Doing Business in Romania

Romania is situated in the south-eastern part of Europe and shares borders with Hungary, Serbia, Bulgaria, the Black Sea, Ukraine and the Republic of Moldova. It has a population of about 21,700,000, making it the seventh largest population of the European Union. This population is 89% Romanian, over 7% Hungarian and over 2% Romani. The overwhelming majority of the population identifies as Orthodox Christian although Romania itself is a secular State and has no official religion.  

Most visitors consider Romania one of the most friendliest and hospitable countries in Europe. Romanians are fun loving, warm, hospitable, and playful people, with an innate sense of humour and especially self-irony.

Romanian Language

Romanian is a Latin based language, very closed to the language of the ancient Roman Empire, even closer than Italian. A 31-letter Latin alphabet is used and Romanian is the only Romance language where definite articles are enclitic: that is, attached to the end of the noun (as in Scandinavian, Bulgarian and Macedonian), instead of in front, proclitic.

Some useful phrases to remember when visiting Romania include:

-                      "Bună ziua" -                      (BOO-nuh zee-wah)	-                      Hello
-                      "Ce mai faci?" -                      (cheh my FAHTCH)	-                      How are you?
-                      "Mulţumesc, bine" -                      (mool-tzu-MESK BEE-nay)	-                      Fine, thank you.
-                      "Îmi pare bine" -                      (OOHM pah-reh BEE-neh)	-                      Nice to meet you.
-                      "Mulţumesc mult" -                      (mool-tzoo-MESK moolt)	-                      Thank you very much.
-                      “La revedere” -                      (lah reh-veh-DEH-reh)	-                      Good bye.

It is also important to remember to address people in Romania by their Romanian honorific title: ‘Domnul’ for men, and ‘Doamna’ for women, followed by their surname. While friends may address each other using the honorific title followed by the first name, only close friends and family will use the first name without appending the honorific title. 

Hungarian, Romani, Ukrainian, German and Russian are the most spoken other languages in the country.

Recent Economic and Business History 

During the 2000s (decade), Romania enjoyed one of the highest economic growth rates in Europe and has been referred to as "the Tiger of Eastern Europe." This has been accompanied by a significant improvement in human development. The country has been successful in reducing internal poverty and establishing a functional democracy

The country made a number of government reforms in order to satisfy the conditions of EU membership, which it obtained in January 2007. Now the requirements of membership – including EU directives – make up one of the driving forces in Romania’s program of reform, modernization and investment in infrastructure. More significantly, these directives are accompanied by funding from the EU in the form of Structural Adjustment Funds and other programs to enable the new members to align their economies with the rest of the EU.

Romania has not yet entered the "Eurozone," but has set 2014 as the target year to adopt the euro. The current currency is the leu. 

Why do Business in Romania?

A marketplace of 22 million, 37 million acres of arable land, a vibrant oil and gas industry, breathtaking landscapes, an expanding economy, a well-educated workforce with more than 50,000 specialists in information technology, access to the Black Sea and Asia; these features of Romania have attracted investors from many different sectors worldwide. Other advantages to doing business in Romania include: one of the largest markets in Central and Eastern Europe (ranking 7^th, with over 21 million inhabitants); EU unique market gateway (acess to approximately 500 million consumers); rich natural resources, including surface and underground waters and fertile agricultural land; high potential for tourism and NATO membership. 

Romanian Business Culture and Etiquette

Romanians are also very famous for their hospitality. Business meetings are, in the majority of cases, very warm and friendly. It is also very common to conduct business meetings over lunch. Work colleagues, after a hard day, especially in multinational companies, often socialise together in the evening at a local bar. It is quite uncommon for a Romanian to invite foreign business people to their homes or do business in a residential place.  

Business appointments are necessary and should be planned two to three weeks in advance within the traditional working hours of 9:00am to 17:00pm. Summer or other holiday periods (particularly Christmas and Easter) should be avoided.

Meeting schedules are not rigid in Romania. There may be an agenda, but it serves as a guideline for the discussion and can act as a springboard to other business. Remain flexible in your approach when doing business in Romania.

