Romania seeks a new economic development model focused on innovation and competitiveness, President Klaus Iohannis said on Wednesday, stressing that the country's economy has reached "a level of consolidation and performance capable of attracting large-scale investments from German companies."
The head of the state participated alongside visiting German President Joachim Gauck in a meeting with representatives of Romanian and German companies. "My presence at today's event together with President Joachim Gauck is intended to reaffirm our steady long-term commitment to the expansion of economic cooperation in multiple fields such as trade, industry and education, programs designed to generate new economic opportunities for Romania and Germany and particularly new German investments in the Romanian economy," said Iohannis.
According to him, Germany is "one of Romania's most important strategic dialogue partners, but also an example of successful development model." "In the last 10 years, our trade relations have doubled. For example, 2015 marked a milestone because both total trade exchanges and Romanian exports to Germany hit a peak, at over 23 billion euros and 11 billion euros, respectively," said President Iohannis. He went on to say that German investments in Romania have topped 7.5 billion euros, "placing Germany third in the ranking of foreign investors."
According to Iohannis "Romania seeks a new economic development model, focused on innovation and competitiveness, capable of performing through high added value and productivity, aspects where Germany excels." The President said that Romania's economic growth projection is "of over 4 percent, on the background of financial stability and highly favorable prospects for the capital market."
"Economic competitiveness depends on the quality of the business environment in which the entrepreneurs perform their activity. In this regard we must improve the institutional quality of the business environment by scrapping unwanted and unnecessary practices, by increasing transparency, but mainly by reducing corruption, which is the biggest enemy of a healthy economic development," said Iohannis.
He added that the educational system must be tailored to the actual needs of the economy to create the necessary bridge between school and the labor market. "Over 25 percent of Romanian university graduates seek technical studies and another 25 percent choose business and economy. In this context, we welcome the implementation in Brasov, through the cooperation of German companies with the Romanian authorities, of a pilot project for dual education," Iohannis said.
He mentioned that the Government presented a legislative proposal to improve the legal framework for vocational education, also by incorporating the German "dual training" pattern.
Iohannis said that the recent economic crisis has to a certain extent dented the European economy, but at the same time "it has ushered in new opportunities and new imperatives for reform."
According to the President these opportunities are designed "to strengthen the European project in its most authentic spirit of free movement, competitiveness, rule of law and respect for democratic values."
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