U.S. GRANTS ROMANIA MARKET ECONOMY STATUS

Two weeks after visiting Romania at the request of President Bush, Commerce Secretary Don Evans today announced Romania is now a market based-economy.

“I witnessed first-hand the significant economic reforms Romania has accomplished when I visited there two weeks ago. Romania is a valued friend and trading partner, and I congratulate all Romanians for making positive changes and achieving market economy status,” stated Evans.

“Commerce is key to promoting political and economic stability. This determination brings us one step closer to strengthening commercial ties between our two countries, that will lead to peace and prosperity, creating a better world for our children and grandchildren,” concluded Evans.

Evans traveled to Romania, Bulgaria and Slovakia, February 27-March 1, at the request of President Bush to demonstrate America’s support and appreciation of these countries as part of the Administration’s ongoing effort to pursue peace and diplomacy abroad.

This decision is the culmination of a public investigation conducted under U.S. law, which was initiated on May 10, 2002.

As a result of the Department’s finding, the U.S.-countervailing duty law will now apply to Romania. Furthermore, the Department will now use the standard market economy methodology in antidumping cases once a sufficient period of time has passed so that adequate market economy data is available.

The Commerce Department must consider six criteria in determining the market or non-market status of the Romanian economy. Those criteria include the extent of currency convertibility, free bargaining for wage rates, foreign investment, government ownership or control of production, government control over the allocation of resources, and other appropriate factors.

The Decision Memorandum may be found on the Import Administration’s website: www.ia.ita.doc.gov.