The operations for trading in Romania are done in accordance with the regulations imposed by the European Union (EU) and investors who are considering developing such activities here should know that this field is of major importance for the Romanian economy and one of the most developed.
According to the data of National Bank of Romania, in 2018, trading accounted for 15.8% of all the foreign investments operations developed here, being the 3rd most important economic sector preferred by foreign investors, after manufacturing and construction industries. Investors who are interested in the rules of law regulating trading in Romania can request in-depth legal assistance from our team of Romanian lawyers.
The regulations which stipulate the manner in which trading in Romania can be done by local and foreign entities derive from national laws, as well as the rules of the EU; trading rules are also established in accordance with the agreements enforced by the World Trade Organization (WTO), these being the primary sources of law.
Our team of lawyers in Romania can present the main rules prescribed by the Romanian institutions, the EU and the WTO; it is also important to know that Romania is a member state of the European Free Trade Association (EFTA) and of the Central European Free Trade Agreement (CEFTA). Some of the agreements that are applicable for those interested in trading in Romania are the following:
Besides the extensive network of treaties which prescribes preferential or advantageous reasons for trading in Romania or in the EU area (related to the volume of goods, their categories, the tax advantages, customs duties, few procedures for trading and others), investors should also take into consideration the following list of advantages, presented by our team of Romanian lawyers:
Trading in Romania is highly influenced by the business relations established with the EU partners. Thus, it is important to know that 75% of the imports in Romania are from EU member states, the most developed trading relations being established with Germany, Italy and Hungary, while on export matters, 77% of all the Romanian exports are purchased by other EU member states; here, the top trading partners are Germany, Italy and France.
Our Romanian law firm can present the main legal procedures EU businesses have to comply with when importing goods here; however, our Romanian lawyers can also present the rules applicable to non-EU businesses. The procedures imposed in this case will vary based on the trading regulations that derive from the agreements (if applicable) signed by the Romanian authorities. Those interested in finding out more information on the applicable trading rules are invited to contact our law firm in Romania for an extensive presentation as well as for legal representation where needed.