Coinciding with Romania’s entry into the European Union (EU), its trade with India will be touching the $1 billion mark by the end of March 2007

This comes as good news especially for India since it has been trying to improve ties with countries which are becoming part of the expanded EU. Indo-Romanian trade rose 200% during the first seven months of the current calendar year. It was around $30.85 million last year and currently till July, the export figures indicate that it has touched almost $92.36 million. The imports from India rose from $44.33 million in the first seven months to $72.28 million. “Romania is an attractive destination for Indian investments due to its sizable market (the second largest in central and eastern Europe). The Indian business community should make full use of the country as a bridgehead to central European countries, particularly in view of Bucharest joining the European Union in 2007,” Vasile Sofineti, Romanian ambassador to India told FE. The most colourful aspect of this bilateral relation is that Bollywood production houses are choosing Romania for shooting films. Romania represents an attractive destination for Indian film industry, ready to shoot in incredibly beautiful places that the country can offer. It is also an attractive destination for Indian businessmen starting with textiles going through pharmaceuticals, up to IT products, the Romanian ambassador said. Adding that “with the new government in place now and the EU membership in 2007, the time is ripe to strengthen the Indo-Romanian trade relations.