Zur Außenwirtschaftsreform in Rumänien

Abstract

The main subject of this study is the reform of the Rumanian foreign trade system brought about by the new Foreign Trade Law, which came into effect in March 1971. The reorganization of the foreign trade sector is characterized by the delegation of specific tasks to producers, industrial centres and specialized ministries. The Ministry of Foreign Trade, which must authorize all foreign trade business, will still be taking the fundamental decisions. Alongside the foreign trade firms, which are directly under the authority of the Foreign Trade Ministry, individual economic units are to be allowed to enter foreign markets independently in the future. These activities will, however, be guided and controlled by the Foreign Trade Ministry. Instead of being reimbursed at domestic market prices, as was the case under the previous system, firms will from now on be credited with the export proceeds converted into Lei, which will strengthen their interest in high export incomes. Rumanian firms are allowed to enter into Cooperation with foreign companies in joint ventures. The foreign partner is not, however, allowed to own more than 49 per cent of the basic capital. The transfer of profit quotas and interest on investment is guaranteed by the Rumanian state. With this new arrangement Rumania has created a model for Cooperation, especially with western countries, which is (as yet) without parallel in the other socialist countries.