Romania gets market economy status

The US Department of Commerce granted Romania the market economy status, a title that was due to come into force yesterday, following the publication of the decision in the US Official Gazette. The US Secretary of Commerce Don Evans announced this decision during his visit in Romania at the end of February, explaining the American administration had come to this conclusion after a thorough analysis of the economic reforms in Romania. The market economy country status would help boost the confidence of the American companies in conducting commercial operations with the companies in Romania, as well as attract foreign direct investments, the Foreign Trade Department said. “The economic benefits derived from the acknowledgement as a market economy concern, among others, defending the right of the Romanian commodities to reach the US market in competitive conditions, and make it possible to counteract antidumping and safeguarding measures with market economy arguments,” state secretary Eugen Dijmarescu said. ZF