A meeting was held on 21 October 2003 between Mr. Vladimir Dmitriev, Vneshtorgbank`s Executive Vice President and Deputy Chairman, and a delegation from Banca Commerciala Romana headed by Mr. Eugen Chirstea, Deputy Chairman of the Board of Management.
In the course of the meeting, matters of bilateral co-operation, including those related to support to export and import trade between Russian and Romanian companies were discussed.
In particular, the parties agreed to assist in establishing business relations between exporters and importers of both countries interested in promoting their goods on Russian and Romanian markets. With this purpose in view, a draft agreement intended to grant Vneshtorgbank a credit line from Banca Commerciala Romana to finance Romanian export to the Russian Federation is being prepared.
Banca Commerciala Romana is a major commercial bank in Romania where a 70% stake is owned by the Government. In February 2002, a master co-operation agreement was entered into between the two banks.