Agriculture has come into the limelight again, after months where the focus seemed to have been mainly on the pharma and oil and gas sectors. Agriculture is without doubt a sector where Romania has enormous potential, with rich soil, good climate as well as skilled work force.
The agriculture sector should be seen as an important link in the supply chain of economy. In spite of its great production potential, the export opportunities of Romanian agricultural products, with the resulting positive impact on the balance of trade, have never been fully realized. However, a recent step forward was the development of the National Strategic Framework, published by the Presidency on its website in June. This document calls attention to the need for changes in the agricultural sector and proposes measures to this end. Legislation will be needed to stimulate growth in the sector and its sub-sectors. This should include a clearer definition of the fiscal framework, as well as of transfer pricing rules.