ROMANIA

Bilateral relations Switzerland–Romania

The political, economic and cultural contacts are dynamic and intensive. As a member of the European Union (EU), Romania is one of the beneficiaries of Switzerland’s contribution to reduce economic and social disparities in the expanded EU.

Economic cooperation

Romania and Switzerland are linked by an Investment Promotion and Protection Agreement as well as a double taxation agreement. Since Romania joined the EU, the bilateral agreements between Switzerland and the EU also apply to Romania (subject to restrictions until June 2016in the sphere of free movement of persons).
Switzerland is a relatively important investor in Romania. With total capital amounting to 1.9 billion EUR as of 31 December 2013, it ranks 7th among foreign investors.
The trade balance is favourable to Switzerland. In 2015, exports from Switzerland to Romania amounted to 663 million CHF and imports rose to 560 million CHF. 793 million CHF and imports from Romania to Switzerland rose to almost 507 million CHF.

Business Language

Romanian, German, French, English.

Dimensions and weights

Metric system.

Currency

National currency 1 leu (l) = 100 bani

ISO code: RON

Customs tariff

Harmonised system. Customs clearance based on the transaction value.

Import control

EU goods are freely available. Properly signed and stamped invoices with all standard information and an indication of the country of origin are necessary for the customs clearance of non-EU goods. Information that describes a product must be provided in Romanian. All companies with a relevant licence are entitled to import goods. These licences are used for statistical purposes.

There are no longer any foreign currency controls; foreign credits must be notified to the national banks; creditworthiness of companies should be checked carefully.

Standard VAT rate: 24% (reduced rate: 9/5%). Reimbursement of VAT paid is possible.

Terms of payment and tenders

Payment in advance or an irrevocable letter of credit confirmed by a bank. We would strongly advise against documents against payment.

State export guarantees for short-term transactions are possible to an unlimited extent (max. credit term 360 days). EUR invoicing. Currency futures transactions are possible for USD and EUR for a duration of up to three months (www.sibex.ro).

Designations of origin

Usual markings. Many goods are subject to standard and labelling regulations.

Packaging

No detailed special regulations, but discussions with the importer are recommended. The EU Directive sets out that packaging materials made of wood must be manufactured from round logs. This EU regulation goes beyond the necessary treatment set out in the ISPM 15 standard.

Product samples

Duty free where there is no retail value. Must be labelled as free shipments and addressed to the recipient in question directly.