Romania Urged to Respect Rule of Law and Improve Investment Climate

BRUSSELS, February 2, 2017 /PRNewswire/ --

The EU-Romania Business Society welcomes the firm stance taken by Brussels today opposing the Romanian government's emergency decree reducing penalties for corruption. The European Commission President Jean-Claude Juncker and the First Vice-President Frans Timmermans stated: "The fight against corruption needs to be advanced, not undone. We are following the latest developments in Romania with great concern."

The statement today from President Juncker and First Vice-President Timmermans went on to say: "The Commission warns against backtracking and will look thoroughly at the emergency ordinance on the Criminal Code and the Law on Pardons in this light. The irreversibility of the progress achieved in the fight against corruption is essential for the Commission to assess whether at some point monitoring under the Cooperation and Verification Mechanism (CVM) could be phased out."

We at the EU-Romania Business Society welcome the robust position taken by the European Commission. Romania's enormous potential can only be fulfilled under circumstances where the rule of law is clear and fully respected.

Speaking in Brussels after the Commission's statement, Mr James Wilson, founder and director of the EU-Romania Business Society said: "Just these past days we have seen negative business reports about Romania from Transparency International and the Commission's anti-corruption monitoring group about continued failings in Bucharest in 2016 to strengthen rules and laws protecting business capital and property rights. It sends entirely the wrong message for the Government to propose legislation that would exacerbate the situation."

"Our particular interest is to promote a positive investment climate for businesses, where much-needed foreign investors can have faith that the rule of law will be respected in Romania. 2016 saw a low point in relations between the Government and international businesses. We remain optimistic that the new Government can use their mandate to improve conditions for foreign capital."