Romanian Export Orders Seen Dn 10%-30% By Year-End - Mediafax

BUCHAREST --Romanian export orders will decline 10%-30% by year-end due to the global financial crisis, and export orders for next year will also be affected, the Romanian Export Council said Tuesday, news agency Mediafax reported.

The council, which was set up in 2004 and is subordinated to the ministry of commerce and tourism, said textiles, metallurgy, auto parts and car production are the most vulnerable sectors.

It added that the increase in interest rates for existing loans and for loans needed to fund investment projects is seriously affecting exporters.

Exporters, among others, have proposed earmarking 55 million lei ($18.7 million) from the 2009 state budget to promote exports, as previously requested by the ministry for small and medium-sized enterprises, commerce, tourism and liberal professions.

Web site: www.mediafax.ro