The United States reaffirms its unwavering dedication to the objectives of the Three Seas Initiative, highlighting its readiness to collaborate closely with partner countries in advancing this vital initiative. Special Presidential Envoy for Climate Change John Kerry will lead the distinguished U.S. delegation at the Three Seas Initiative Presidential Summit, scheduled for September 6-7, 2023, in Bucharest, Romania. Distinguished U.S. Delegation: John Kerry: Special Presidential Envoy for Climate Change Reta Jo Lewis: Chair, U.S. Export-Import Bank (EXIM) Geoffrey Pyatt: Assistant Secretary of State for Energy Resources Representatives from the Department of Commerce, Department of Energy, and the Development Finance Corporation The Three Seas Initiative Summit serves as a key platform for advancing regional interconnectivity, bolstering energy security, and fostering sustainable progress. The U.S. delegation's robust participation underscores the United States' enduring commitment to collaborative efforts that drive growth and resilience across the region. Against the backdrop of Russia's unprovoked war on Ukraine, the significance of the Three Seas Initiative resonates more deeply, emphasizing the importance of secure energy systems, robust transportation infrastructure, and resilient communication networks. The Three Seas Initiative is in direct alignment with the United States' unwavering commitment to driving innovation, cultivating job opportunities, and nurturing sustained economic prosperity. As the summit unfolds, the U.S. delegation remains steadfast in forging collaborative solutions that transcend borders and ignite enduring stability. We extend our appreciation to President Iohannis of Romania for graciously hosting this event and for advancing the goals of the Three Seas Initiative. (Source: Public Diplomacy – Press Office U.S. Embassy-Bucharest)
Romania’s Competition Council has approved the acquisition of Karamolegos Bakery Romania by Vel Pitar, a company fully owned by global bakery group Bimbo, the authority announced on May 12. Karamolegos Bakery Romania is involved in the production and sale of packaged bread under brands such as KB Toast, KB Selected, and Mândra. It also supplies […]
The National Bank of Romania (BNR) probably spent/sold EUR 6 billion of its foreign exchange reserves to prop up the local currency (leu) last week after the victory of far-right presidential candidate George Simion in the first round of elections, which led to the collapse of the government, according to an analysis by Austrian bank […]
Romania’s foreign trade deficit (goods) widened by 27% y/y to EUR 8.45 billion in Q1, according to data published by the statistics office INS. Exports rose by 2.7% y/y while imports surged by 8.1% y/y. Romania’s deficit in foreign trade in goods has reached EUR 35.2 billion in the four quarters to March 2025, or […]
Romania’s Treasury has launched new issues of government bonds under the Tezaur and Fidelis schemes, paying yields of 6.75% (1-year) to 7.8% (5-year) for the local currency debt and up to 6.25% (7-year) for euros. After the Treasury raised RON 21.4 billion (EUR 4 billion) under the two schemes year to date, the households’ demand […]
Romania’s Treasury on May 12 placed RON 540 million (EUR 100 million) of Government bonds on the domestic market at an average yield of 8.45% by reopening an issue that matures at the end of July 2026, according to the National Bank (BNR). The yield is 1.5 percentage points up from roughly two weeks earlier, […]
With five days remaining until the second round of Romania's presidential elections on Sunday, May 18, the race between far-right leader George Simion and independent candidate Nicușor Dan is extremely close, according to an AtlasIntel opinion poll conducted for
