October 30, 2003

USTDA DESIGNATES ROMANIA AS THE 2003 COUNTRY OF THE YEAR

ARLINGTON, VIRGINIA - (October 29, 2003) U.S. Trade and Development Agency (USTDA) Director Thelma Askey announced yesterday Romania's selection as the agency's 2003 Country of the Year. The announcement was made during a luncheon honoring Romania's President Ion Iliescu at the Blair-Lee House in Washington, DC. The announcement comes during President Iliescu's three-day visit to the United States to discuss Romania's strategic and economic partnership with the United States.

USTDA bestowed this honor based on the agency's strong and diverse Romania country program, which has produced a significant positive impact on both Romanian economic development and American exports to Romania. "Romania's economic performance in recent years has been remarkable," said Askey. "USTDA is proud to have played a role in enriching the economic relationship between our two countries."

"Our two countries are fortunate to enjoy the benefit of two excellent representatives: Ambassador Michael Guest on behalf of the United States in Bucharest and Romanian Ambassador Sorin Ducaru here in Washington," said Askey. "Both countries' ambassadors have a special commitment to the commercial dimension of their responsibilities and have provided invaluable support to USTDA in furthering the agency's trade and development mission in Romania."

For the second consecutive year, Romania was the leading USTDA grant recipient in Europe, with 19 activities 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 fiscal year (FY) 2003 highlight of this country program was a USTDA-sponsored orientation visit for a delegation of Romanian energy officials, including Romanian Minister of Economy and Commerce Dan Popescu.

As projects the agency helped develop in past years are implemented, they are generating U.S. exports and producing a strong impact on Romanian development. In fact, the total number of USTDA investments in Romania that has produced export successes doubled during this year alone. In 2002, for example, USTDA funded a pilot project on the technologies most applicable to the needs of the Government of Romania for reducing the risks and damages of flooding. The successful pilot project was carried out by Burgess & Niple Limited of Cleveland, Ohio, and helped the Government of Romania begin implementing a new water management plan. As a first step, a $46 million commercial contract was awarded to Lockheed Martin Corporation of Bethesda, Maryland to integrate the forecast prediction technology.

USTDA has been active in Romania since 1992. Since then, USTDA has funded 135 early project-planning activities in that country totaling $17.9 million.

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.