A new foreign exchange system has been introduced in which banks play a more active role in setting the Leu exchange rate. The Ministry of Finance and the National Bank of Romania administer Exchange control. Trade General Samples sent directly to importing organisations are admitted duty free. No Import or Export Licences required excepted for arms, or quotas falling under International Agreement, and barter business. Foreign Trade is now totally decentralised.
Imports are subject to customs tariffs as stipulated in the import custom tariff regime.
Romania utilises the International Harmonised Commodities Description and Coding System. There are free trade zones at Sulina, Constanta Sud, Galati and Braila. Various forwarding and trading companies offer warehousing facilities at very low costs. Import duties are usually calculated on the CIF Romanian port of entry value of imported goods. Since the trade agreement was signed on the 18th October 1990, great economic progress has been made between the two countries.