The Romania - Kazakhstan joint intergovernmental committee on economic cooperation signed a cooperation protocol which envisages, among others, the acceleration of investments and bilateral trade, Energy Minister Sebastian Burduja announced on Friday.The document was signed by the two Energy Ministers, Sebastian Burduja and Almassadam Satkaliyev.Burduja told a press conference at the Victoria Palace of Government that Romania - Kazakhstan bilateral trade reached 2.8 billion dollars in the first 11 months of 2023, but Romania's exports account for a rather modest 112 million dollars of this amount, despite having doubled compared to 2022."This is why we are interested in diversifying trade and investments, and we have found openness on the part of our Kazakh partners. In terms of energy, you know of course that Kazakhstan's most important investment is that in Rompetrol, where KazMunayGaz is the majority shareholder, and we approached several topics related to Rompetrol. We asked Minister Satkaliyev and his colleagues to expedite Rompetrol investments in Romania from the Romanian-Kazakh Investment Fund, including in green energy, and also to observe the strictest work security and safety standards, following investment plans and maintenance. As regards the nuclear field, Romania's Nuclearelectrica has a very close relationship with partners in Kazakhstan. It is probably the most important uranium producer and amid the ongoing Romanian civil nuclear program, it is very important that we have uranium reserves to rely on," said the Romanian energy minister.The cooperation protocol also provides for transport cooperation, so that Romania and Kazakhstan will work together to connect the Caspian Sea to the Black Sea region. Companies from both countries will engage in developing the full potential of the Trans-Caspian International Transport Corridor, integrating the modal and logistics transport infrastructure. In this regard, a memorandum of understanding was signed on January 31, 2024 between the Romanian Ministry of Transport and Infrastructure and the Kazakh Ministry of Transport, which sets forth a concrete plan of action and a calendar for strengthening transport links.
A growing number of Romanian employees are facing emotional difficulties, with 63.6% reporting they are currently going through a challenging period, according to the latest survey conducted by the online recruitment platform eJobs. The leading cause, cited by 22.2% of respondents, is insufficient income to cover their daily expenses. Other factors include personal problems (14.5%) […]
Romania carried out a medical evacuation mission to assist Palestinian civilians from the Gaza Strip, continuing its humanitarian support amid the ongoing crisis. A C-27J Spartan aircraft operated by the Romanian Air Force transported 12 severely ill Palestinian patients, along with 21 accompanying family members, to Romania for medical care. The aircraft departed from Otopeni […]
Bucharest mayor and independent presidential candidate Nicușor Dan is ahead of George Simion, the leader of far-right party AUR, in voting intentions, according to a poll presented on Thursday, May 15, by the independent public opinion polling institute IRSOP. This is the first time that the former takes the lead in the race for president. […]
Romanian retail chain La Cocoş recorded a turnover of RON 1.18 billion (EUR 237 million) in 2024, marking a 20.7% y/y increase and becoming the first domestically owned retailer to exceed the RON 1 billion benchmark, according to Ziarul Financiar. Founded in 2014 by entrepreneur Iulian Nica, La Cocoş...
Even though Romania's currency, RON (leu), has depreciated relatively steeply in the past weeks, compared to historic low volatility, ING Romania maintains its exchange rate forecast for this year and argues that the national currency could recover from recent losses. "However, it is important to look at the bigger picture: financial markets can often have […]
Romania's industrial production index contracted by 4.2% y/y in Q1 and neared the lowest level in the past three years, according to the statistics office INS. The seasonal and workday-adjusted index (-0.4% q/q) has followed a visible downward trend after the post-Covid recovery in 2021 and 2022. The seasonal and workday-adjusted index in Q1 was […]
