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Romania wants to block foreign access to agricultural land

23. February, 2012

Romania’s Agriculture Minister Fuia Stelian is planning to change the terms of the country’s EU accession treaty and block the foreign access to Romania’s agricultural land market from 2013 onward.

According to the current treaty, the market should be opened and allow foreigners to purchase land in Romania without setting up a local company first.

By changing the terms of the EU accession treaty, Romania wants to protect it’s agricultural sector from investors who would take advantage of the low prices and try to control the country’s agriculture.

The price of agricultural land in Romania is one of the lowest in European Union ranging between 2,500 EUR to 5,000 EUR per hectare. For comparison, the price of land in countries with more developed agriculture sectors reaches  10,000 –  15,000 EUR per hectare.

According to Romania’s Agriculture Ministry, foreign companies already own 8.5% of the country’s arable land.