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Press release: Continued liberalization should improve
efficiency and competitiveness
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1. This third Trade Policy Review of Romania has allowed us to improve
our understanding of the developments in its trade and related
policies since its previous Review in 1999, and of the challenges that
lie ahead. Our dialogue has been thorough and comprehensive,
stimulated by the participation of the Minister delegate for Trade,
Mr. Iuliu Winkler, and his delegation. Our thanks are also due to our
discussant, Ambassador Manzoor Ahmad, for his insightful contribution
to our discussions, and to the Members who have contributed to the
success of this review.
2. Members welcomed Romania's positive overall economic performance
during the last few years, with high GDP growth, and falling
unemployment, inflation and fiscal deficit. They noticed that the
ongoing reforms are contributing to the establishment of a competitive
market economy, and encouraged Romania to continue its structural
reforms, so as to address governance problems and improve its business
environment. The reforms, together with increased investment in
infrastructure and in human capital, would help to further stabilize
the economy, with a particular attention to the external current
account.
3. Members noted Romania's commitment to the multilateral trading
system. Some Members indicated that integration into the EC, planned
for 2007, constitutes Romania's paramount objective; its trade is
increasingly made under bilateral and regional agreements and its
trade regime is progressively aligned on the EC's. Some Members
remarked that Romania's trade would gain from further tariff reforms
that should, inter alia, reduce the margins between applied and bound
MFN rates, mainly on agricultural products. They praised Romania's
wide-ranging 2004-25 strategy to restructure agriculture, but called
attention to the insulation of the sector from competition as a result
of its limited coverage by Romania's preferential trade agreements.
4. Members also commended Romania for the steps being taken to address
inefficiencies in mining, energy, and manufacturing, including the
enactment of new laws and privatization to reduce State involvement in
the economy. Members noted that further liberalization of services may
improve the efficiency of Romania's economy and the competitiveness of
its exports, especially by reducing costs related to financial
services, telecommunications, and transport.
5. Members sought clarification on other issues, notably: customs
procedures; internal taxation; import and export licensing;
contingency trade remedies; standards and SPS measures; export and
investment incentives; public procurement; and protection of
intellectual property rights.
6. Members expressed their appreciation for the responses to their
questions as provided by the Romanian delegation.
7. In conclusion, Members value Romania's efforts to improve its
economic environment. I encourage Romania to continue improving its
multilateral commitments, both on goods and services, with a view to
providing its trade regime with greater predictability and
credibility. Trading partners can help by ensuring that their markets
are fully open to Romania's exports. |
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