Romania: Accession to the OECD will Boost the Rate of Attracting Foreign Investments

Romania's OECD Accession Boosts the Rate of Attracting Foreign Investments

The Romanian government is making every effort so that Romania can join the OECD as quickly as possible in order to benefit from everything that membership in such an organization brings, but a lot of work and many reforms are needed.

Prime Minister Nicolae Ciuca says that the institutions of Romania are ready to assume their responsibilities so that Romania's accession process to the OECD is brought to a successful conclusion, all in parallel with the completion of the forms for the PNRR.

All institutions with attributions in the field will assume their responsibilities in the process of Romania's accession to the OECD, both by developing the appropriate regulatory framework and, above all, by applying the reforms.

It is important to correlate these efforts with those for the implementation of the PNRR reforms.

Using working procedures that are already recognized standards at the level of partners in developed countries, we will be able to offer our citizens a better functioning of public institutions, and the business environment a more predictable framework.

Joining the OECD will boost the pace of attracting foreign investment, increasing our level of credibility and attractiveness. In this regard, the government will carry out a series of consultations with the business environment and civil society to include their proposals and initiatives in the national OECD accession process.

Prime Minister Nicolae-Ionel Ciucă convened the Interministerial Committee for the coordination of accession to the Organization for Economic Cooperation and Development - OECD. On this occasion, the stage of Romania's preparation in the accession process was analyzed, officially started on June 28, after receiving the Roadmap adopted by the OECD Council of Ministers.

One of the main themes concerns the elaboration of the initial Memorandum for the assumption of the standards practiced by the organization whose members hold 70% of the global production and trade and 90% of the world level of foreign direct investments.