At the Forbes Business Bridges event in New York, His Excellency Dan-Andrei Muraru, the Ambassador Extraordinary and Plenipotentiary of Romania to the United States, highlighted the evolving and deepening ties between Romania and the U.S. in the fields of technology, retail, and real estate.
Ambassador Muraru emphasized the significant potential for collaboration between the two nations, especially in harnessing the power of artificial intelligence (AI), transforming the retail sector, and driving innovation in real estate.
He pointed out Romania’s rapid advancements in technology, particularly in AI, as well as the country’s increasing appeal as an investment destination, fueled by a highly skilled workforce and an innovative business environment.
As both nations navigate these transformative industries, the forum served as a platform to explore opportunities, share insights, and strengthen business connections that will shape the future of bilateral relations.
Key statements by His Excellency Dan-Andrei Muraru, the Ambassador Extraordinary and Plenipotentiary of Romania to the United States of America from Forbes Business Bridges:
We were just reminiscing about the moment we met more than 10 years ago, and I was telling Peter earlier how incredible it is, Raluca, that you’ve successfully grown the Forbes brand in Romania. In just a decade, you are now conquering the other side of the Atlantic, and we are thrilled for you. Congratulations!
Ladies and gentlemen, honored guests, it’s a privilege to be here at this prestigious event, surrounded by visionary leaders from both Romania and the United States, as well as distinguished editors from Forbes USA. Thank you, Peter, for your insightful speech and for providing such a broad perspective on the framework we are trying to navigate. Together, we stand at the intersection of innovation, collaboration, and global progress – a moment where technology, business, and diplomacy unite to shape the future.
As Romania’s ambassador to the United States, I have the privilege of witnessing firsthand the strength of the ties between our two nations. These ties extend beyond traditional diplomacy; they are rooted in shared values, a mutual desire for innovation, and a commitment to building a better future for our people.
Now, I’d like to briefly touch on each of today’s panels. The first panel naturally focuses on the future of technology, shining a spotlight on one of the most transformative forces of our time: artificial intelligence. AI is not merely a tool; it is reshaping industries, economies, and the way we connect across borders. And where does Romania stand in this evolving landscape?
Romania is already a rising star in this field. With over 120,000 IT professionals and an industry growing at more than 10% annually, our country is well-positioned to lead AI research and development in our part of Europe. The IT and software sector now contributes 6% of Romania’s GDP, and we are home to globally recognized tech companies like UiPath, which became Romania’s first unicorn and one of the most successful AI-driven automation companies in the world. Globally, the AI market is expected to reach $190 billion by 2025, and Romania is poised to take advantage of this growth. Our highly skilled workforce and competitive cost base make us an attractive destination for foreign investment in AI and tech innovation. As we discuss AI’s impact on global connectivity, it’s essential to recognize that the future of AI will be shaped by how well we collaborate internationally to unlock its full potential.
Moving on to the second panel: the retail sector is also undergoing profound changes as we move toward a “clicks and mortar” world. The convergence of online engagement and in-store experience is creating new dynamics for both businesses and consumers. In Romania, e-commerce has grown by 30% in recent years, with over 13 million internet users and a highly connected population.
Globally, the “clicks and mortar” trend is reshaping retail by combining the convenience of digital shopping with the tactile experience of physical stores. According to recent studies, the global retail tech market is projected to exceed $45 billion by 2027, driven by consumer demand for hybrid shopping experiences that merge digital convenience with physical interaction. This evolution offers immense opportunities for collaboration between the U.S. and Romania. American companies have long been pioneers in digital retail strategies, while Romania, with its growing consumer base and appetite for innovation, is an ideal partner. Together, we can create a future where shopping – whether online or in-store – is seamless, personalized, and efficient.
Finally, we come to real estate, your third panel today. Real estate – the foundation upon which our businesses and communities are built – is also undergoing a revolution. Digital transformation is reshaping the way we buy, sell, and invest in property.
Romania’s real estate market has been growing steadily, with a 9% annual growth rate in the commercial real estate sector and increasing foreign investments. Globally, the integration of technology into real estate, through innovations like PropTech and smart buildings, is changing the way properties are developed and managed. According to recent data, investment in PropTech startups globally reached nearly $10 billion in 2022. Romania is tapping into this potential by attracting both local and foreign investors. Real estate is also an important area of cooperation between the U.S. and Central and Eastern Europe. Romania’s strategic location, combined with its burgeoning real estate market, offers unique opportunities for American investors. In the commercial real estate sector alone, Romania attracted $1.2 billion in investments in 2023, showcasing the country’s growing appeal as a business destination.
In conclusion, my dear friends, I would like to point out that, much like technology and retail, real estate thrives on innovation. It is through our partnerships that we will build the cities and communities of tomorrow, brick by brick. So let’s seize this moment to strengthen our business ties – hence the theme of today’s event – and harness the power of technology to shape a future that benefits us all.
Thank you again for inviting me here. It’s a great pleasure to be with you today, and to see some of our embassy’s sponsors – past, present, and, I hope, future – in this room. I look forward to the valuable insights that today’s panels will undoubtedly provide.
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