Spain watches us closely

Entering the European Union in the third wave of integration (1986), Spain proved to be very interested in business opportunities the Romanian market offered in past 10 years. At the same time, according to Romanian statistics, following Germany, Spain is the second country “targeted” by the Romanian immigrant workforce. In year 2004, the commercial exchange between the two countries reached a record value of approximately one billion Euros. From the perspective of the economic relations, the Romanian-Spanish relations will know an increasing rhythm in the following period, especially due to the fact that Romania is very “interesting” for the Spanish constructors. Romania is the second market as for size in Eastern Europe, following Poland, and close (and expected) to access to the European Union, and access to European funds represents an opportunity for the Spanish engineering and construction companies, which may offer the Romanian partners their vast experience gained in the past few years in the field of infrastructure development. Spanish investments in Romania have not reached the figure of those in other countries in the Community, but it is important that there is a tendency for increase. With regard to the commercial exchanges between the two countries, in year 2004 these reached a record value of approximately one billion Euros. Spanish exports to Romania increased by 36%, this being the highest increase recorded in the countries candidate for accession into the European Union. Spanish imports from Romania increased by 25%, recording by now a commercial balance favorable to Spain, after a few years of commercial deficit. Among the new members of the European Union and the candidate countries, with regard to commercial exchanges, Romania is situated after Turkey, Poland, the Czech Republic and Hungary. In the previous years, Romania was not really known by Spanish businessmen. But, the high number of Romanian immigrants in Spain contributed to the approach of the two countries. At present, Romania is considered to be a country with great possibilities for Spanish companies, due to the close accession to the European Union, its geographical position and its cultural affinities.

The Ministry of Public Works and the Ministry of Environment in Romania collaborate with their correspondent in Spain for effectuating ample projects. The most important Spanish operators in the Romanian market are the “Invarsa” group with the approximately 40 million Euros they are going to invest in the construction of luxury apartments in Bucharest, the “Iberom” Romanian-Spanish joint

company which has announced its intention to build 15-20 Eolean stations in the Tulcea town area, which represents an investment of approximately 15-20 million Euros, as well as “Five Continents” – part of the “Invarsa” group, which, with a Lebanese partner, invested 2 million Euros in the modernization of a factory in Valcea county. Most assuredly, in the near future, there will be more Spanish construction companies present in Romania, and the opportunities our country offers will be fructified with high efficiency.

Nicolae BALINT