Romanian ForMin Teodor Baconschi met Ukrainian Minister of Foreign Affairs Konstantin Grishenko on Thursday in Kiev

Ukraine is closely following the evolution of the anti-ballistic system in Europe and does not want the project to raise controversies among the states in the region, said Ukrainian Minister of Foreign Affairs Konstantin Grishenko on Thursday in Kiev, during a press conference held together with his Romanian counterpart Teodor Baconschi. 'We do not want this project to trace a divergent line between two neighbouring countries and among the countries in the region,' said the Ukrainian minister. 

The Romanian Chief Diplomat restated that the Romanian-American agreement on the anti-ballistic shield signed in Washington in September represents Romania's contribution to the future defence mechanism developed within the NATO and that the project is strictly defensive. 

'We signed this Romanian-American agreement as a contribution to the future anti-missile system developed within the NATO. It is about a strictly defensive system we discussed with our NATO partners and our partners in the region. We are positive that the NATO-Russia, the EU-Russia dialogue and the US-Russia dialogue will lead to the clarification of the political climate and to the trust that this system is strictly for the protection of the allied territory,' Baconschi said. 

'At bilateral level, we are totally open for our military experts to discuss in total transparency to see how Ukraine is interested in this project,' added the Romanian Chief Diplomat. 

The Moscow authorities systematically demanded 'written guarantees' that the shield will not be used against Russia. In their turn, the Ukrainian authorities, a state between Russia and Romania, always said they are only interested in a system including Russia as well, Agerpres correspondent informs.
Baconschi also said that the Romanian and Ukrainian sides decided to strengthen their cooperation in the European Union's Strategy for the Danube Region and to carry out trilateral trans-border cooperation projects with European funding, among Romania, Ukraine and the Republic of Moldova.

This is the first visit of Minister Baconschi in Kiev, after the one paid by former Romanian chief diplomat Cristian Diaconescu in January 2009. The tone of the statements the two ministers made was a warm one, both of them voicing their being in favour of the political dialogue and economic cooperation strengthening between Romania and Ukraine.

At the same time, the Romanian Foreign Affairs Minister gave guarantees that the Romanian side would make all efforts for modernizing and completing as soon as possible the bilateral judicial framework. 
Romania and Ukraine in Kiev, on Thursday, signed the Cooperation Agreement between Romania's Ministry of Justice and Ukraine's Ministry of Justice and the Collaboration Protocol between MAE and the Foreign Affairs Ministry of Ukraine in the field of European integration.'I am convinced that the protocol signed today concerning the European integration of our country is an important document in the bilateral relations,' Konstantin Griscenko said. 
Inquired about the bones of contention between the two countries, such as building the Bystroye Channel, of which Romania does not approve, the Romanian Chief Diplomat said the two parties would be able to find solution just through political dialogue. 

'The will to cooperate and to reach reasonable solutions is essential, either related to Bystroye, or to minorities, Krivoy Rog or any other topic,' Teodor Baconschi pointed out. 

'It is fundamental that both parties should display a political desire to enter a stage of getting the relation back to normal and of developing it to the common benefit of the two societies and states,' concluded the Romanian Chief Diplomat. 
During his visit to Kiev, Romanian Minister of Foreign Affairs Teodor Baconschi extended an invitation to his Ukrainian counterpart Konstantin Grishenko to visit Bucharest in 2012 to initiate annual discussions between the two countries at the level of chief diplomats.

As regards the possibility of a meeting between the two presidents, the Romanian Chief Diplomat has not set a date. 'Our efforts will lay the foundations of a high level political dialogue the moment there is enough substance for this dialogue to take place,' Teodor Baconschi said. 




Source: Actmedia Online

Romania Updates -- Nov 11, 2011

ROMANIA INFLATION QUICKENS TO 3.6 PCT Y/Y IN OCT

Romania's annual inflation quickened to 3.6 percent in October from September's 3.5 percent, above market expectations but still within the central bank's target band, official data showed on Thursday.

