19 July, 2017

19 july, 2017 European Investment Bank approves 1 bn euro loan to Romania for transport infrastructure./ Romania hosts NATO Tobruq Legacy air defence exercise.

Republic of Moldova visit. The Romanian prime minister Mihai Tudose travels to the majority Romanian speaking Republic of Moldova on Friday. He is due to meet this country's pro-western prime minister Pavel Filip for talks on expanding bilateral cooperation and Bucharest's support for Moldova's European path. The media in Chisinau note that the agenda of the Romanian prime minister does not include talks with the republic's pro-Russian and Socialist president, Igor Dodon. Moldova is the second foreign trip made by Tudose since he took office at the end of June. He first travelled to Brussels last week, where he told EU officials that Romania has "the immense task of ensuring that Moldova stays on its pro-European course."

Romania-Serbia. Romania supports neighbouring Serbia in its bid to join the European Union and is ready to intensify cooperation for a further development of its traditionally good relations with Serbia, said Romania's ambassador in Belgrade Oana Cristina Popa during talks with the Serbian labour minister Zoran Đorđević. The latter thanked Bucharest for its support and called for better cooperation in his field. A constant supporter of Serbia's territorial integrity, Romania is one of the five EU member states yet to recognise the independence of the southern province of Kosovo with a majority Albanian population, but has urged Belgrade to respect the rights of the sizeable ethnic Romanian minority in Vojvodina and in Timoc Valley, in the east.

Brexit effects. The Brexit effect on the local economy may translate into a drop in external demand for Romanian products and in the flow of direct foreign investments, the National Bank of Romania estimates. In a report assessing the implication of Brexit on the Romanian economy, central bank experts believe the direct and predictable negative effect in the medium run includes the diminution of the European budget and thus of structural funds. The amount of Romania's trade exchanges with the UK is relatively low, with exports to Britain accounting for less than 5% of total exports and imports accounting for 2% of total imports. On the other hand, the UK has become a destination for Romanian migrants relatively recently, when labour restrictions were lifted on the 1st of January 2014. The UK is expected to leave the European Union in the first half of 2019, when Romania will be holding the rotating presidency of the EU Council.

Loan. The European Investment Bank is to grant a loan of 1 billion euros to Bucharest to co-finance priority transport infrastructure projects benefiting from European structural and investment funds. The loan has a maturity of up to 25 years, including a 7-year period of grace, with each withdrawal being considered a loan in itself, with its own maturity and period of grace. The loan will cover the state budget contribution that co-finances priority transport projects under the Large Infrastructure Operational Programme 2014-2020. The investments will benefit from non-reimbursable funds from the EU and will be used to promote sustainable transportation and eliminate obstructions in the transport infrastructure network. Emphasis will be placed on multimodal transport systems and reducing the impact of transport on the environment, the relevant Romanian ministry says in a press release.

NATO exercise.  Around 1,000 military from 16 NATO member states are participating in an air defence exercise known as TOBRUQ LEGACY 2017. Drills are held today as part of this exercise at the shooting range in Capul Midia, south-eastern Romania, and involve troops from Romania, the US and Slovenia. TOBRUQ LEGACY 2017 is hosted by three countries, the Czech Republic, Lithuania and Romania, and forms part of the Saber Guardian 2017 exercise. Aimed at enhancing interoperability between different air defence forces in Europe, Saber Guardian is the largest exercise carried out in this part of Europe, involving 25,000 military from 22 allied and partner states.

Ranking. Romania is one of the countries to make greatest progress in terms of the ability to adjust to significant changes, shows a report published on Wednesday by the consultancy firm KPMG and quoted by Reuters. Romania now ranks 49th, up 32 places from 2015, in a ranking made by KPMG. Romania is behind countries like the Czech Republic, Poland and Hungary, and ahead of Turkey, Russia and Ukraine. The study measures the ability of 135 states to respond to short-term shocks and long-term tendencies such as natural disasters, economic crises and climate changes.

Football. The Romanian side Astra Giurgiu are in Azerbaijan, where they are due to play against Zira FK on Thursday, in the final leg of the Europa League second preliminary round. In the fist leg at home, Astra won 3-1 and if they qualify they will face the Ukrainian side FK Oleksandria in the third preliminary round. Also in this round, CS Universitatea Craiova will play against AC Milan, while Dinamo Bucharest face the Spanish side Athletic Bilbao. In the Champions League, the new Romanian champions FC Viitorul are to face the winner between APOEL Nicosia from Cyprus and F19 Dudelange from Luxemburg. Vice-champions FCSB (formerly known as Steaua Bucharest) will meet the Czech side Viktoria Plzen.

Publicat: 2017-07-19 13:38:00
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