Italian Ambassador plans to make Romania on of Italy’s top 10 partners

Furthermore, Cospito said Romania’s tourism segment could be promoted, as the number of Italian tourists coming here is very low.

“I will see it as a great success if, by the end of my term, Romania is among Italy’s top 10 commercial partners. The international framework is not very positive. There will be an improvement of commercial relations, but not as much as it would be expected under different circumstances,” he told Business Standard.

Bilateral trade between Romania and Italy amounted to some €12 billion in 2007. Foreign direct investments by Italian companies totaled 0.8 bln last year. Thus, Italy is one of the top five investors in Romania.

The largest investment so far was the purchase of energy distributor Electrica Muntenia Sud by Italian group Enel, finalized this year, for some €820 million. If privatizations are continued, other major Italian companies could come to Romania. “If you can come up with state-owned companies, such as the ones in telecom, you can provide new opportunities for large foreign investors,” Cospito said.

Besides Enel, other significant Italian companies operating in Romania are Pirelli, Radici, Generali and Parmalat. Furthermore, car manufacturer Fiat is interested in coming to Romania.

In spite of Romania’s EU accession, which brings new opportunities for foreign investors, the country is facing a significant problem for companies that want to do business here - lack of personnel. “Workers shortage is an issue. I’ve had complains from Italian investors in Romania. It’s increasingly difficult to find specialized personnel. A solution must be found,” the Ambassador said.