Romania seeks oil-and-gas industry co-operation

Romania wanted to co-operate with Vietnam in the oil and gas industry, its ministry of Economy, Trade and Business Environment Co-ordinator for Asia, Valentin Brebenel, told a business conference in Hanoi this morning.

The focus would be drilling, the building of oil refineries and exploiting overseas oil and gas fields, he said.

Petrochemicals, construction, medical science and agricultural processing were also candidates for bilateral co-ordination between two countries\' enterprises.

The co-ordinator told the conference that Vietnam could become an important gateway to the region for Romania.

Vietnam\'s Deputy Industry and Trade Minister Le Danh Vinh said enterprises offered conditions suitable to boost trade and Investment co-operation between the two countries.

Vietnam was expanding its relations with the European Union of which Romania was a member and the two countries had signed an economic co-operation agreement in 2009.

The agreement provided a legal framework for bilateral co-operation.

Deputy minister Vinh encouraged enterprises to take the initiative to promote mutual understanding and seek new business opportunities.

Trade between Vietnam and Romania grew to more than US$100 million last year.

It totalled $70 million in the first nine months of this year.