Closer supply chains, new alliance with Bucharest

3 min read


The exchanges

Italy’s trade with Romania has reached a value of 19 billion euros, Bucharest’s second commercial partner; 2022 growth records +21.9% compared to 2021.

Despite the slight decline in the first six months of 2023 (-1.8%), Veneto’s trade with Romania has grown by double digits in recent years: +19.4% in 2022 (+24.5% compared to 2019 ), for a value of approximately 4.2 billion, driven above all by exports (2.2 billion, +13.6%). Eastern Veneto in particular, i.e. the territories of Padua, Treviso, Venice and Rovigo, account for 63.7% of the regional trade with Bucharest (and 14% of the national one), for a total value of 2.7 billion , with exports of around 1.3 billion. Among the provinces, the performances of Venice and Padua are driving: +83.9% (due to the leap in imports of base metals) and +24.7% respectively, the 2022 trade with Romania.

Evolution

«Companies from the Italian North East were the first to look at Eastern Europe, as early as 2001, especially at Romania with great interest and in a constructive way – explains the president of Confindustria Romania Giulio Bertola -. Over 20 years later and faced with unexpected global phenomena, such as the pandemic, and critical situations such as the conflict in Ukraine, every decision, industrial process, supply chains have undergone drastic and forced changes to be able to face the uncertainty of the future. This transformation is therefore already underway. Companies that intend to interact economically with Romania, regardless of the form, distribution or production, must be adequately capitalized and have a clear plan, even in the face of a truly competitive local market. Alongside “mature” internationalisation, there is an increase in the search for competent and reliable suppliers by Italian companies. The objective is to make up for reshoring from Asian markets, Russia and Ukraine, trying to shorten supply chains to ensure continuity of supplies. Some of the main industries involved in this process come from the automotive industry, the textile industry and the food industry. The most complex challenge, even at a European level, will be to profitably accommodate the reshoring of the consumer electronics sector too, where the presence of production of these components in Asian markets is still too high today.”

The internationalization of production and distribution in Romania over the years has also consolidated and strengthened the human relationship: «Today, in fact, we can also witness significant investments by Romanian entrepreneurs in Italy well beyond, in terms of size, the well-known and virtuous economic phenomenon generated by the Diaspora Romanian in our country. A recent example? The purchase of the Grand Hotel Gardone on Lake Garda carried out by the Paval brothers, owners of the Romanian Dedeman warehouses, for the sum of 45 million euros”.

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