Govt. sets Trade House for promoting Romania abroad

Romania’s Government has launched today the procedure for establishing the Trade House. This will promote in a centralized way the Romanian economy abroad. The company will be controlled by the Economy Ministry. Its mission will be “to ensure the promotion of goods, services and businesses in diverse economic sectors, acting as an intermediary between domestic supply and external demand”, according to the document establishing the Trade House. One of the effects of restructuring the Romanian economy, through the transition from the centralized economic system to the market economy starting with 1990, was a decline in the export competitiveness of the Romanian economy. This was caused by the gradual withdrawal of the state from the economy, the dismantling of the central industrial structures and the privatization of the foreign trade enterprises, according to the same document. Prime minister Mihai Tudose said this summer in a meeting with investors that the state wanted to create a system for collecting Romanian products to better capitalize on them and export them. editor@romania-insider.com