Romanian foreign minister Oana Țoiu and her British counterpart Yvette Cooper agreed to launch a joint trade and investment working group during talks held in London on Monday, February 9, as part of efforts to deepen the bilateral strategic partnership. The meeting, held during Țoiu’s two-day visit to the UK, also focused on security cooperation, economic ties, and support for the Romanian community in the UK.

The two officials highlighted “the excellent level of bilateral relations,” underpinned by dynamic political, economic, sectoral, and security ties, as well as by a solid Strategic Partnership, the Romanian Ministry of Foreign Affairs (MAE) said. 

Both sides reaffirmed their shared vision on peace and security and their firm commitment to Euro-Atlantic security, including through the United Kingdom’s participation in NATO missions deployed on Romanian territory.

Moreover, the discussions also underlined the importance of the more than 1.3 million Romanian citizens living in the UK, whose contribution to strengthening bilateral ties was described as significant.

Economic cooperation featured prominently on the agenda, with the two officials noting the dynamic growth in bilateral trade and the strong potential for expanding investment, MAE also said.

At Oana Țoiu’s proposal, the sides agreed to establish a joint working group on trade and investments, tasked with identifying priority sectors and defining a concrete action plan under the Strategic Partnership framework.

According to official data, bilateral trade in goods reached EUR 3.48 billion in the first ten months of 2025, with the UK ranking 11th among Romania’s foreign direct investors. The planned working group aims to stimulate strategic investments in areas such as renewable energy, retail, healthcare, technology, and IT.

An important positive development welcomed during the talks was the entry into force of the new Romania-UK Convention for the avoidance of double taxation on income and capital gains, which replaces the previous agreement dating back to 1975. The Romanian ministry noted that the administrative steps for implementing the convention were completed in January, allowing businesses and citizens to immediately benefit from the new rules, which align with OECD standards and provide greater fiscal predictability and transparency.

“We share the vision of a more competitive Europe, and for us this objective primarily means stronger partnerships with the United Kingdom,” minister Țoiu said.

“Our economic partnership is a strong one, with trade exchanges exceeding EUR 10 billion and a positive balance for Romania, while our cooperation as allies helps keep our skies and seas safer. Today, we agreed to launch, by this summer, a joint Romania-UK working group on trade and investment, as well as the roadmap for Romania’s accession to the OECD in 2026,” she added.

Oana Țoiu also noted Romania’s accelerated progress toward Organisation for Economic Co-operation and Development accession, with key milestones planned for the first half of 2026 focusing on corporate governance of state-owned companies, tax administration digitalization, and integrity standards in commercial transactions.

Moreover, the Romanian official reiterated support for closer cooperation between the European Union and the United Kingdom and stressed Romania’s priorities in strengthening defense capabilities, interoperability, defense production, and strategic communication, including continued cooperation with British partners in countering disinformation.

irina.marica@romania-insider.com

(Photo source: Mae.ro)