Ooni Koda
  1. Home
  2. /
  3. Newsfeed
  4. /
  5. Kazakh deputy prime minister in Bucharest: Romania is...

Kazakh deputy prime minister in Bucharest: Romania is a top partner in terms of investments, trade

January 11, 2024

  Romania represents a "top partner" of Kazakhstan in terms of investments and trade, the minister of Foreign Affairs of this country, deputy prime minister Murat Nurtleu, declared on Tuesday, during a press statement held at the Ministry of Foreign Affairs headquarters.According to him, the discussions with the minister of Foreign Affairs, Luminita Odobescu, were "significant" and "substantial", practical steps being identified in order to strengthen relations in the political, economic, scientific and cultural fields."Our countries have developed a very good tradition of mutual support, as well as effective collaboration within the UN and within the OECD. When it comes to the European Union, we look forward to continuing our joint work in implementing the objectives we have and which are included in the extended partnership between Kazakhstan and the EU and the European strategy for the South Caucasus. We are committed to expanding the Kazakh-Romanian partnership. (...) Today, Romania is one of the top investment and trade partners in Kazakhstan - fifth in the EU and number 12 globally," he said.Murat Nurtleu specified that, in the last ten months, bilateral trade increased by 9.5% and exceeded 2.3 billion dollars, under the conditions in which 97% of commercial exchanges concern oil refineries. Exports of goods to Romania represented 500 million dollars."Goods such as nuclear energy, chemical products, food products, mechanical engineering and construction have a very high potential. In addition, we offer the Romanian business community opportunities for transit and logistics and technological and material modernization in Kazakhstan," the minister said.Imports from Kazakhstan to Romania reached 37% of the consumption of Romanian refineries."We are committed to maintaining this level, as strategic and investment partners. Exports from Kazakhstan represent 10% of Romania's imports in terms of energy and we thus contribute to the energy security, not only of Europe, but also of Romania," he stated."We will focus on transport and other areas, especially we want to work together on the Trans-Caspian transport road, also known as the median corridor to the Caspian Sea. (...) We want to integrate our logistics and infrastructure to serve the interests of Kazakhstan and Romania. Our seaport and the port of Constanta are the best examples of such cooperation. We expect the 17th meeting of the inter-governmental committee in Bucharest to give even more impetus to the implementation of many promising projects," he stated.   In turn, Romanian  Foreign affairs minister, Luminita Odobescu, underlined on Tuesday at a meeting with the foreign minister of the Republic of Kazakhstan, deputy prime minister Murat Nurtleu, who is visiting Romania, the importance of Kazakhstan in terms of its contribution to Europe's energy security and its geo-strategic relevance for the transport corridors connecting Europe and Asia."During today's discussions we reconfirmed our support for a faster development of an international transport route between the Black Sea and the Caspian Sea. This route will allow a greater flow of goods and services between Europe and Asia via the South Caucasus and Central Asia, transforming our Black Sea and Caspian Sea ports into important hubs between East and West," Odobescu said.The talks were aimed at "actively strengthening" bilateral dialogue and deepening cooperation in areas such as transport and energy."We agreed to maintain this positive momentum and further deepen bilateral cooperation in areas of special importance, such as transport and energy. Our joint commitment is reflected in the joint declaration we signed today on our expanded dialogue and cooperation," said the Romanian foreign minister.Luminita Odobescu reiterated Romania's "clear position regarding the war of aggression" of the Russian Federation and our country's "firm and multidimensional support" towards Ukraine.

Read in full - click here
Grampet Group presents DMU train entirely made in Romania

Electroputere VFU Pașcani, part of the group of private railway companies Grampet, presented on June 19 the diesel multiple unit (DMU) named Leon. The train, designed and made by Electroputere VFU Paşcani, is the first DMU entirely made in Romania in the last 80 years, the company explained.  The three-car DMU has 145 seats, including […]

Audit and advisory company Forvis Mazars launches German-Romanian cross-border desk

Forvis Mazars, the international audit, tax and advisory services partnership, announced the launch of its International German-Romanian Desk, an initiative aimed at addressing the demand for integrated cross-border tax and legal support between Germany and Romania on Thursday, June 19. According to the company, the Desk combines a highly qualified German team of lawyers with […]

Romanian group Simtel receives go-ahead for EUR 30 mln corporate bond program

Simtel (BVB: SMTL), an engineering and technology group listed on the Main Market of the Bucharest Stock Exchange, announced on Thursday, June 19, that the Romanian Financial Supervisory Authority has approved the base prospectus for a corporate bond program of up to EUR 30 million.  The program allows Simtel to issue bonds in multiple tranches […]

Political and fiscal normalization in Romania delayed by president's resistance to VAT rate hike

Romania's efforts to stabilize its fiscal position and finalize a new ruling coalition have been delayed after president Nicușor Dan rejected a proposed VAT rate increase central to a budgetary corrective package agreed by the four pro-Western parties,

Possible bronze-age sword found in eastern Romania during house search

A sword that may date back to the Bronze Age, roughly 3,500 years ago, was found following searches carried out in a case of aggravated theft, in the commune of Corbasca, Bacău County. The searches targeted the home of a 61-year-old man suspected of illegally possessing a cultural asset likely to be part of the […]

Romania’s construction output down 0.5% y/y in April after buoyant Q1

The construction works volume in Romania decreased by 0.5% y/y in gross terms and by 2.8% in workday and seasonal adjusted terms in April, after it boasted a robust 10.6% y/y advance in Q1 (largely on low base effects), according to data published by the statistics office. By type of construction, engineering works—representing approximately 45% […]