The leadership of the Chamber of Commerce and Industry of Romania (CCIR) has unanimously decided to support the free trade agreement between the European Union (EU) and Mercosur, thereby endorsing the decision made by the Association of European Chambers of Commerce (Eurochambres) at its General Assembly in November 2024.
According to a press release, CCIR stresses that the EU-Mercosur agreement is not limited to agriculture but also provides for free trade and the gradual elimination of more than 90% of customs duties between the two economic blocs, creating a new market for European and Romanian products.
'What is essential for Romania's economy is that this agreement significantly facilitates access to the Mercosur market for cars and spare parts, chemical and pharmaceutical products, as well as industrial machinery,' the press release reads.
CCIR believes that this agreement must be approached objectively and pragmatically, taking into account the structure of the national economy. According to the source, in Romania, industry continues to generate around 30% of gross domestic product, and the country produces assemblies and sub-assemblies for a wide range of car makes and brands in Western Europe, as well as essential components in the white goods, energy and pharmaceutical sectors.
'The automotive sector in Romania creates more than two hundred thousand jobs, to which are added several tens of thousands more in related industries producing equipment and non-automotive components. The Romanian economy is a subcontracting economy, and the entire industry is connected to the super-industrialised countries of Western Europe. When Germany's economy grows by 1%, Romania grows by 4%. This correlation is not accidental, as 24% of Romania's foreign trade is conducted with Germany. Objectively speaking, the agricultural sector in Romania accounts for 4.5% of GDP, while at EU level this sector represents between 1% and 1.5%. It is time to move beyond sterile debates and focus on our own performance in agriculture and animal husbandry. We must become competitive, especially on the domestic market, and the state bodies responsible for quality control must fulfil their duty to Romanian consumers,' CCIR President Mihai Daraban is quoted in the press release as saying.
In this context, CCIR believes that the EU-Mercosur Agreement represents a strategic opportunity to strengthen Romania's position as a regional industrial hub and to diversify the export markets of Romanian companies.
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