Proceedings of the 8th International Conference on Research in Business, Management and Economics
Year: 2024
DOI:
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Fostering Agricultural Sector Growth Through International Trade – A Strategic Key in The Development of Agri-Food Markets
Ioana Panait
ABSTRACT:
The article explores the interconnections within the strategic development paths of the Romanian agri-food sector through the enhancement of international trade. The importance of foreign trade for the agriculture sector is significant and multifaceted, contributing to various aspects of agricultural development promoting global stability regarding food, fostering economic growth, and sustainability. The research theme holds essential significance the proper functioning of agri-food supply chains, ensuring the uninterrupted provision of goods and maintaining adequate quantities consistently and worldwide. The specific focus on strategic directions and their performance to ascertain sustainable development is crucial for the competitiveness of Romanian agricultural enterprises and agri-food markets. Additionally, the importance of international trade plays a pivotal role in meeting the population’s food requirements. The research methodology applied include quantitative analysis to determine the dynamic evolution between 2000-2023 in volume and value level of Romania’s trade balance for the category of fresh fruits and vegetables. Through empirical research, insights into the state of international trade relations are gained, along with an assessment of the deficit in the Romanian trade balance of the analyzed market. Based on the research findings, strategic directions for improving domestic production to ensure a long-term supply throughout the year should be considered for products showing a volume deficit. This approach aims to reduce import levels while strengthening and increasing exports to balance the trade deficit.
keywords: competitiveness, food security, fresh fruits and vegetables, sustainable development, trade balance