 

This post has, hopefully, taught you something about the intricacies of Romanian business culture. There is, however, a lot more to learn: a professional lifetime’s worth. At TJC Global, our interpreters are experts in Romanian practice as much as they are experts in the language. To find out how our services can assist you on your next business trip to Romania, visit TJC Oxford, or contact us.

Doing Business in Belarus

Belarus is a former Soviet Union republic which became an independent country in 1991. It is a landlocked country in Eastern Europe, bordering Russia, Ukraine, Poland, Lithuania, and Latvia. The population of Belarus is 10 million people, with 2 million living in the capital Minsk. In the past Belarus has experienced centuries of invasion and conquest. Between 1941 and 1944 the country was occupied by the Nazis, and it has lost 2.2 million people, including most of its large Jewish population. 

Nowadays, Belarus is an important transit route for Russian gas supplies to parts of Western Europe. Belarus is also a major exporter of machinery, chemical and petroleum products. Today Belarus is still largely unexploited by the world’s businessman, but its convenient geographical location between Europe and Russia and plenty of intellectual potential provide an excellent environment for successful business. In turbulent economic times, the Belarus economy has also been less affected than those which rely on global markets, and market analysts predict a robust growth for the economy of Belarus. Setting up and doing business in this country will be challenging, but do not be afraid of the hard work, as your efforts will pay off in the end. 

Language 

The Belarusian language (also known as White Russian) has been the official language since 1990, before which it was Russian. The majority of the population speaks both Russian and Belarusian, and in addition many people also speak Ukrainian and Polish. A number of businessmen are fluent in English, but because the legal system of the country is quite complicated, it is strongly recommended that a professional interpreter is employed when one is doing business in Belarus.

Meeting People

The Belarusians are often referred to as ‘the most patient Slavs’. Rather than getting involved in conflict, they would prefer to sort out any kind of problem through peaceful negotiation. In public, Belarussians are quite restrained. However, if you are greeted very enthusiastically and with a hug and/or a kiss, then you know that a good relationship has been established.

One of the typical weekend activities for Belarusians is working at their ‘dachas’ (country houses) growing fruit and vegetables. If you are travelling around by car, try to avoid driving on Friday nights especially during the summer, as roads are jammed with lots of people on their way to ‘dachas’ outside the cities. Belarusians are very proud of their plots of land, so do not be surprised by the excitement of a successful local businessman when showing you his tomato plants!

Belarusian Business

Business meetings in Belarus are quite formal. It is essential to make an appointment with your partner before your visit to Belarus. Avoid doing business in the first week of May as it has several public holidays. All foreigners staying in Belarus, whether on a short visit or on a work permit, are required to register with the local department of the Office of Visas and Registration (OVIR) within three days of arrival in Belarus. If you are staying in a hotel they will arrange this for you.

As bureaucracy is still very cumbersome in the country, to speed things up you can try to find a third party (preferably someone local with a good reputation and a good network of associates) who can act as your guarantor. As the level of taxation is quite high and legal regulations are quite complicated, it may also be worth looking into hiring a local lawyer or independent legal consultant.

Patience during business negotiations will always pay off. It is important to be open to concessions and be prepared to concede at least some minor things.

The Belarusian ruble (BR) is the only currency that can be used for any transactions that take place in Belarus. To account for potential currency fluctuations, business-to-business negotiations are often carried out in US dollars or euros, particularly if a foreign party is involved. But once agreed, payment is made in BR at the current exchange rate. Payments in other currencies are only permissible if made from outside Belarus.

This post has, hopefully, taught you something about the intricacies of Belarusian business culture. There is, however, a lot more to learn: a professional lifetime’s worth. At TJC Global, our interpreters are experts in Belarusian practice as much as they are experts in the language. To find out how our services can assist you on your next business trip to Belarus, visit TJC Oxford, or contact us.

