Rompetrol CEO Sees Bucharest As Balkans’ Future Financial Capital

“We are the biggest country in the Balkans, based on population and geographic area. Bucharest could become the financial capital of Balkan world and I believe that not only Bucharest, but also all other big cities in Romania may become centers the Balkans would refer to,” Patricu said in a press conference.

 

He said a first step in increasing Romania’s competitiveness would be upgrading the road infrastructure, as good infrastructure attracts investments.

 

Patriciu also addressed the Serpent Island issue, and said Rompetrol in not interested in investing in the area, as the island has scarce reserves.

 

As to the conflict between Romania and Ukraine over the ownership of the island, Patriociu said Romania should wait for the court in Hague to rule on the matter.

 

“We are fighting the Ukrainians. I believe we (Romania – e.n.) are right, but we have to wait and settle this matter legally,” Patriciu said.

 

The Serpent Island is a subject of an ongoing Romania-initiated protracted litigation before the International Court of Justice.

 

Romania and Ukraine both dispute the Serpent Island, which is located in the Black Sea. On 16 September 2004, the Romanian side brought a case against Ukraine to the International Court of Justice in a dispute concerning the maritime boundary between the two States in the Black Sea.