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Economic relations
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United Kingdom of Great Britain and Northern Ireland remained one of the most important trade partners of Romania in EU, occupying the following positions in Q1 2012: - 6th place among the EU market destinations of exports and 7th place on the top of Romania’s external markets; - 2nd place among the EU members states with a trade surplus and 7th place among the all trade partners’ countries with positive contribution to Romania’s trade balance.
Bilateral trade have maintained a constant level of growth in the last 10 years, reaching in 2011 the highest level in the history of bilateral relations.
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According to the Romanian statistics, the total bilateral trade amounted, in Q1 2012, to 697.76 millions Euros (UK occupying the 11th place among the top commercial partners of Romania, with a share of 2.94% in the total trade of our country and the 9th place among the EU member states), being with 8.92% higher than the volume registered in the same period of the previous year.
 
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EXPORTS
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IMPORTS
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Romanian exports to the UK market grew by 12.07% in Q1 2012 compared to Q1 2011, reaching 386.42 million Euros (7th place in the top countries of destination of goods shipped from our country, accounting 3.50% in total exports of Romania, 6th place between UE member states) and imports of Romania from UK have increased by 5.25% to 311.34 million Euros (13th place among the top supplying countries, owning a share of 2.44% in the total imports of Romania and the 9th place among the EU member states).
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Regarding Romania’s imports from UK, they were concentrated, in Q1 2012, on the following groups of products:
► machinery and electrical parts thereof (27% of the total imports of Romania from UK)
► textiles and clothing (21.4%)
► chemical products (16%),
► vehicles, aircraft and transport equipment (13.4%)
► base metals and articles thereof (6.4%) and plastics (5.5%)
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Reasons to invest in Romania
When considering Romania as a possible location for developing their businesses, foreign investors take a close look to the advantages provided by our country:
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Market & Location Advantage
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Resource Advantage
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• One of the largest markets in Central and Eastern Europe (ranking 7th in EU , with over 21 million inhabitants);
• EU unique market gateway (access to approximately 500 million consumers);
• Attractive location: situated at the turning point between EU, the Balkans and CIS countries, Romania is crossed by three important pan-European transportation corridors: corridor no. IV linking Western and Eastern Europe, corridor no. IX connecting Northern and Southern Europe and no. VII – Danube River, facilitating inland water transportation, at the same time connecting the Romanian Port of Constanta (the biggest Port to the Black Sea) to Northern Europe, through the Rhine.
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• Highly skilled labor force at competitive prices (solid knowledge in foreign languages, technology, IT, engineering, etc);
• Rich natural resources, including surface and underground waters, fertile agricultural land, oil and gas;
High potential for tourism.
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Political Advantage
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IR Advantage
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• Stability factor in the Area - NATO membership;
• Stability Guarantee in South Eastern Europe;
• EU membership.
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• Bilateral agreements between Romania and other countries on investments promotion and protection;
• Bilateral diplomatic relations with 177 out of the 191 UN member states, plus the Holy See, the Sovereign Military Order of Malta and the Palestinian National Authority;
• Member of the UN and other international organizations, like: OSCE, Council of Europe and International Organization of La Francophonie;
• Free trade agreements with EU, EFTA countries, CEFTA countries;
• WTO member since January 1995.
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Economic Advantages
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Legislative Advantages
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• State aid schemes for encouraging investors to take upon Romania;
• Major interest of Foreign Investors – leader destination for FDI in the region;
• Sound fiscal policy (16% flat tax)
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• Similar legal provisions as in EU (AcquisCommunautaire implementation);
• Fiscal policy regulated by the Fiscal Code.
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Social Advantages
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Other Advantages
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• Agreement between Government and major unions;
• No major union movements;
• Labor relations regulated by the Romanian Labor Code.
 
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• Similar legal provisions as in EU (AcquisCommunautaire implementation);
• Fiscal policy regulated by the Fiscal Code.
• Continuously improving infrastructure (Executive’s commitment to improve the highway infrastructure to EU standards);
• Well-developed networks of mobile telecommunications in GSM systems;
• Highly developed industrial infrastructure, including oil and petrochemicals;
• Presence of branch offices and representatives of various well-known international banks;
• Extensive maritime and river navigation facilities.
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British investment
Attracting the foreign investors in Romania - The British investments are concentrated on the following sectors:
- Mining and quarrying and manufacturing: 48.79%
- Professional, administrative, scientific and technical: 17.81%
- Wholesale and retail: 13.73%
- Financial and insurance: 9.09%
- Agriculture, forestry and fishing: 3.21%;
- Real estate: 2.66%
- Transport, storage and communication: 2.26%
- Construction: 1.96%.
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Main companies with British capital investing in Romania
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RENAULT TECHNOLOGIE ROUMANIE SRL
Field of activity: Engineering and technical consultancy
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AVIVA ASIGURARI DE VIATA SA
Field of activity: Life insuranc
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E.ON ROMANIA SRL
Field of activity: Business and management activity
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SBS BROADCASTING MEDIA SRL
Field of activity: Media broadcasting
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GLAXOSMITHKLINE (GSK) SRL
Field of activity: Pharmacy
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GALAXY TOBACCO SA
Field of activity: Tobacco industry
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OMV PETROM SA
Field of activity: Oil industry
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FERAL SRL
Field of activity: Production of ferrous metals
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SEWS ROMANIA SRL
Field of activity: Production of metallic articles, chains and springs
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HOEGANAES CORPORATION EUROPE SA
Field of activity: Production of ferrous metals
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source: http://londra.mae.ro/en
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