Romanian-Russian business center to open in Bucharest

Romanian President Ion Iliescu and Director of the Union of Industrialists and Businesspeople (RUIB) Arkady Volsky will open a Romanian-Russian business center in Bucharest on June 9. The RUIB told Rosbalt that the creation of the center was called on to stimulate trade and economic cooperation between Romania and Russia, and develop contacts among businesspeople in both countries.

The RUIB said that the opening of the center corresponds to the run up of the Romanian president's visit to Russia in the beginning of July 2003. During the visit both sides will sign a basic agreement of cooperation. Volsky said that the Romanian market could be attractive for Russian companies specializing in the areas of energy, automobiles, oil refineries, and high technology. At the present time only large business interests represent Russia in Romania: Lukoil, Russian Aluminum, Gazprom and United Automakers Factories.