Diaconescu pleads for the French to maintain its investments in the auto sector

Tradus de Cosmin Ghidoveanu
Ziarul BURSA #English Section / 18 februarie 2009

Romanian foreign affairs minister, Cristian Diaconescu, pleaded yesterday in Paris for the French to maintain their investments in Romania, where Romanian carmaker Dacia is part of the Renault group, says press agency Newsin, quoting AFP.

"We wish that France keeps its major investments in Romania, as they are extremely important, and we would want for both countries to avoid protectionism", said Diaconescu, at the end of the talks he had with his peer Bernard Kouchner. The minister pleaded for "economic and trade formulas that will help us overcome the crisis ", which would be "beneficial for the biggest investors of both countries ".

He also expressed his wish that "Romania and France succeed in coordinating their efforts" against the economic crisis.

"We don"t feel like we have to blame ourselves for being too focused inwards, rather the contrary, but we face different issues" in France and in Romania, Kouchner said.

Paris drew criticism from the European Commission and some of its European Partners, like the Czech Republic, by announcing six billion Euros in preferential interest loans to its two domestic carmakers - Renault and PSA Peugeot Citroen - subject to their commitment to keep their production facilities in France.

France is the third largest foreign investor in Romania, amounting to 11% of the total volume of foreign investments, according to the French Ministry of Foreign Affairs.

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