The Sharjah Chamber of Commerce and Industry (SCCI) has engaged in high-level discussions with a Romanian diplomatic delegation, exploring opportunities to strengthen economic cooperation and boost trade.
Both sides also discussed the potential establishment of a Romanian trade representative office in Sharjah to stimulate joint investments and promote participation in events and exhibitions in the emirate.
The two parties addressed the feasibility of organizing joint economic events to showcase available investment opportunities. They discussed leveraging each country’s expertise to establish joint investment projects, thereby facilitating sustainable growth in both economies.
Mr. Abdullah Sultan Al Owais, Chairman of the SCCI, emphasized that such a diplomatic visit would catalyze new opportunities to bolster bilateral economic relations between the UAE and Romania. It is expected to attract Romanian investors and entrepreneurs to Sharjah and pave the way for joint ventures, thereby increasing trade activity between the two countries.
“The non-oil trade exchange between the UAE and Romania had witnessed significant growth, amounting to approximately $1.01 billion in 2022, an impressive 82 percent increase compared to the previous year. Simultaneously, the UAE’s total non-oil exports to Romania stood at an estimated $66 million in 2022, demonstrating a substantial growth rate of 79 percent compared to 2021. This indicates positive economic relations between the two nations. We have a strong desire to invest and establish our presence in Sharjah’s markets, especially in sectors such as manufacturing, food industries, and aviation.”
Welcoming Romania’s interest in Sharjah and shared investment, Mr. Al Owais affirmed the chamber’s commitment to providing comprehensive support to Romanian investors in the emirate, streamlining the capital transfer process for investment, and enhancing the existing economic cooperation relations, adding that Romania represents a promising market and the UAE-Romania economic cooperation relations are experiencing continuous growth.
Mr. Bogdan Octavian Badica, Ambassador of Romania to the UAE, highlighted the benefits of investing in Romania, urging Emirati companies to expand their investments and strengthen their presence in his country to foster new avenues of cooperation and support the growth of reciprocal investments.
“The meeting included discussions on establishing a new basis for cooperation, such as organizing a seminar on investment opportunities and a specialized Romanian exhibition showcasing various industrial and commercial sectors at the Expo Centre Sharjah,” according to the statement.