www.business-review.eu Business Review | November 2020
28 MACROECONOMY
United States getting more involved in Romania’s economy For the first time, the United States are signalling increased interest in the economic framework of the CEE region. Poland and Romania are prime targets, as the US already has significant military presence in the two countries. By Sorin Melenciuc with the United States of America, in terms of the energy component as well as our cooperation in the civil nuclear field. As promised, we have fulfilled a strategic mission: identifying partners among NATO members for the third and fourth units at Cernavoda,” Economy minister Virgil Popescu said.
STRATEGIC INFRASTRUCTURE Infrastructure is another key component of the agreement. During the same official visit by the Romanian government delegation in Washington, Foreign Affairs minister Bogdan Aurescu had a discussion with US Secretary of State Mike Pompeo regarding the importance of the two major regional interconnection projects: Rail-2-Sea and Via Carpatia, backed by the United States and promoted by Romania, including within the Three Seas Initiative. Rail-2-Sea, a railroad project, aims to connect the Black Sea port of Constanta and the Cernavoda nuclear power plant attracted American funds earlier this year
Baltic Sea port of Gdansk by improving the rail connection through upgrades of existing infrastructure or the construction of new
MAJOR NUCLEAR ENERGY PROJECT
project, which will also involve Romanian,
In October, the Romanian government signed
Canadian, and French companies.
its first major economic agreements with Washington: American money will finance the construction of units 3 and 4 at the Cer-
The draft agreement has already been sent to the European Commission for approval. This first project is paralleled by another
links. The other project – a motorway from Lithuania to Greece with a large section passing through Romania – is even more ambitious and requires a huge investment. It is not
navoda nuclear power plant and the refur-
agreement with the US Exim Bank, which
clear whether the US will be involved in these
bishment of unit 1.
could agree to a USD 7 billion financing pack-
projects financially as much of the infrastruc-
It is a large project for Eastern Europe, as
age for the Cernavoda investment, but also
ture is not on the map of the EU’s top mobility
it implies an USD 8 billion investment which
to other energy and infrastructure projects
corridors. However, these projects have a
will be financed through a US-led scheme.
including LNG, gas deposits, roads, and
direct strategic impact, including on military
railroads. The importance of the project,
mobility, on NATO’s eastern flank.
According to a draft intergovernmental cooperation agreement signed on October 9 in
which will use the same Canadian CANDU
Washington by Romanian Economy minister
6 technology as for the first two units, was
Foreign Affairs minister Bogdan Aurescu
Virgil Popescu and US Energy Secretary Dan
highlighted by the Romanian government.
urged the US to involved in the implementa-
Brouillette, AECOM – an American construction and engineering company – will lead the
“Today, Romania is taking a huge step forward in developing its strategic partnership
During his visit to Washington, Romanian
tion of these projects, including financially, stressing the need for a strong US economic
