Bilateral trade and business ties between Turkey and Romania have a massive potential for growth, even though 2012 is expected to be a difficult year for business, according to the participants to Business Arena's recent Turkey - Romania Roundtable Business Conference and Awards 2011, organized together with Net Worth Advisory and in partnership with Garanti Bank, Arctic, Corporate Baskets and Capital Plaza. Making a brief outline of the Turkish economy, Bahadir Necat, Commercial Counselor with the Turkish Embassy, pointed out that Turkey had set itself an ambitious goal to boost exports to 500 billion USD by 2023. "Within the framework of our export strategy for the next decade, Romania is an important trade partner for Turkey. Romania ranks 11th among Turkeya's export destinations and it is the 12th largest source for Turkey's imports. Our trade with Romania accounts for nearly half of our trade with the Balkan area," said Necat. He added that some 12,000 Turkish companies had been registered in Romania so far.

Banking and financial industry leaders and experts, insurers, investment funds and lenders have seen their 2011 efforts and successes recognized at the 11th edition of Business Arena's Financial Leaders' Hall of Fame gala. Organized in partnership with Stulz-Planaqua, Jacobi & Partner, Corporate Baskets, Avis, World Class, Corcova Roy & Damboviceanu, and Crowne Plaza, the event celebrated the achievements, innovation and excellence at the end of an economically challenging year.

At a time of great economic turmoil in Europe, German investors continue to find good business opportunities in Romania in spite of its poor transport infrastructure, bureaucracy and high corruption level. With investments of around 4.5 billion Euro and over 18,000 companies registered here, Germany is Romania's largest trading partner. In the first six months of 2011, Romania's exports to Germany amounted to nearly 4.1 billion Euro, while its imports from Germany stood at some 4.4 billion Euro.

In the presence of over 180 guests, Business Arena Magazine recognized the talent, determination and overall success of women in business and in the workplace at this year's edition of the Most Admired Business Women Awards Gala. The event was organized in partnership with World Class Romania, Tiriac Imobiliare, L'Oreal and Trainart was hosted by the Crowne Plaza Hotel in Bucharest. More details about the event will follow shortly.

Austrian companies and banks continue to remain strongly committed to their development plans in Romania, representatives of major Austrian companies and banks agreed at Business Arena's Austria - Romania Roundtable Business Conference and Awards 2011 last night. While the total volume of Austrian investment in Romania amounts to over nine billion Euro, business leaders, bankers and officials with the Austrian Embassy got together to discuss and share their views on the latest economic trends and challenges. At the end of this lively meeting, some of the companies and banks present at the event received awards for their efforts and achievements in this difficult economic context.

Emphasizing the major part that the Greek business community is playing in the Romanian economy, representatives of major Greek companies, banks and business associations agreed to the need of assuming a more prominent contribution to shaping up the local business environment. With nearly 5,000 companies registered here and employing some 22,000 people, Greek investors have so far pumped some four billion Euro into the Romanian economy, according to the Greek Ambassador, Georgios Poukamissas.

As year 2010 is slowly coming to an end, Business Arena Magazine proudly recognized success and innovation in a challenging sector such as banking and finance. The award ceremony gala earlier this week acknowledged the efforts made by banks, investment funds, insurance companies, financial institutions and business leaders, who had found the winning strategies in spite of the economic slowdown. Nearly 100 guests from the financial and banking sectors, including heads of investment funds and representatives of major companies in Romania all took part in this prominent event hosted by the JW Marriott Bucharest Grand Hotel.

The event reunited the ladies that make a difference in various domains and who have brought their contribution to the Romanian economy throughout the years. Business Arena Magazine proudly recognized the creativity and leadership of women in the workplace and their vital contribution to the success of business and banking activities throughout Romania. Hosted by the Crowne Plaza Hotel earlier this week, the Gala brought together around 180 guests in a festive atmosphere.

With investments in excess of nine billion Euro and over 5,600 companies registered in Romania, Austrian investors reiterated their confidence in the opportunities offered by this market at Business Arenas Austria - Romania Roundtable Business Conference and Awards 2010. Organized at the J.W. Marriott Bucharest Grand Hotel, in partnership with BCR, Raiffeisen Bank, Asirom, Cargo Partner and Julius Meinl, the conference brought together a wide range of experts and business leaders who discussed the current business trends and prospects for development. The photo from left to right: Wolfgang Schoiswohl, Executive Vice President, BCR; Rudolf Lukavsky, Commercial Counselor, Embassy of Austria; Daniel Pavel, Deputy Director, Chamber of Commerce and Industry of Romania; Reinhard Zeitlberger, Head of Corporate Customers and International Desk, Raiffeisen Bank Romania; Boris Schneider, General Manager, Asigurarea Romaneasc ASIROM Vienna Insurance Group; Michael Neuhauser - Vice-president and General Manager, Infineon Technologies Romania

Citing corruption, bureaucracy and the frequent changes in fiscal legislation as some of the main hurdles affecting the business environment in Romania, the representatives of the Greek business community are still optimistic. Gathered together at the Grand Hotel Continental, the diplomats and business people participating in Business Arenas Greece/Romania Roundtable Business Conference and Awards 2010 sounded a positive note with regard to the future of Greek/Romanian business ties.

While its priorities include the management of 70 million Euro infrastructure projects, Arad authorities have also been working on supporting local companies, according to Arad Mayor Gheorghe Falca, who attended BAM's Arad Business Roundtable 2009. In the presence of local business representatives, Gheorghe Falca spoke about Arad's economic evolution and its development prospects at the event organized by BAM in partnership with Blue Air and Cosmote Romania at the Continental Hotel. "As opposed to the rest of the country where there is a 1.5 deficit, we have a four per cent increase in revenues and a raise in exports." On this note, Falca added that with one notable exception, exports had been on the rise. "In fact, Arad is the only city in Romania that exports more than it imports."