External Economic Position and Branding in Romania
Studies by Tímea Ölvedi and Gábor Miklós
The economic situation of Romania has significantly improved since its full membership of the European Union; however its competitiveness remains at a low level compared to the EU average. Based on the international competitiveness lists, the trading activity and position of Romania as a middle-ranking country strengthened, yet the lack of institutions and infrastructure is still a severe problem. Therefore, one of the main objectives of the current social-democratic government is to create an economically stable country image in order to contribute to the FDI inflows, increase the visibility of the Romanian companies abroad and to overcome stereotypes associated with the country. The national brand building is aimed at promoting domestic brands beyond the region’s borders, with stimulating export performance in addition to creating a stable presence of domestic companies in international markets. The aim of the study is to assess Romania’s foreign economic indicators, competitiveness, and – based on these macro-indicators – to look at how trade could grow using branding to support Romanian exports in goods.