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EU MEMBERS > Romania
Romania business environment
Doing business in Romania
KEY FACTS

Romania, which joined the European Union on 1 January 2007, began the transition from Communism in 1989 with a largely obsolete industrial base and a pattern of output unsuited to the country’s needs. The country emerged in 2000 from a punishing three-year recession thanks to strong demand in EU export markets. Romania hopes to adopt the euro by 2014. (CIA World Factbook)

Currency: RON
Key exchange rates:
Interest rate: 10%
Current inflation: 7.8%
Inflation target:
Tax rate: 19%

Major Romanian owned companies:

Rompetrol Group
The Rompetrol Group is a multinational oil company that operates in 13 countries. The group is active primarily in refining, marketing and trading, with additional operations in exploration and production, and other oil industry services such as drilling, EPCM, and transportation.

FIRST STOP
Banking
National Bank of Romania
The National Bank of Romania is the country's central bank. It is the sole institution vested with the power to issue notes and coins to be used as legal tender on the territory of Romania.
Banca Comercială Română
Banca Comercială Română (Romanian Commercial Bank) is the largest bank in Romania. The bank has over 650 branches and agencies throughout the country, with outlets in most towns and cities, and owns the largest domestic ATM network with over 1,500 ATMs and 16,000 points-of-sale terminals
Legal
Hammond, Bogaru & Associates
Hammond, Bogaru & Associates provide a leading full service commercial law firm in Romania for foreign and Romanian clients. With a mixture of international lawyers and Romanian lawyers we are able to anticipate obstacles, seize opportunities and get the case resolved - or the transaction completed - the experience and know-how to prevent it from being undone.
Ana Anghel Law Office & Stabb & Associates
Anghel Stabb & Partners is a professional partnership of lawyers and business consultants, based in Bucharest, which has been active in advising clients on doing business in Central and Eastern Europe, and, in particular, Romania since 1998.
Accounting
Maria Accounting
Maria Accounting is an accounting expertise company, member of Authorized Experts Accountant Body of Romania, of Chamber of the Financial Auditors of Romania and of the National Association of Romanian Evaluators which provides specialized services of accounting, financial, human resources, consulting and audit, other services in collaboration with specialists in human resources-salaries.
TPA Horwath Romania
TPA Horwath is now one of the leading accounting and audit firms in Romania. They offer auditing services, financial and tax consulting, accounting, payroll, IFRS reporting, and legal advice.
EUROPEAN BUSINESS ENVIRONMENT OVERVIEW
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Romania
Romania flag
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MAP
Capital: Bucharest
Official languages: Romanian
Government: republic
EU accession: 2007
Area: 238,391 km2
Population: 22,246,862 (July 2008 est.)
Internet TLD: .ro
Calling code: +40
EUROCHAMBRES
Eurochambres, the European Association of Chambers of Commerce and Industry, is one of the key representatives of business to the European institutions. It voices the interests of over 19 million member enterprises in 45 European countries through a network of 2000 regional and local Chambers represented by 45 national - and one transnational - organisations. More than 90% of these enterprises are small or medium enterprises, with chamber members employing over 120 million employees.

Eurochambres is the sole European body to serve the interests of every sector and size of European business - due to the multi-sectoral membership of Chambers - and the only one so close to business, as a result of the Chambers’ regional focus.
http://www.eurochambres.eu
CHAMBER OF COMMERCE IN Romania
The Chamber of Commerce and Industry of Romania is the most powerful association representing the Romanian business environment that holds together bilateral chambers of commerce, business associations and the entire network of 42 territorial chambers of commerce and industry.
http://www.ccir.ro/ccirweb/menuHome/PageHome.aspx?submenu_id=26