Romania and Israel to Cooperate in the Natural Gas Sector

Romania and Israel want to boost collaboration in the energy sector after gas reserves have recently been discovered in Israel and specialists in the two states could make a useful exchange of expertise. This is one of the conclusions of the meeting that the President of the Chamber of Commerce and Industry of Romania (CCIR), Mihai Daraban, had on May 10 with H.E. David Saranga, Israel’s Ambassador in Romania. The meeting was mainly aimed at analysing the status of economic cooperation between the two states and identifying the optimal ways to consolidate bilateral economic relationships.

“Between the two states there is a high level of economic cooperation, with over 8,000 companies with Israeli capital registered in Romania. Although the volume of exchanges of products and services is close to EUR 1 billion, we all agree that the potential of the two states is much higher. Only if we consider that, recently, gas reserves have been discovered in Israel, we can definitely identify opportunities of cooperation between specialists of the two states in the energy sector. In this context, it becomes very important to know in due time the size, turnover and interest in the Romanian market of Israeli companies,” said CCIR President Mihai Daraban.

In turn, Israel’s Ambassador in Romania David Saranga pointed out: “For Israel, economic cooperation with Romania is a top priority. Therefore, we will need to boost dialogue between the representatives of companies in the two states. We can develop intense relationships in economic sectors such as: agriculture, water management, cybersecurity, health, and digital health solutions. As you know, Israel is leader in innovation and digitization, things that Romania can also take full advantage of.”

According to data from the National Trade Register Office, the total volume of trade between Romania and Israel amounted to EUR 570.15 million at the end of 2020. In March 2021, 8,298 Israeli companies were operating in Romania, with a total value of the subscribed capital of EUR 64,04 million.

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