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March
11, 2003
US EMBASSY STATEMENT ON THE DESIGNATION
OF ROMANIA AS A MARKET ECONOMY BY THE US DEPARTMENT OF COMMERCE
MARCH 10, 2003
The
U.S. Embassy welcomes the U.S. Department of Commerce announcement
of March 10, 2003 designating Romania as a market economy under
the U.S. antidumping and countervailing duty laws. This determination
brings to an end a legal process that began in May 2002 at the
request of the Government of Romania. While this designation applies
only to U.S. antidumping and countervailing duty proceedings,
the analyses and conclusion of the Department of Commerce confirm
that Romania has made significant progress in the reform of its
economy, that sustained economic growth has been achieved over
the past three years and that macro-economic stability has been
attained.
In its determination, the Department of Commerce considered a
variety of criteria in determining the market or non-market status
of the Romanian economy. These criteria included the extent of:
- Currency
convertibility
- Free
bargaining for wage rates
- Foreign
investment
- Government
ownership or control of production
- Government
control over the allocation of resources
The U.S. Government hopes that Romania will continue to take steps
aimed at further privatization and improvements in the business
climate.
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