Central Bank's Olteanu: RIBA founding, valuable contribution to Romania's, Ireland's economic development

The founding of the Romania-Ireland Business Association (RIBA) is a valuable contribution to Romania's and Ireland's economic development, in the general context of the European Union, National Bank of Romania (BNR) vice governor Bogdan Olteanu told the first conference organized by RIBA on Thursday.

"The first RIBA event, as well as the founding of this association, are a valuable contribution to the economic development of Romania and Ireland in the general context of the European Union. The exchange of experience and prospects is a determining factor for speeding up the process and avoiding, if possible, making the same mistakes, beyond each country's particularities that have to be taken into consideration by the decision makers," Bogdan Olteanu explained.

The event focused on a host of parallels between Romania and Ireland, presenting professional points of view on topics such as the impact of the banking sector on economic growth, the EU regulations and the steps Romania has taken to enforce the EU legislation, prospects on the future of the banking sector in Romania, Ireland and the EU, good practices for increasing level of foreign direct investments, reinforcing financial markets and setting up a transparent and efficient regulatory system.

Romania Ireland Business Association (RIBA) is an independent non-profit organization that cooperates with Ireland's Embassy to Romania with a view to promoting and developing the trade relations and investments between the two states. The statute of the association was signed by its founding members on June 17, 2014. The association has 18 founding members.AGERPRES