March 25, 2002

USAID Supports Regional "TRADE Network"

The TRADE Network (Trading Regionally and Developing Expertise) project in Central and Eastern Europe has held its second quarterly TRADE Network meeting in Bucharest, over March 22-24. The TRADE initiative brings together private businesses from Romania, Bulgaria, Croatia and Hungary, and aims to promote economic development in the region. The goal is to build a network of local consulting companies, who in turn will serve the growth of the small and medium sized enterprise (SME) sector in the region.

TRADE is a joint initiative of the United States' two leading private volunteer organizations - the Citizens' Democracy Corps (CDC) and International Executive Services Corporation (IESC). The innovative "TRADE Network" program builds on previous USAID, donor and private efforts, aiming to complement and support existing initiatives in each of the four participant countries - Romania, Bulgaria, Croatia and Hungary.

Senior officials from the Washington headquarters of the United States Agency for International Development (USAID) and from USAID/Romania attended the 2nd TRADE Network quarterly meeting in Bucharest. The first meeting was held in Budapest in December 2001. The program started in October 2001, and it has a March 2003 pilot completion date.

"TRADE Network is a key USAID sponsored program that recognizes the increasing importance of regional business development potential and the expanding network of dynamic companies in Romania, Bulgaria, Croatia and Hungary," said Denny Robertson, USAID Romania Mission Director.

USAID is financing the $2.5 million pilot project, as part of its policy to foster regional stability by accelerating sustainable private sector growth, while CDC and IESC provide U.S. business experts for the program.

"We are building a network of strong local consulting companies in Central and Eastern Europe to develop profitable business ties in the region," Gina Volynsky, Director of the TRADE Network Program, speaking at at the opening of the meeting, on March 23, 2002, at the Hilton Hotel in Bucharest.

"We have identified four excellent Romanian companies as our initial business partners here," added Volynsky, who coordinates the TRADE Network Program, based in Budapest. The four private companies are : Compass, Business Development Group (BDG) (consulting firms), Quantum Leap (project development firm) and Daedalus, a market research company.

The Bucharest meeting gathered an important number of consulting companies from each of the four participating countries, chosen on a competitive basis as core members.

CONTACT PERSONS: Gina Volynsky, Director TRADE Network, telephone: 0036-1 391-4050, fax 0036-1 391-4051, e-mail : trade@euroweb.hu
In Romania: Ciprian Nanu, Director BDG, telephone 0040-1 210 6018, fax: 0040-1 210 4377, e-mail : office@bdgind.ro