On October 18, 2018 Bucharest Academy of Economic Studies hosted the round table “Romania – Russia in search of new forms of cooperation”. The organizers were: Chamber of Cultural and Economic cooperation between Russia and Romania (CCECRR), Bucharest Academy of Economic Studies. The event was supported by Financial & Banking Association of Euro-Asian Cooperation (FBA EAC), Russian Union of Industrialists and Entrepreneurs, Press-group Bursa.

The moderators of the round table were Tudor Afanasov, President of CCECRR and Igor Inyushkin, Minister-Counsellor of Russia in Romania.

The participants discussed topical issues of financial and economic relations of Romania and Russia, development prospects, options of the Russian and Romanian markets for distributors and producers, current IT-technologies and their influence on business development and financial and banking system in general.

FBA EAC was represented by the Chairman of Coordinating Council Alexander Murychev and the General Director Oleg Berezovoy.

In his speech Alexander Murychev provided profound analysis of the current relations between Russia and Romania, pointing out that the turnover between the two countries today reaches $3 bn. with export and import being almost equal and thus meeting the potential capacities of the two countries. A. Murychev also stressed that due to sanctions the turnover between Russia and Europe has decreased considerably which led to the tripling of its volume with China. It’s absolutely natural. Business can’t stand any vacuum. Besides with regard to the future cooperation with Russia one should consider the spinning up integration in EAEU. 

After that A. Murychev spoke about ТМК-ARTROM, the most successful Russian company which works on the Romanian market. He also underlined the current demand for Russian partners in such areas as modernization of the Romanian energy and water supply stations, construction of underground gas storages in the country, chemistry, oil equipment production, creation of Russian-Romanian joint ventures in woodworking, light and food industries on the Russian territory.

In conclusion Mr. Murychev said that in the Doing Business Rating our countries aren’t far from each other (Romania - 38 position, Russia – 35) and added that Russia has a huge potential to improve economic situation, to modernize it and raise its effectiveness, which will also contribute to the relations between the two countries.

The General Director of FBA EAC Oleg Berezovoy spoke about the activity of the Association, its program projects and financial instruments which facilitate the work of small and medium enterprises. O. Berezovoy gave some positive examples of international projects on FBA EAC platform with the French and Italian partners. Pending is the agreement between Volga bus and French party to supply electro-buses to France. AREZZO FIERE E CONGRESSI SRL (Italy) initiated a new session Gold-mining – new opportunities and technologies within the V Moscow international financial and economic forum “Eurasian Economic Union and the EU: Search for new formats of cooperation”.

Another joint project is with the French company POD CONSULTING FFF regarding bonds in Euro as alternative to loans. According to the French party this instrument will decrease the burden on importers due to cheaper debt service and lower currency risks. FBA EAC is currently testing this model.

During the “open microphone” Oleg Berezovoy answered the questions about membership in the Association, its principles and future events.  Much interest was paid to the multidiscipline financial and economic magazine “Herald” – Association’s edition.

The round table gathered a lot of interesting people from Europe, Romania and Russia, representatives of parliaments, business and public organizations.

The highly professional and well-organized event confirmed good prospects for the mutually advantageous cooperation between Romania and Russia.