Turkey - Romania

BILATERAL RELATIONS AFTER THE COLD WAR

 Countries with a common past, belonging to the

same geographic space and sharing cultural values, Turkey and Romania have relations based on a long past, based on mutual respect. In recent years, traditional cooperation between Romania and Turkey has strengthened, contributing to regional stability and world peace, as allies and partners.

 Today, Romania and Turkey are NATO allies,

partners in the cooperation development policy at the Black Sea and partners in vital projects for the energetic security of Europe. In the process of accession to NATO Turkey was one of the strongest supporters of Romania. Today, Romania is one of the greatest supporters in Turkeys road to join the European Union.

 After 1989, economic and commercial relations have

developed, trade increasing significantly after the signing of the Free Trade Agreement in 1997 and Romanias EU integration in 2007. The total volume of trade equaled 4 billion euros in 2006, 4.8 billion euros in 2007, 5 billion in 2008, 2.9 billion euros in 2009 (-41.6% vs. 2008) and 4.3 billion (+47.2% in 2010 compared to 2009).

 Since 2004, Turkey became Romanias 5th

commercial partner, after Germany, Italy, France and Hungary. Turkey is Romanias first commercial partner outside the EU and, since 2008, the 3rd export partner. For Turkey, Romania is the main economic partner in the Balkans and the second in the Black Sea region (the 11th market for exports and the 12th for imports).

 Romania and Turkey collaborate in strategic projects

in the energetic area, such as construction of the Nabucco pipeline to bring gas from the Caspian Sea region, the submarine power cable between Constana and Istanbul, the exploitation of gas from the Turkish Black Sea economic zone Akcakoca and the construction of hydropower plants in Turkey.

 Turkey is an important investor in Romania, as of

December 31, 2010, 12 036 companies were registered in Romania with Turkish capital, with a total invested capital (direct investment) of 433.1 million euros (531.3 million dollars), being the 14th in the top of the foreign investors.

 The main areas in which Turkish firms have invested

are banks and insurances, industry (food, electronics, textile, manufacture of bearings), shopping centers, hotels, logistic parks, residential and office buildings. GarantiBank, Fiba Holding, Nokta, Erdemir, Kastamonu Entegre, Arcelik, Kombassan, Dogan, Superlit, Pinat Gida, Unver Muharrem, Eregli Demir ve Celik, Ak- Al Tekstil, Garanty Gayrimenkul and Servus Bilgisayar AS are among the most important investors.