India News | Romania Hopes Bilateral Trade with India to Cross USD 1bn in 2022

Kolkata, May 30 (PTI) Romania is hopeful that its bilateral trade with India will cross USD 1 billion in 2022 despite geopolitical tensions across the globe, a senior diplomat of the European country said here on Monday.

The bilateral trade between the two countries was nearly USD 900 million in 2021.

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The eastern European country is expecting that the geopolitical tensions arising out of the Russia-Ukraine conflict will not have any adverse impact on the trade between India and Romania.

"The bilateral trade in 2021 was nearly USD 900 million, and in the current year (2022), the two-way trade is expected to cross USD 1 billion," Ambassador of Romania to India Daniela Mariana Sezonov Tane said on the sidelines of a programme organised by the Bharat Chamber of Commerce.

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In 2021, the trade balance was in favour of India by around USD 300 million.

Economic secretary of the Romanian Embassy Ionut Mircea Viziru said a free trade agreement between India and European Union could boost trade and investment between the two countries.

Union Commerce and Industry Minister Piyush Goyal had on May 6 said India will be able to conclude a free trade agreement with the European Union by next year.

The diplomat said Romania was keen on defence cooperation.

Speaking about cultural exchange, Tane said an MoU will soon be signed between Calcutta University and Babe?-Bolyai University in Romania.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)