Supporting the Strong Economic Cooperation between Romania and Italy

H.E. Diego Brasioli, Ambassador of Italy to Romania
H.E. Diego Brasioli, Ambassador of Italy to Romania

Romania and Italy share a very deep and long connection, given their historic relations, their cultural links and a permanent fluctuation of workforce between the two countries. Diego Brasioli, Ambassador of Italy to Romania, discusses their strong economic, political and cultural ties, highlighting the support of the Embassy to numerous Italian businesses in Romania.

European Times: What is your role as an Ambassador to Romania?

Diego Brasioli: As the Italian Ambassador in Romania, assuring the improvement of bilateral relations has been the most important duty of my mandate. Such an important goal could not have been achieved without the indispensable coordination between the Embassy’s consular, political, economic, cultural department, and other supportive organizations, such as the Italian Cultural Institute, Italian Trade Institute, the Chamber of Commerce, and local Italian-Romanian associations.

The economic indicators show a high level of bilateral trade, approximately €14 billion, which surpasses the trade volume between Italy and countries such as Brazil, Canada or Japan. Italy is therefore the second partner of Romania. In this context, the Embassy provides strong support to the business sector, closely cooperating with entities such as the Italian Trade Institute and the Confederation of Italian Industry, Confindustria, which opened here as its first office abroad.

Diego Brasioli: As the Italian Ambassador in Romania, assuring the improvement of bilateral relations has been the most important duty of my mandate. Such an important goal could not have been achieved without the indispensable coordination between the Embassy’s consular, political, economic, cultural department, and other supportive organizations, such as the Italian Cultural Institute, Italian Trade Institute, the Chamber of Commerce, and local Italian-Romanian associations.

The economic indicators show a high level of bilateral trade, approximately €14 billion, which surpasses the trade volume between Italy and countries such as Brazil, Canada or Japan. Italy is therefore the second partner of Romania. In this context, the Embassy provides strong support to the business sector, closely cooperating with entities such as the Italian Trade Institute and the Confederation of Italian Industry, Confindustria, which opened here as its first office abroad.

European Times: What are the specific areas of interest for Italian investors in Romania?

Diego Brasioli: There is a growing interest of Italian companies in all production sectors, starting from energy, agriculture, agro industry, and the IT sector, as shown by the recent growth of investments in this field. There are more than 20.000 registered and active Italian companies in Romania, a number that shows significant rates of annual growth. These investments are attracted by the good macroeconomic data in terms of GDP growth, inflation and unemployment rate that the country offers.

Many relevant Italian firms are active in the country, such as Prysmian, Tenaris, Unicredit, Intesa San Paolo, Pirelli and Enel, (which provides for around one third of the Romanian demand of energy). Over the past few years some of these companies have increased their investments in the country. This is the case, for instance, of Prysmian and Pirelli, which has started to produce Formula 1 tires in Slatina. The country also attracts small investors providing a positive environment, in economic and social terms. These businesses are fully integrated in the Romanian society, providing support for the initiatives of NGOs, especially in the rural areas. This deep social engagement is proof of the long standing commitment of Italian investors in the country.

European times: Why should foreign investors target Romania?

Diego Brasioli: Romania is a country with good opportunities and a great potential for foreign investments. Its skilled and motivated human capital, as well as its great IT infrastructures, are leading the country to a remarkable economic growth, also creating the conditions for bigger foreign direct investments. Furthermore, I would like to stress that not only does Romania offer the ideal conditions to invest and develop industrial businesses, but it displays a great potential in the tourism sector. Its unique natural and artistic beauties never cease to surprise you.