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Location of Romania. Romania is a sovereign state located in Southeastern Europe. Following rapid economic growth in the early 2000s, Romania has an economy predominantly based on services, and is a producer and net exporter of machines and electric energy, featuring companies like Automobile Dacia and OMV Petrom.
1 These countries are currently not participating in the EU's single market (EEA), but the EU has common external Customs Union agreements with Turkey (EU-Turkey Customs Union in force since 1995), Andorra (since 1991) and San Marino (since 2002). Monaco participates in the EU customs union through its relationship with France; its ports are ...
The special territories of EU member states are categorised under three headings: nine Outermost Regions (OMR) that form part of the European Union, though they benefit from derogations from some EU laws due to their geographical remoteness from mainland Europe; thirteen Overseas Countries and Territories (OCT) that do not form part of the ...
Thus, the EEA countries that are not part of the EU enjoy free trade with the European Union. Also, the 'free movement of persons is one of the core rights guaranteed in the European Economic Area (EEA) [...]. It is perhaps the most important right for individuals, as it gives citizens of the 30 EEA countries the opportunity to live, work ...
Only the EU member states are fully part of the European single market, while several other countries and territories have been granted various degrees of participation. The single market has been extended, with exceptions, to Iceland , Liechtenstein , and Norway through the agreement on the European Economic Area (EEA) and to Switzerland ...
However, they also contribute to and influence the formation of new EEA relevant policies and legislation at an early stage as part of a formal decision-shaping process [citation needed]. One EFTA member, Switzerland, has not joined the EEA but has a series of bilateral agreements, including a free trade agreement, with the EU.
The European Free Trade Association (EFTA) was created to allow European countries to partake in a free trade area with less integration as within the European Communities (later European Union). Most of the countries initially in EFTA have since joined the EU itself, so only four remain outside, Norway, Iceland, Liechtenstein and Switzerland.
Romania is a net exporter of automotive and vehicle parts worldwide and has established a growing reputation as a technology center, with some of the fastest internet speeds globally. Romania is a member of several international organizations, including the European Union, NATO, and the BSEC.