2013 BUDGET DEFICIT

Romania plans to reduce its fiscal deficit until it achieves a balanced budget in 2013, President Traian Basescu said at a meeting with German Chancellor Angela Merkel in Germany. Ziarul Financiar, Page 1

OLTCHIM

Russian energy company TISE is interested in buying state-owned chemicals firm Oltchim, which the government aims to sell under its IMF-backed privatisation plan by April 2012, the economy ministry said on Thursday.

Romania Updates -- Nov 10, 2011

Romania’s inflation rate unexpectedly rose in October for the first time in five months because of higher heating bills after the government cut subsidies to meet pledges to international lenders, Bloomberg reports.

The annual rate advanced to 3.55 percent from 3.45 percent in September, the National Statistics Institute in Bucharest said today in an e-mailed statement. The median estimate of nine economists surveyed by Bloomberg was for a 3.2 percent rate. Prices grew 0.6 percent on the month.

Romania’s inflation, which has slowed more than forecasts since July, prompted the central bank to lower its main interest rate on Nov. 2 to aid an economic recovery. The rate, which will probably end 2011 at 3.3 percent, leave policy makers with more room to reduce borrowing costs, Governor Mugur Isarescu said on Nov. 7.

Non-food costs advanced to 5 percent from a year earlier in October from 4.8 percent in September, mainly driven by surging heating and fuel prices, according to the institute. Food prices grew 1.7 percent in October, matching the September growth pace, while services prices growth accelerated to 3.6 percent from 3.5 percent the previous month, the institute said.

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TRANSELECTRICA RESULTS

Romania's state-owned power grid operator Transelectrica posted a nine-month net profit of 153.5 million lei ($47.8 million), it said on Thursday.

ROMANIA TO START DOLLAR ISSUE ROADSHOW NOV. 11

Romania's finance ministry will start a roadshow for a potential international debt issue, the second this year, on Nov. 11, deputy Finance Minister Bogdan Dragoi said on Wednesday.

ROMANIA JAN-SEPT TRADE GAP SHRINKS TO 6.9 BLN EUROS

Romania's trade deficit shrank by 1.2 percent on the year to 6.89 billion euros in January-September, with exports growing faster than imports, the National Statistics Board said on Wednesday.

ROMANIA POWER GRID NEEDS BIG INVESTMENT-OFFICIAL

Romania's power transmission system operator Transelectrica needs around 500 million euros to upgrade the power grid so it can handle an expected surge of wind generation, a company director said.

NUCLEARELECTRICA

Romanian investment fund Fondul Proprietatea said on Thursday the government's plan to hike the share capital of nuclear power plant Nuclearelectrica by 1.4 billion lei may reduce the fund's participation in the company by up to 1.8 percent. The fund said it will take all possible measures, including legal action, to protect its assets.

BCR

Romanian regional investment fund SIF Banat-Crisana, one of the five minority holdings in Banca Comerciala Romana (BCR), has signed papers to sell its stake in the bank to majority holder Erste Group Bank , it said on Thursday.

The fund will get 123.6 million lei and 1 percent of shares in Erste for its stake in BCR.

Romanian president's official visit to Germany

Romanian president, Traian Basescu, will meet German chancellor Angela Merkel in Berlin today, where he will also attend the conference ‘Germany and Romania – partners in Europe’, organized at the Deutsche Bank headquarters in Berlin. 

Basescu was invited to the German capital by his counterpart Cristian Wulff.

Deutsche Bank representatives have previously said the bank was planning to acquire a Romanain bank, media reports said.

Back in October, Traian Basescu also met Angela Merkel in Bucharest , when the German chancellor asked for a more transparent business framework and for clarity in the Romanian justice, as for German investors that would would seek entering the local market. The two heads of state have also discussed about the Danube strategy.

The Romanian President’s delegation to Berlin includes the European Affairs Minister Leonard Orban and the state secretary in the Foreign Affairs Ministry Bogdan Aurescu.