China-Romania Ties
Romanian PM seeks more investments from China
Last Updated: 2011-08-16 03:12 | Xinhua
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Romanian Prime Minister Emil Boc tried to invite more investments from China during his first visit to the country since assuming office in 2009.

"The Romanian government presented to the Chinese Premier five important projects," Boc told Xinhua in an interview after his official talks with his Chinese counterpart Wen Jiabao Monday afternoon.

"China is invited to invest in Romania in infrastructure, energy, transport and agriculture," he said, adding that each of the projects "is worth more than one billion euros."

"And we are glad to see that the Chinese Premier is interested in developing such a collaboration," Boc said.

On his part, Wen pledged to expand country-to-country investment in infrastructure with Romania to strengthen economic ties between the two countries.

"The Chinese government is positive about promoting funding, contract and technological cooperation with Romania in infrastructure construction," Wen said during his talks with Boc.

Romania is a major destination of Chinese investments in central and eastern Europe, and bilateral trade stood at 3.76 billion U.S. dollars in 2010.

During the interview, Boc said the two nations should take advantage of their solid political ties to expand economic cooperation.

Boc used "friendship" and "respect" to describe the bilateral ties between China and Romania, saying that the two countries should use such an advantage in their cooperation to implement the projects "in this world of competition and in this globalization era."

The two countries forged diplomatic ties as early as on Oct. 5, 1949, only four days after the founding of the People's Republic of China.

"We have a heart-to-heart relationship, not just a tactical relationship, between China and Romania," Boc said.

When talking about Romania's experience to counter the global financial crisis, Boc said "you cannot consume more than you produce."

He believed that more money should be used for investment rather than consumption especially in a time of crisis because investment can create more jobs and benefit the people.

Boc said Romania has managed to get its economy back on track with a series of measures, including cutting government spending to spare money for investment.

According to his estimate, Romania's GDP will grow by 1.5 percent this year and 3.5 percent to 4 percent in 2012, in contrast to -7 percent in 2009.

"At this moment, Romania is better prepared than in 2008 in case of a new wave of economic crisis," Boc said.

The prime minister said that the macro-economic environment is sound for foreign investments as the country's budgetary deficit and public debt are well under control, especially compared with some other members of the European Union.

Romania's flat tax rate and low labor cost can also help to attract foreign investments, Boc said.

A public-private partnership law adopted last year, which allows foreign investments in Romania, brought the country new opportunities to develop great projects of infrastructure, he added.

On Monday morning, the prime minister also attended a China-Romania economic forum held in Beijing, introducing the business environment and the projects to an audience of scores of Chinese businessmen.

Boc arrived in China on Aug. 11 and is scheduled to leave on Aug. 16. During his stay in China, he also met with Chinese President Hu Jintao in the southern city of Shenzhen and attended the opening ceremony of the 26th Summer Universiade held there.

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