have had to think very much about in their business lifetimes, but there is a real need for training in this matter. Shall a Business Diplomacy Centre be developed into national one? Or, such Centre shall be part of a global network sharing international best practices based on local economic competences?

Are International Diplomats ready to share some of their knowledge and experience with key business stakeholders? Because if this Pandora’s box will be opened, we shall be ready to deliver something that will produce positive effects for all involved parties, on a global scale.