Press Room

First day of the GCC – Romania Economic Forum

Press release

The economic forum GCC – Romania – Bucharest: Business Opportunities in Central and South-Eastern Europe was officially inaugurated on 8 March in Bucharest by the President of Romania, Traian Băsescu, in the presence of Foreign Minister Teodor Baconschi and of many officials and business people from Romania and the member states of the Gulf Cooperation Council. The event, the first of such scope in Central and South-Eastern Europe, is aimed at highlighting cooperation opportunities in the fields of the economy, investment, business and trade between the participating states.

The Forum is organized by the Ministry of Foreign Affairs, in cooperation with the Ministry of Economy, Trade and Business Environment, the General Secretariat of the Gulf Cooperation Council (GCC), in partnership with Forum Invest Bucharest and the Federation of Chambers of Commerce of the GCC, under the high patronage of the Presidency of Romania, the initiative belonging to the Secretary General of the Gulf Cooperation Council, Abdulrahman H. Al-Attiyah.

Over 120 officials and companies from the Gulf region and over 200 high officials and company executives working in Romania have announced their participation in the Forum. The Minister of Foreign Trade of the United Arab Emirates, the Deputy Minister of Foreign Trade of Saudi Arabia, the Minister of Commerce and Industry from Kuwait, alongside other high officials from the GCC member states, leaders of employers associations and chambers of commerce are meeting these days at the Economic Forum in Bucharest. Romania is represented by the economic ministries, the National Bank of Romania, the National Council of SMEs, as well as other agencies and professional associations. According to organizers’ first estimates, the projects tabled by Romanian state-run and private companies aggregate over 10 billion Euros.

The Economic Forum in Bucharest, held between 8 and 10 March, has 5 panels corresponding to the areas proposed for cooperation, i.e.: I. Energy, Oil and Gas; II. Infrastructure, Constructions, Real Estate; III. Tourism, Health Care; IV. Investment Promotion, Trade and IT&C; V. Agriculture.

Foreign Minister Teodor Baconschi will address the Economic Forum on 9 March, at the plenary session on Economic and investment climate and trade promotion in GCC countries, Romania and S-E Europe.

The GCC Economic Forum in Bucharest is the first stage in a set of far-reaching actions related to economic cooperation between representatives of the participating states. In the next period (end of this year or early next year) a new edition will be organized in one of the GCC states. Continuity in these actions is meant to help put conditions in place for permanently assessing the progress of projects agreed upon by the sides and identifying new cooperation opportunities.

For the updated agenda of the event and further information, go to and the MFA website: