Bilateral relations

Economic relations

Romanian - Israeli bilateral relations have already surpassed the hardship of times and in 2013 we will celebrate 65 years of uninterrupted diplomatic relations.

In 2011, the level of the bilateral commercial exchanges amounted to 362,1 million dollars of which the Romanian export reached 194,3 million dollars and the level of Romanian imports from Israel amounted to 167,8 million dollars.

Israel ranks first among the Romanian partners in Africa and Middle East area (first place as import source and second place as the market for Romanian goods).

Israeli investment to Romania

Currently, there are about 4000 Romanian companies established with Israeli participation, either coming directly from Israel or through branches and off-shore Israeli companies located in other countries. Most companies operate in industry (aircraft, foodstuff, textile, cosmetics, etc.) I.T. &C, agriculture, tourism, trade, banking, infrastructure, insurance or real estate, but there are still huge opportunities for profitable co-operation.

The total amount of Israeli projects in Romania reaches more than 2 billion dollars.

Reasons to invest in Romania

Our accession, together with Bulgaria’s, is accomplishing a major political project for the reunification of Europe, started a decade and a half ago. Our accession, which concludes the 5th wave of enlargement, shows once again the fact that Europe has had the vision and the means to overcome the artificial separation brought by the end of the second world war and to expand the area of democracy, security and solidarity.

Our strategic location, neighboring the Black Sea region, the Western Balkans and the former Soviet Union states, represents an important asset for the Union in the region, as well as our participation in various cooperation partnerships in the region. As a NATO member state, Romania has actively taken part in peace keeping operations led not only by the Alliance, but also by the Union.

From an economic point of view, we are bringing into the Union a dynamic economy with a constant growth rate, superior to the one registered in the EU’ s member states, a skilled labor force, a market of 22 million consumers, as well as important business opportunities in many fields.

Advantages - briefly -  in economic field 
 

  • A large domestic market, the second largest in Central Europe
  • An excellent location at the cross-roads of traditional commercial routes, ideally located for goods transiting between: Caspian Sea, Black Sea, Western Europe
  • Available facilities offered by the Free Zones
  • Facilities offered by the Romanian ports. Thus, Constanta Port can serve ships with a capacity of more than 100,000 tdw
  • maritime and river navigation facilities , including oil and petrochemicals terminals on the Black Sea
  • Facilities available in the Romanian shipyards, alongside of Danube river
  • 6 international airports (Henry Coanda and Baneasa Airports in Bucharest and the airports in Timisoara, Cluj, Sibiu, Constanta)
  • Interconnection of the national electricity transport network system to main European networks
  • A national telecommunication network based on optical fibres and large capacity digital equipment integrated in the European optical cables thoroughfares and via satellite
  • Networks of mobile telecommunications in GSM and NMT / LEMS systems
  • The existence of 48 industrial parks
  • A skilled work force, well trained particularly in technology and engineering
  • A wide range of natural resources, including fertile agricultural land, coal, oil and gas and a significant tourist potential
  • A liberal investment legislation, based on free, non-discriminatory access to markets and economic sectors
  • The presence of branch offices and representatives of well-known international banks (City Bank, ABN-AMRO, ING Bank, Chemical Bank, Creditanstallt, Alpha Bank, Erste Bank etc.)
  • Diplomatic relations with 176 countries
  • Compatibility with “acquis communautaire” 
  • Market Economy Status recognized by the US Government (March 2003)
  • Functioning Market Economy recognized by the European Union (November 2003)
  • Member of the UN and of numerous international organizations (associate member in EU, CEFTA, BSEC etc)

On the series of advantages offered by Romania as destination for the foreign direct investments, we must also mention advantages in:

1The taxation field:

  • Law no. 571/2003 regarding the approval of the Fiscal Code, regulating in an unitary form the payment of the fees and taxes, also providing for certain fiscal facilities, thus responding to the requests of the businessmen community in Romania within which an important role is held by the Foreign Investors Council
  • The Government promotes a fiscal relaxation by introducing a new fiscal flat and personal income quota that is applied to the taxable revenues, of 16 %
  • The Foreign investors have the right to transfer the profit abroad; 
  • The investments made in Romania can't be nationalized, with the exception of public interest cases

2. Banking field

  • Access of residents and non-residents to purchasing/selling of foreign currency is free for all the operations that may be performed in compliance with the provisions of the Regulation on foreign exchange regime
  • Convertibility of current transactions is ensured for both residents and non-residents
  • Purchasing/selling of foreign currency may be performed by forex market intermediaries alone
  • Purchasing/selling of foreign currency by resident natural persons via exchange houses and credit institutions is not limited
  • collections and payments may be performed: 
    -  in domestic currency (leu) and in foreign currency - for the operations that are not subject to goods and services trade
    - in domestic currency (leu) - for the operations that are subject to goods and services trade
    - in foreign currency - for the operations that are subject to goods and services trade

Natural persons must declare to customs authorities the cash payment instruments in both domestic and foreign currencies equaling or exceeding the equivalent of EUR 10,000 per person and per travel.

Schedule of the Embassy of Romania in the State of Israel, including the Consular Section on 15th – 16th August 2019

08/14/19

The Embassy of Romania in the State of Israel, including the Consular Section, will be closed on 15th – 16th…

Schedule of the Embassy of Romania in the State of Israel, including the Consular Section on Monday, 17th June 2019

06/11/19

The Embassy of Romania in the State of Israel, including the Consular Section, will be closed on Monday, 17th June, …

Schedule of the Embassy of Romania in the State of Israel, including the Consular Section between 26th April - 1st May 2019

04/22/19

The Embassy of Romania in the State of Israel, including the Consular Section, will be closed between 26th April -…