ARLINGTON, VIRGINIA. - (May 6, 2003) The U.S. Trade and Development Agency (USTDA) will sponsor an Orientation Visit (OV) to the United States for the Romanian Minister of Industry and Resources, the Honorable Dan Ioan Popescu, and 12 delegates representing Romanian public and private sector energy organizations. The trip is scheduled for May 31 through June 7, 2003, and will include meetings and site visits in New York City, Washington, D.C., and Houston, Texas.

As Romania prepares to enter the European Union, there is an increased emphasis on upgrading and improving the country's infrastructure, including its utilities. Initial estimates for revamping existing electrical facilities, including production, generation and transmission, amount to $12-15 billion over the next ten years. The projects associated with these upgrades represent significant export opportunities for U.S. firms. In 2002, the estimated export value of U.S. energy equipment to Romania was $100 million. Projections show that figure will increase during 2003 and 2004.

The USTDA-sponsored OV is designed to demonstrate the benefits of U.S. technology that Romanian project sponsors can utilize to achieve their energy objectives. Several representatives from the top Romanian energy companies, including senior level executives from Petrom, Romania's National Oil Company, will accompany Minister Popescu on the visit. Major topics to be addressed include the upcoming privatization of Petrom and other rehabilitation projects in the energy sector to be undertaken in the next five years. A focus of the delegation's itinerary will be on visits to U.S. energy companies in the oil and gas industry, as well as power transmission and distribution facilities, where the Romanian officials can view U.S. technology in operation.

In addition to the scheduled meetings and site visits, the delegation will participate in two U.S. business briefings hosted by USTDA. These briefings will highlight a number of specific upcoming project opportunities that will be developed in the Romanian energy sector over the next several years.

The first U.S. business briefing is scheduled for Wednesday, June 4, 2003 in the Business Center at USTDA headquarters located at 1000 Wilson Boulevard, Suite 1500, Arlington, Virginia 22209. The second business briefing will be held Friday, June 6, 2003 at the Hyatt Regency Hotel, 1200 Louisiana Street, Houston, Texas 77002. U.S. companies interested in participating in the business briefings should contact Ms. Melanie Majors at Beta Corporation International at (505) 822-1968 or via e-mail at mmajors@betaci.com.

The U.S. Trade and Development Agency advances economic development and U.S. commercial interests in developing and middle-income countries. The agency funds various forms of technical assistance, feasibility studies, training, orientation visits and business workshops that support the development of a modern infrastructure and a fair and open trading environment. USTDA's strategic use of foreign assistance funds to support sound investment policy and decision-making in host countries creates an enabling environment for trade, investment and sustainable economic development. In carrying out its mission, USTDA gives emphasis to economic sectors that may benefit from U.S. exports of goods and services.

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