The economic relationship between Romania and Germany, fundamental for the coherent development of the Romanian economy, is analyzed, with its ups and downs, by Mr. Arvid Enders, Economic Counsellor of the German Embassy in Bucharest, interviewd by HotNews reporter Anne Marie Blajan.
HotNews.ro: Three years ago, Germany was Romania's second business partner, after Italy. How is the situation now and in which sectors do we have a big exchange?
Arvin Enders: Romanian trade with Germany was on a steady rise for the last couple of years making Germany Romania's trading partner #1 in 2007 – and again in 2008. According to INS, the trade volume between Germany and Romania in the first seven months of 2008 reached 7,2 bn € - imports from Germany totalling 4,6 bn € and exports to Germany totalling 2,6 bn €. Compared with with the same period last year, figures increase by 10,8 %.
In 2007 Romania's trade with Germany was almost a quarter of its trade within the EU and 17,1% of its overall foreign trade.
Out of the total 4,98 bn € in 2007, Romania's main exports to Germany were machinery/electrical equipment (24 %), textiles/clothing (16%), vehicles (14%), and equipment for generation and distribution of electricity (12%).
Out of the total 8,76 bn €, Romania's main imports from Germany were vehicles (23%), equipment for generation and distribution of electricity (18%), machinery/electrical equipment (13%), base metals (8 %), textiles (7%) and chemical products (7%).
HotNews.ro: You probably know best which are the complaints of German investors in Romania. Which are these complaints?
Arvin Enders: Parallel to the accelerating bilateral trade, German investment in Romania have significantly increased and are continuing to do so. Nevertheless Romania has room t
