THE 45TH EDITION OF THE GENERAL SHAREHOLDER MEETING OF THE WTCA  Cristina Chiriac: "The opportunities for global growth do exist!"

Reporter: Please give us more details about the international event that World Trade Center Bucharest will be hosting in the coming days.

Cristina Chiriac: This year, for the first time in the history of the WTCA (World Trade Centers Association), the 45th General Shareholder Meeting will be hosted in Romania, will be held in Bucharest and will be attended by 235 people, from all over the world - Asia, North and South America, Europe etc. The General Meeting of the WTCA is an annual forum of the members from the management of the WTCs, the Board of Directors of the WTCA and of the most important businesspeople, which is intended to facilitate the sharing of ideas, the development of commercial strategies and to help increase visibility.

Reporter: How will Bucharest, and Romania, respectively, be promoted at this event?

Cristina Chiriac: Through the importance and the scope of this action, Bucharest and Romania will become the focus of the interest and attention for the representatives of a very important segment of the global business sector, polarized around the more than 330 World Trade Centers, from every continent of the world.

The event will take place between April 27th and April 30th 2014 and its slogan is "Shaping Global Growth".

Romania and the Romanian business sector, as well as the generated opportunities and the attracting of investments, will be the subject of the plenary session, as well as of the tiered talks.

Participating speakers will include personalities of the local and global business and financial/banking sectors, experts in international relations, the presidents of the other WTC members that will be attending. The attendees are either people with positions of responsibility in their countries, who have careers as dignitaries, or as independent business people, important players in the international economic environment.

The event will be inaugurated by Romanian Prime-Minister, Mr. Victor Viorel Ponta, and by the mayor of Bucharest, Mr. Sorin Oprescu.

Reporter: What advantages did WTC Bucharest have over its competitors in organizing the General Shareholder Meeting of the WTCA in Bucharest?

Cristina Chiriac: The main edge which Romania had was the attractiveness of the market. WTC Bucharest won first of all because it has the audit required by the WTCA for the certification and recertification of the quality of its services (Silver Certification earned in 2009, in Barcelona) and through the fact that it offers an exceptional logistic and an integrated package of services, "All under one roof", one of the desiderata of the World Trade Center.

The WTCB complex includes a 4-star hotel, a conference center, with modern equipment, an office building and a retail gallery. Last but not least one advantage was the good reputation that WTC Bucharest has in the international business environment.

Reporter: What does "shaping global growth actually mean"?

Cristina Chiriac: The opportunities for global growth do exist! They only have to be found and customized to the regional characteristics and requirements. Companies that play a role in global growth share innovative ideas born out of their international expertise, thus driving the local business communities to apply the best practices. The event in Bucharest will focus on these principles, with beneficial effects on the business sector.

Reporter: Do you think that globalization is a positive or negative process when it comes to the world's economic growth?

Cristina Chiriac: Globalization has multiple effects, as it can unite or divide humanity. Approached from an economic and financial point of view, globalization can be defined as the strengthening and the expansion of the ties between the global economies, on the global market for goods, services and especially capital.

Like any process, globalization has both positive and negative effects. If we were to talk about the positive effects, I would mention at least the internationalization of production due to companies that have global activities, the quick assimilation of the new technologies, increasing awareness about global issues, the stimulation of integration, cultural enrichment.

As for the negative effects, globalization can cause the increase of inequalities on a domestic and foreign level, the destruction of the old hierarchy of values, the expansion of criminality and terrorism etc.

But, like Kofi Annan noted, "globalization is a source for new challenges for humanity. Only a global organization is capable of handling the new global-level challenges. When we act together, we are less vulnerable to the disasters that affect every one of us".

Reporter: How will the conflict between Russia and the West affect global growth?

Cristina Chiriac: Everyone is looking towards Russia with anxiety. From my point of view, Romania should be even more concerned. We know that Russia is an important player on the market for energy resource and if we were to look at the imports of energy resources from a correct angle, we would very easily note how many countries in the EU and outside it, are dependent on these imports. I think that it is essential for the peace climate to endure, both from an economic and political point of view.

Reporter: There has been talk for a while now about a new world order. What is your opinion?

Cristina Chiriac: Obviously, there are speculations concerning a new world order, what is important is to look at things as a whole, with lucidity and responsibility.

Reporter: What are the off trade growth, given the current conditions of economic crisis/potential armed conflict?

Cristina Chiriac: In every troubled period of history, trade has survived in its various forms, and only those segments which have catered to niche requirements have seen growth. Entrepreneurs have had the opportunity to act with optimism and courage. Even though history should not be ignored, we need to look towards the future with optimism.

Reporter: On a global level, the banking system is faced with serious problems. Lending is being used less and less. How viable is financing through banks? What is the alternative to bank financing?

Cristina Chiriac: It is very difficult to give a concise answer to this question, especially since lately, lending has played an important part in the development of the economic segment.

Financial through banks has become increasingly difficult because of the restrictions imposed by bank regulations, which, in a way, has helped the economy by reducing the percentage of non-performing loans, and from another point of view, has put a damper on progress. I am sure that there are other forms of financing, but they can't be used globally, I am referring here to the financing through the stock market.

Reporter: What can you tell us about the relationship between trade and natural resources? What about the development between trade and technological progress?

Cristina Chiriac: There exists and there has always existed a tight interdependence between natural resources, trade and economic growth.

I think that the true players on the global market will be the ones that own resources, whether those resources are mineral, energy or natural.

Reporter: Thank you!