JBIC Signs MOU with Eximbank Romania Strengthening Bilateral Ties to Increase Business Opportunities forJapanese Firms
International Business Development
NR/2007-50
September 27, 2007
September 27, 2007
- Japan Bank for International Cooperation (JBIC; Governor: Kyosuke Shinozawa) signed today a memorandum of understanding (MOU) with the Banca de Export-Import a Romaniei EXIMBANK-S.A.(Eximbank Romania) to foster economic exchange between Japan and Romania.
- Specifically, the MOU set forth that both banks closely exchange views and information on business and investment opportunities for their respective countries' business firms, and promote mutual cooperation for providing loans and guarantees to undertake projects.
- The Romanian economy has recorded stable growth in recent years.*1 Having joined the EU on January 1, 2007, the country is making efforts to develop domestic industries with its sights set on adopting the Euro as the national currency in 2014. Currently, its major trade partners are EU countries, which account for about 60% respectively of total exports and imports, and trade and investment relations with Japan remain limited. Given Romania's relative proximity to the Middle East among the EU countries, its geopolitical importance is increasing for Japanese businesses.
- The signing of this MOU is expected to facilitate an exchange of mutually beneficial information between the two banks and help increase business opportunities for Japanese firms. JBIC will continue its vigorous efforts to support Japanese business activities in Romania, while increasing cooperation with Eximbank Romania.
