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Donna Thiessen
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December 16, 2003

ROMANIA RECEIVES US TRADE AND DEVELOPMENT COUNTRY OF THE YEAR AWARD

BUCHAREST, ROMANIA - On December 16, U.S. Trade and Development Agency (USTDA) Director Thelma J. Askey presented the agency's 2003 Country of the Year honor to the Honorable Ion Iliescu, President of Romania, who accepted it on behalf of the Government of Romania. The award was bestowed upon Romania as a result of the country's strong and continuous partnership with USTDA.

The presentation took place at Cotreceni Palace in Bucharest and was attended by the U.S. Ambassador to Romania, the Honorable Michael Guest. In presenting the award, Director Askey said, "This award reflects the level of success we have achieved with our Romanian partners across a broad range of sectors. Our mutual efforts have produced a significant positive impact on both Romanian economic development and American commercial interests in Romania. USTDA looks forward to building on this impressive track record to assist Romanian project sponsors in fulfilling their future development goals."

Director Askey named Romania as USTDA's 2003 Country of the Year during the State Visit of Romania's President Ion Iliescu to the United States in October 2003. Director Askey is currently in Romania on an official visit. During her visit, Director Askey is scheduled to meet with senior officials of the Government of Romania as well as private sector representatives.

USTDA has been active in Romania since 1992. Since then, USTDA has funded 67 early project-planning activities in that country totaling $16.7 million. During 2002 and 2003, Romania was the leading USTDA grant recipient in Europe. In 2003, USTDA funded 19 activities related to Romania totaling $3.1 million. USTDA maintains a diverse portfolio in Romania in the information technology, telecommunications, electricity, petrochemicals, oil and gas, and transportation sectors. A 2003 highlight of this USTDA country program was an orientation visit for a delegation of Romanian energy officials, including Romanian Minister of Economy and Commerce Dan Popescu.

The U.S. Trade and Development Agency advances economic development and U.S. commercial interests in developing and middle-income countries. The agency funds various forms of technical assistance, feasibility studies, training, orientation visits and business workshops that support the development of a modern infrastructure and a fair and open trading environment. USTDA's strategic use of foreign assistance funds to support sound investment policy and decision-making in host countries creates an enabling environment for trade, investment and sustainable economic development. In carrying out its mission, USTDA gives emphasis to economic sectors that may benefit from U.S. exports of goods and services.