H.M. King Carol I

In the following years, the chamber system in Romania underwent multiple legislative changes, including the signing of Royal Decree 1551/1886 by H.M. King Carol I. During this modernization period, construction was a crucial aspect, and the Chamber of Commerce Palace, inaugurated in 1911 by King Carol I, was among these developments. The monarch understood the necessity of legislative and organizational reforms for the country’s development, including removing the chambers from governmental authority. This reform, which reduced the number of chambers from 15 to 10, remained in effect for nearly 40 years and marked an important step in Romania’s economic history. During this period, the chambers of commerce also made significant contributions to the country’s development through legislative projects such as: the creation of the “Bucharest-Constanța Railway,” “The reimbursement of customs duties paid for raw materials or materials imported and used for the production of industrial goods for export,” and “The establishment of lower commercial schools.”

H.M. King Ferdinand

In 1925, King Ferdinand signed Decree 1450 of 1925, marking a significant stage in the history of the Chambers of Commerce. Known as the “Unifier of the Country” for his role in the Great Union of 1918, Ferdinand I was a leader dedicated to the modernization of Romania. Through this new law, the Union of Chambers of Commerce and Industry was established, increasing the number of chambers to 30, and their competences were expanded. These institutions, subordinated to the Ministry of National Economy in 1938, played a crucial role in the economic development and modernization of Romania, influencing commercial education, international relations, and the liberalization of trade.

“History of Romanian Commerce” by Nicolae Iorga

The Chambers of Commerce initiated an important movement towards establishing a “History of Romanian Commerce,” under the guidance of the prestigious Nicolae Iorga. In 1925, at the request of the Chambers of Commerce and with the support of the “Merchant Council of Romania,” Nicolae Iorga published the work “History of Romanian Commerce” in two detailed volumes: “The Old Age” and “The New Age,” covering the history of Romanian commerce from the Roman era to the contemporary period of the author. The work spans centuries of history, analyzing essential documents and offering a complex perspective on the evolution of Romanian commerce.

“A new representation of commerce is greatly needed. The Chambers of Commerce must be Chambers and influence commerce decisively, awakening the good, stopping the bad, supervising everyone, and taking full responsibility for their activities every moment.” – Nicolae Iorga

The Chambers of Commerce Fund the Construction of the Academy of Economic Studies Palace

The year 1926 marked the active involvement of the Chamber System in developing economic education in Romania. The Chambers of Commerce financially contributed to the construction of the Academy of High Commercial and Industrial Studies, today known as the Academy of Economic Studies, demonstrating their commitment to developing economic education. The president of the Chamber of Commerce at the time, Dr. Ștefan Cerkez, emphasized the importance of the close ties between the two institutions and the crucial role of the Academy in preparing future leaders of Romania’s economy: “The Academy of High Commercial and Industrial Studies represents, in our eyes, not only the school where one learns and earns a diploma. Today’s students are the industrialists, merchants, and trained and conscious leaders of our economic life tomorrow. This institution, therefore, represents the guarantee of the flourishing future of Romanian trade and industry.”

H.M. King Carol II

The gatherings of the Chambers of Commerce played a crucial role in directing Romania’s economy and society during King Carol II’s reign. The documents from these gatherings represent an invaluable source of information about the decisions that influenced the course of Romania’s economic and social history. Among the topics discussed at these assemblies were: tax reforms, adjustments to transportation tariffs, revision of social legislation, and the promotion of investments and bank credit. The adoption of the Usury Law marked a key moment in the fight against financial abuses. These gatherings remained a fundamental pillar of the country’s socio-economic development, decisively influencing the nation’s progress and direction.

The Communist Period

After 85 years of development and contributions to modernizing the business environment, the Ministry of Commerce and Food in the People’s Republic of Romania, through Decree no. 74 of February 25, 1949, abolished the Chambers of Commerce, except for the one in Bucharest. The latter was reorganized as the Chamber of Foreign Commerce of the People’s Republic of Romania, adapting its role to the requirements of the socialist regime. In 1973, the name was changed to the Chamber of Commerce and Industry of the Socialist Republic of Romania, maintaining various forms and a reduced capacity during the communist period. However, the continued existence of the Chamber of Commerce, even under the communist regime, acknowledged the importance of this public entity in the country’s economic life. A notable example is the establishment of the Exhibition Office within the Chamber of Commerce of Romania in 1963, which later became Romexpo S.A. in 1991, with the Chamber of Commerce and Industry of Romania as the majority shareholder.

The Transition Period

After December 1989, the Chambers of Commerce were revived with the adoption of Decree-Law no. 139 of May 11, 1990, which allowed for their re-establishment. The Romanian Revolution of 1989 marked the end of totalitarianism and the beginning of a new era of freedom. In a transitioning economy, the Chambers of Commerce, with their 126 years of experience, became vital landmarks for economic reconstruction. The Chamber of Commerce and Industry of Romania assumed the role of a non-governmental organization, promoting Romanian trade and industry, supporting merchants’ interests, and contributing to the reconstruction of the market economy in preparation for integration into the European Union. It also developed the Trade Register, contributed to vocational education, and strengthened the exhibition sector through Romexpo SA, known today both nationally and internationally.

Present

The Law 335/2007 redefined the national network of Chambers of Commerce, reflecting the 1925 model, with one chamber in each county capital, under the coordination of the Chamber of Commerce and Industry of Romania. Today, the chamber system is the most extensive business network, legitimized by partnerships and members from various sectors. The Chambers of Commerce have played a crucial role in developing essential economic institutions, such as the Trade Register and the Romanian Stock Exchange. Today, the Chamber of Commerce and Industry of Romania provides services to support the business community, promoting international cooperation and facilitating access to business information. Additionally, through global partnerships, it contributes to increasing international trade and recognizing performance in the domestic business environment through initiatives such as the National Top of Firms.