THE WEEK IN REVIEW

November 4-8, 2024

Corina Cristea, 09.11.2024, 13:39

President Klaus Iohannis at the summit of the European Political Community in Budapest

Romania’s accession to the Schengen Area is not only a political objective, but a firm commitment to the European project, President Klaus Iohannis said at the fifth summit of the European Political Community, held on Thursday and Friday in Budapest. On the other hand, the Romanian head of state drew attention to the fact that migration remains an important challenge at the European level, which requires a common and comprehensive response. The results of the US elections were also in the attention of the participants, gathered to discuss mainly about increasing competitiveness. European leaders called on Donald Trump to avoid trade wars, maintain support for Ukraine, and refrain from disrupting the global order. Hungarian Prime Minister Viktor Orban said that all 42 European leaders present agreed that they must take responsibility for their own security and stop relying on the United States. Donald Trump was congratulated by the international community for his victory in the American elections. In his message, President Klaus Iohannis recalled that Romania is a strong and committed strategic ally of the United States.

Prime Minister Marcel Ciolacu’s visit to Paris

In Paris, the Romanian Prime Ministers, Marcel Ciolacu, and French PM Michel Barnier, discussed the consolidation of the bilateral Strategic Partnership, concluded in 2008, with an emphasis on the economic and defense components. The two heads of government established that investments in key areas, such as IT, aeronautics and energy, are essential. The doubling of the volume of bilateral trade in the 16 years of Strategic Partnership, its upward trend, and economic relations with tradition, such as Dacia Renault, represent solid arguments to continue the cooperation in a consolidated form – said Marcel Ciolacu. The head of the government in Bucharest appreciated the solid cooperation in security matters, as well as the fact that, by a decision of President Emmanuel Macron, France assumed the role of framework nation of the NATO Battle Group in Romania, immediately after the invasion of Ukraine by Russia, an essential element for consolidating the Alliance’s position on the eastern flank. France’s desire to increase its military presence in Romania, which currently stands at 800 soldiers, was also highlighted.

Romania – Japan cooperation

On Tuesday, in Bucharest, the head of the Romanian executive had a meeting with a delegation of Japanese investors from the fields of energy, research and technology, industry, infrastructure, and banking, led by the Japanese Deputy Minister of Economy, Trade, and Industry, Shinji Takeuchi. On this occasion, the level of bilateral relations developed on the basis of the Strategic Partnership, the common values promoted by the two countries, and the economic opportunities offered by the current international context, was evaluated. According to Prime Minister Marcel Ciolacu, Romania’s role as a factor of stability in Europe and in the region, as well as its geostrategic, economic, and political advantages qualify the country as a destination for investors. For its part, the Japanese economic delegation showed its interest in strengthening financial support for Romania in projects in the fields of transport infrastructure, energy, digitization, and high technology. Previously, during the first edition of the Romania-Japan Energy Forum that took place on Monday and Tuesday,in Bucharest, the Ministry of Energy signed a memorandum of understanding with a Japanese company for the Tarniţa-Lăpuştești hydropower plant project, in Cluj county (north-west Romania ). ELCEN (the Elecrocentrale Bucharest State Company) and Panasonic are working on a joint project aimed at a complex system of photovoltaic panels, battery storage, and green hydrogen production.

Roxana Mînzatu, Romania’s proposal for the position of European Commissioner, received approval in the Parliament from Bucharest

The proposal of the Romanian Government for the position of European Commissioner in the future Community Executive, Social Democrat Roxana Mînzatu, was approved, on Tuesday, by the specialized commissions of the Parliament in Bucharest. The MEP, appointed by Ursula von der Leyen, vice-president of the European Commission, would hold the “People, skills and training” portfolio. In this capacity, she said, she will be responsible for approximately 20% of the Union’s multiannual budget. Roxana Mînzatu specified that the position of executive vice-president of the Commission includes coordination in the area of preparation for emergency situations. For Roxana Mînzatu, a new round of hearings follows, on November 12, this time in the European Parliament’s Committees on Employment and, respectively, Culture and Education.

IMF visit to Bucharest

A mission of the International Monetary Fund visited Bucharest this week for discussions with Romanian officials about the latest economic developments. It is a regular visit to evaluate and update macroeconomic perspectives, with several components: inflation, balance of payments, public debt and budget deficit, as well as monetary and fiscal policy. The delegation had meetings in particular at the Central Bank and the Ministry of Finance. Currently, Romania does not have an agreement with the Fund.