Doing Business in France

General Etiquette

When meeting someone, the handshake is a generally acknowledged from of greeting, as well as kissing the person lightly on both cheeks. First names are used for family and close friends, so wait until you are invited before addressing a new acquaintance by their first name. ‘Madame’ is a basic term of courtesy for women, and ‘Monsieur’ for men. It is customary to greet shop assistants or waiters with ‘bonjour (/bonsoir) Madame/Monsieur’ (good morning/ good evening) when entering a shop or restaurant. A similar courtesy is expected when crossing neighbours in an apartment building or even in the street. If you are feeling especially friendly you can also wish acquaintances a nice day (‘bonne journée’) or evening (‘bonne soirée’). If giving a gift, be careful with your selection - flowers such as lilies and chrysanthemums are now associated with funerals, and when choosing wine, make sure you find a good quality (preferably French!) bottle. When you are the recipient of a bottle yourself, make sure it is properly appreciated and avoid being that British visitor who has one too many or who puts ice in his glass of hundred euro Burgundy Blanc.

A French dinner organised by a host will typically involve a pre-dinner ‘appératif’ of Pastis (a French anise-flavoured liqueur) or similar, with nibbles in the living room. The dinner itself normally comprises three courses, followed by cheese and coffee. During dinner, obey the continental table manners of holding the fork and knife in left and right hands respectively. It is polite not to start eating before the host or hostess has said 'bon appetit'.

Planning a Business Meeting in France

Appointments for business meetings are essential, and should be made well in advance, either by writing or telephone. Depending on the level of the person you are meeting, such appointments may often be arranged by a secretary. Attempts to schedule meetings during August will probably be futile, since this is a common vacation period for the French. The whole country tends to come to a standstill during this month, and the streets of Paris are more likely to be filled with tourists than native business workers. Also note that although the French working day is generally quite long (begin between 8.30 and 9 in the morning and ending around 6 or 7 in the evening), this almost always includes a long lunch break, sometimes of over two hours. 

Business Negotiation

 

French business emphasises courtesy and a fair degree of formality. Dress conservatively - men in dark suits, women in elegantly cut suits or a smart, formal dress. When you arrive at a meeting, wait to be told where to sit. Throughout the meeting, try to maintain direct eye contact while speaking. In your conversation, avoid exaggerated claims or behaviour that may seem overly friendly; the French do not appreciate hyperbole and often tend to compartmentalise their business and personal lives.

The French are often impressed with good debating skills that demonstrate an intellectual grasp of the situation and all the ramifications. High-pressure sales tactics should be avoided. The French are more receptive to a low-key, logical presentation that explains the advantages of a proposal in full.

Be aware that business is conducted slowly in France, and every detail of a proposal will be analysed, regardless of how minute it may be. Even when an agreement is reached, the French may insist it be formalized in an extremely comprehensive, precisely worded contract.  Remember to be patient and not to appear ruffled by the strict adherence to protocol. 

Business Language

If you do not speak French, it is polite to apologise for this, but also to try to learn a few key phrases in advance of your trip. Some useful business terms which may come up in business correspondence, or in the course of a meeting, are as follows:

•           Corporate name = Nom de société

•           The articles of association = L'acte d'association

•           The articles of partnership = Le contrat d'association

•           The by-laws = Les règlements intérieurs

•           Subsidiary = Filiale

•           Branch = Division

•           Limited liability CO = Société à responsabilité limitée (SARL)

•           Open end investment CO = Société d'investissement à capital variable (SICAV)

•           Close end investment CO = Société d'investissement à capital fixe (SICAF)

•           Manager, managing director, assistant manager, personnel manager, sales manager:

Cadre, directeur, sous-directeur, directeur du personnel, directeur des ventes.

•           Finance department,  legal department,  accounting department:

Département financier, département juridique, département comptable

It may be an idea to have one side of your business card translated into French. Although not a strict business necessity, it demonstrates an attention to detail that will be appreciated.

This post has, hopefully, taught you something about the intricacies of French business culture. There is, however, a lot more to learn: a professional lifetime’s worth. At TJC Global, our interpreters are experts in French practice as much as they are experts in the language. To find out how our services can assist you on your next business trip to France, visit TJC Oxford, or contact us.