Romania in European integration process (12 years in the EU)
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Date
2019
Authors
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Journal ISSN
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Publisher
Ivane Javakhishvili Tbilisi State University Press
Abstract
The paper analyzes economic indicators and some of the peculiarities of Romania's, one of the EU member states, economic development. Historical and contemporary aspects of Romania are presented in the paper. It is concluded that Romania's economic performance and economic situation have significantly improved over the past 12 years. Overall, the country has made significant progress. The further goals of the country are to
join the Shengen zone and the eurozone.
After the collapse of the socialist system, economic reforms and a large-scale fight against corruption began in Romania. Joining the European Union became the country's top foreign priority. Romania became a member of the Central European Free Trade Association (1997), NATO (2004) and the European Union (2007). Thus, Romania found its place alongside the European states and joined the EU single family.
It is worth mentioning that there is still a difference between the economic indicators of old European Union countries and of Bulgaria and Romania; however, the tendency is that the gap between their development levels is decreasing. Romania's GDP increased from $ 174.6 billion in 2007 to $ 239.5 billion in 2018 and GDP per capita increased from $ 836 to $ 12,302. Other economic performance indicators of Romania have also improved. Romania accounts for 1.28% of EU GDP.
It should be noted that trade and economic relations between Georgia and Romania are dynamically developing. Romania strongly supports Georgia's European and Euro-Atlantic integration processes. Romania is the first EU member state which ratified the Association Agreements between Georgia and the EU.
Description
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Keywords
Economic integration, Romania, European Union
Citation
The 4th International Scientific Conference: "Challenges of Globalization in Economics and Business", Tbilisi, 2019, pp. 402-406