FinMin Nazare agrees with Greek counterpart to strengthen economic cooperation between Romania and Greece

   The strengthening of economic cooperation between Romania and Greece, especially in the areas of energy, infrastructure and investments, as well as close collaboration regarding fiscal modernisation and the digitalisation of financial administrations, were among the topics discussed in Athens by the Romanian and Greek Finance Ministers, Alexandru Nazare and Kyriakos Pierrakakis."Reunion with my counterpart, Kyriakos Pierrakakis, Greece's Minister of Finance, on the sidelines of the P-TEC [the Partnership for Transatlantic Energy Cooperation] - the forum dedicated to strengthening economic cooperation between Europe and the United States in Athens. I discussed with the Greek Finance Minister about the strengthening of economic cooperation between Romania and Greece, especially in the areas of energy, infrastructure and investments. A central point was the Vertical Natural Gas Transmission Corridor, an essential project for the region's energy security. We also agreed to continue close collaboration on European topics - including the fiscal modernisation and the digitalisation of financial administrations," the Romanian minister wrote on his Facebook page on Saturday.He thanked Greece for its constant support for Romania in the processes of joining the Schengen Area and the Organisation for Economic Co-operation and Development (OECD)."Our relationship remains one of trust and friendship, based on common objectives and the desire to build a safer and more competitive Europe in which our countries play an increasingly important role. We continue to rely on Greece's support in promoting common approaches within the ECOFIN, including regarding the development of the Capital Markets Union, which is essential for attracting private investment in the region. We also count on the Greek expertise in developing public-private partnerships (PPP) in order to co-finance impactful projects for Romania," Minister Alexandru Nazare said.Finance Minister Alexandru Nazare attended the P-TEC Forum held in Athens."First day at the P-TEC - Partnership for Transatlantic Economic Cooperation, an event dedicated to strengthening economic cooperation between Europe and the United States, held in Athens. The discussions focused on strategic investments, the energy transition and the new fiscal policies needed to endorse sustainable economic growth in the global context," the Finance Minister wrote on Facebook on Thursday.He also met with the United States Secretary of Energy, Chris Wright, with whom he discussed about the Vertical Energy Corridor initiative - a strategic project which Romania has supported since 2016."I underscored that Romania supports the Vertical Corridor as a sustainable pillar of European energy security. Our immediate priority is strengthening Route 1 (the main natural gas transmission route from Greece to Romania, through Bulgaria, the core component of the Vertical Corridor) which has proved technical feasibility and commercial competitiveness, including through the reduction of tariffs at interconnection points with the Republic of Moldova," Nazare mentioned.The discussions also tackled the expansion of Routes 2 and 3 (complementary routes aimed at diversifying energy flows - Route 2 linking Romania to the energy infrastructure of Ukraine and the Republic of Moldova, and Route 3 targeting the extension of energy connections to the Black Sea and the Caspian region) within a well-calibrated framework, based on European grants and transatlantic financial instruments designed to combine efficiency with fiscal responsibility, the Finance Minister pointed out."In this context, I launched the idea of organising a large-scale event in Bucharest to further develop the topics of today's dialogue. From the perspective of the Ministry of Finance, Romania remains committed to a balanced approach - a strategic commitment anchored in fiscal responsibility, with an emphasis on the efficient use of European funds and cooperation with the US financial institutions," the quoted source added.On Thursday, the Finance Minister also met with Jarrod Agen, the Executive Director of the US Energy Dominance Council, with whom he continued the discussions started in Washington last month regarding the Romanian-US energy partnership.