Newly appointed Ambassador of Romania to the Republic of Trinidad and Tobago, Her Excellency Theodora-Magdalena Mircea, paid a courtesy call on Senator the Honourable Paula Gopee-Scoon, Minister of Trade and Industry on Wednesday.
The introductory meeting facilitated discussions on the status of trade between the two countries and the exploration of new opportunities for investment.
Romania, located in southeastern Europe is a member state of the European Union (EU). Trade relations with Trinidad and Tobago is governed by the CARIFORUM – EU Economic Partnership Agreement (EPA), which contains a regional preference clause for trade within the CARIFORUM region, fostering regional integration and regional value chains. Moreover, it provides an opportunity for export of services into Romania by ensuring that the market access opening in services, which Romania provides are also made available to the CARIFORUM.
Ambassador Mircea, who is based in Havana, Cuba, and is appointed to 12 countries in the region, revealed Romania’s renewed commitment to the Caribbean and sought to identify areas of cooperation and collaboration, indicating Romania’s capacity to produce salt, meats, grains and other raw materials.
Minister Gopee-Scoon welcomed the opportunity for exploring the strengthening of ties between the two countries and noted that despite the distance the country is primed for investment made attractive by Trinidad and Tobago’s new Special Economic Zones investment framework, access to regional markets, and other advantages.
The Minister also extended the country’s openness to missions from Romanian businesses in response to exploring potential areas of mutual interests.
In 2022, Trinidad and Tobago’s exports to Romania were largely from the non-energy sector at just over $12M. The main products were methyl alcohol (TT$11M), various tools and parts (TT$395,000), and types of projector equipment (TT$22,177).
That same year, Trinidad and Tobago imported TT$20.7M from Romania, with main products including electrical control boards (TT$3.2M), taps and parts for pipes TT$1.6M; and Medicament TT$1.2M.
Her Excellency Theodora-Magdalena Mircea presented her Credentials to Her Excellency Christine Carla Kangaloo O.R.T.T., President of the Republic of Trinidad and Tobago and Commander-in-Chief of the Armed Forces on Tuesday, April 30, 2024.
