In the past two decades the rapidly growing world trend has been toward globalization. With the emergence of the internet as a means of communication and the increasing accessibility of international trade physical barriers are not the only barriers withering away. Protective tariffs are plummeting and free trade agreements are becoming more prevalent. Romania appreciates that globalization creates favorable situations for expansion of commercial as well as economic assets. In the past year Romania has seen a foreign direct investment (FDI) increase of 199%. Inward FDI increased from EURO 234 million in 2005 to EURO 699 million in 2006. However, Romania realizes that increased globalization does not automatically produce more equality.
Globalization and Development can contribute to the advancement of the overall international human condition; however, the delegation of Romania recognizes that without proper regulation the potential for advancement will remain limited to an elite few individuals, businesses, and nations. Unless checked and aimed toward the common good, globalization cannot effectively serve the global community. Crucial in dealing with the complexities of globalization, good governance must act with solidarity and responsibility. Romania believes that in involving people in globalization we must promote moral values, democratic principals, inclusive global political culture, institutions that safeguard both individual civil rights and inherent freedoms, and the common good. In addition, coping with the influx of information from globalization governments must act with solidarity and insight. Access to digital education will undoubtedly result in the confidence of citizens in their respective administrations and allow for a greater degree of transparency, and therefore a lesser degree of corruption.
Romania believes the multinational business community has the ability and the obligation to support pertinent values in human rights, labor standards, and environmental preservation. As stated by the president, Mr. Traion Basescu, Romania feels a "heartfelt attachment to multilateralism, as an effective instrument designed to identify the adequate answers to the challenges brought by globalization."
Romania is party to the majority of multilateral treaties and conventions identified as such by the Secretary General in the context of the Millennium Summit in 2001. Romania has always supported innovative and effective ways of establishing cooperation within and between regional organizations. As one of the newest members of the European Union, Romania is an active member of the World Trade Organization, and looks forward to offering its support to the redirection of globalization to best benefit the global community.