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Media Release

Australian Minister for Trade, Mark Vaile

28 September, 2001

Australia's Cooperation with Romania

Statement by the Australian Minister for Trade, Mr Mark Vaile, on the occasion of the opening of the COMTIM Group, Timisoara, Romania, Friday 28 September, 2001.

The opening of the COMTIM Group by President Iliescu marks a very special occasion in Australia's cooperation with Romania.  Romania is Australia's most important commercial partner in South Eastern Europe and the Australian Government is committed to expanding commercial cooperation by promoting trade and investment.

To achieve these objectives, the Australian and Romanian Governments have established a Joint Ministerial Commission.   In November 1999, I represented Australia at the first meeting of the Commission in Bucharest.  This has given me a personal interest in strengthening our commercial relationship.  Although I am not able to be present in Timisoara today, it gives me great satisfaction to know that the opening of the COMTIM Group represents a major success for Australian investment in Romania to the benefit of both our countries.

Mr Cojocaru is an extremely successful businessman in Australia.  His investment in the COMTIM Group represents the largest single Australian investment in Romania.  It is also a strong vote of confidence in the Romanian Government's transformation of the economy and encouragement of foreign investment.  It is particularly appropriate that Mr Cojocaru came to Australia from Timisoara and that he has chosen to invest in his homeland.  This is an example of the most appropriate investment as it combines the expertise and resources of successful Romanian entrepreneurs in Australia with their knowledge and understanding of local conditions.  I hope that other members of the Romanian community in Australia will follow his example.

The COMTIM Group is one of the most important commercial enterprises in Timisoara County and Western Romania.  It has a long history as one of the largest pig production units in Europe. Its success under private management will create employment and help sustain other local businesses, especially in the agricultural sector.

I congratulate the Romanian Government on facilitating this investment and for its initiative in ensuring that the COMTIM Group will continue to develop into the future. I also wish Mr Cojocaru and his partners every success in their new undertaking.

Local Date: Friday, 05-Dec-2008 13:48:45 EST