Today, March 5, 2019, the minister delegate for European affairs, George Ciamba, attended “Brexit: opportunities and challenges”, a debate organised by the German Chamber of Commerce in Romania (AHK) in cooperation with British Romanian Chamber of Commerce.
Minister delegate George Ciamba pointed out in his speech that, on the long term, trade between Romania and the United Kingdom would be contingent on the terms of the EU-UK Withdrawal Agreement. Should there be a no-deal Brexit, Romania’s GDP would not have much to suffer, as everyone expects the short-and-medium-term negative effects to be felt in the United Kingdom rather than in the EU27.
At the same time, the minister delegate touched on the way Brexit might potentially impact the economic relations between the United Kingdom and Germany, hence Romania, indirectly. For several years, Germany has been Romania’s largest trading partner and ranks 3rd among the investors in the Romanian market. The volume of trade between the two countries accounts for about one fifth of Romania’s trade volume.
George Ciamba reiterated that it was important to identify a solution that should promote an orderly withdrawal of the United Kingdom from the European Union, which would remove the negative effects a no-deal withdrawal would cause to the EU economy.
The minister delegate for European affairs assured the business people attending the event that the Romanian Government was making the necessary preparations to deal with any scenario, so as to protect the Romanian business environment as well as the citizens’ rights.