UK Business Secretary Cable: British companies interested in Romanian energy sector

British companies are interested in Romania's energy sector, said Vince Cable, the British Business Secretary, during a meeting with Romania's Economy Minister Ion Ariton. “It is a good area of cooperation between the two countries, and so are Romania's plans to liberalize the energy sector and focus on significant renewable resources in hydro energy, biomass, wind energy, solar and geothermal,” said Vince Cable.

Ariton presented the state-owned companies up for privatization or restructuring and invited British companies to invest in firms like OMV Petrom (where the state still holds a minority package), Transelectrica, Transgaz, Romgaz, Hidroelectrica, Nuclearelectrica, Oltchim. On the trade side, Romania exported products and services worth EUR 1.3 billion to UK last year, while importing products worth some EUR 1.1 billion. There were over 4,000 British companies registered in Romania in July this year, according to Economy Ministry data, having invested around EUR 830 million in the country. editor@romania-insider.com (photo source: UK Govt)