The key to stimulate exports is to increase the number of exporters, said the Economy Minister Costin Borc.

Only 15% of the companies that engage in exports have Romanian capital, he added.

“Romania is a not a weak exporter, Romania is a country with few exporters,” the minister said, reports local Agerpres.

Exports represent 30% of the GDP, he explained. The country ranks 53th in the world and 17th in the European Union for exports.

Only 22,000 companies of the total number of 750,000 firms registered at the Trade Registry engage in export activities. Some 85% of the exporting companies are the local subsidiaries of foreign groups and only 15% of them are owned by Romanian investors.

Only 50 companies with Romanian capital have turnovers of over EUR 100 million, Borc added.

editor@romania-insider.com