Institute of International Relations and Economic Cooperation

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Posted by Institute of International Relations and Economic Cooperation on March 12, 2017 at 12:05 PM

Friday, 10 March 2017, The Institute of International Relations and Economic Cooperation hosted a debate on the dire situation of the Romanian economy as revealed in the latest United Nations Expert Philip Alston report.

Romanian authorities are in denial over the poverty and crisis in the country-Philip Alston.

The regular economic study conference has united economical experts from Romania, European Parliament, managers and personalities of political, economical and academic life of Romania.


The most important topic was highlighting the negative effects of publicising doctored reports about Romanian economic development, reports that are having no bases in real economy and are reminiscent of the communist like distortions of economic figures.


Romanian economy is in deep crisis and poverty, and no amount of lies and propaganda can change this fact, and the latest popular revolt of January 2017 was triggered by these politic of economic lies, was the conclusion of the debate.


2009- 2016 –the world crisis and the long-lasting impact on Romanian economy.




Three hundred economists, bankers and economic journalists attended the economic conference.


The conference started with an evaluation of the first wave of impact of economic crisis in the recent period: 2009-2016.


Between 2009-2016 the economic crisis has affected the vital areas of economic life: the collapse has started with construction industry and construction material factories and collapse continued with huge levels of unemployment ad poverty.


Others affected sectors where: insurance, banking and stock exchange and in all the financial sector was also strongly shaken.

In total the economic output of Romanian economy has gone down by 35%, unemployment around 40% of the working force and forced below poverty line over 65% of country population.




Romania: the most poverty striken country in Europe.

No economic growth, no jobs, no hope!

The consumer confidence has fallen sharply and the Gross Domestic Product (GDP) has being reduced with 10% in 2010 and 8% in 2011 to decrease further with margins between 2-3% in 2013 to 2016.

The decrease in Romanian economy has being so devastating, today we are below the 1996 level-the record law of Romanian economy.

Unfortunately, the economic collapse of 2012-2016 has laid the foundation for a crisis without equivalent in Romanian history that will affect the country in 2017.

2012-2016: The period of economic disaggregation of Romanian economy.

2012 and 2016 period will be remembered as the worst time of recent economic turmoil in Romania, was the conclusion voiced by all the experts at the gathering.


In 2015 and 2016 the Romanian economy had started to show signs of deep financial crisis.

The banking and insurance system has being especially hard hit and this had made the fragile Romanian economy to reach the breaking point.

The inflation had resurfaced from January 2017 and the experts appreciate that a 20% percent yearly inflation is unavoidable.

The resurgence of inflation had put a dramatic pressure on population economy and had made any recovery unthinkable for the next 4-8 years.

The collapse in economic system, the fact that internal and external investments had being reduced to minimum, the credit on internal market has being practically suspended, and this year the GDP will shrink by 3 to 6%.

A factor not to be neglected in amplification of the crisis is the governmental incompetence that by increasing the taxes, legislative chaos and a deliberate politics of destroying the middle class investors in the favor of big companies succeeded only to aggravate the economic crisis.

Vox populi 2017: Hunger and poverty had engulfed Romania.

2017 – Maximum point of Romanian economic crisis.

The most worrisome factor in January 2017 is the information that: almost 700.000 Romanians are in financial bankruptcy according to National Bank estimate.


The 2017 will be a decisive year when Romanian society with almost 60% of population living below poverty line will be confronted by the ripple effects of European meltdown and world stagnant economy.

Until now the Romanian economy was hit hard by his own faults like: reduced productivity and competitiveness, chaos in the governmental policy, crippling inflation etc.


In 2017 Romania will be affected by inflation rise, economic gaping deficit and in practice an economic shut down.

In January 2017 the number of economic actors and private factories registration has gone down by a whopping 33,94% announced National Council of Small and Middle Enterprises.


Practically we are speaking about economic shut down and devastating economic crisis that will see probably 1 to 2 million Romanians leaving the country in the next two years.


The spiraling down of economy will be affected by the decay in European economic activity, effects of anti-Russian sanction and the redraw of investors from the Eastern Europe markets in the aftermath of Greece and Hungary crisis.

Crisis hit Spain, Greece, and Ireland and slowing down economy of Germany, France and Great Britain exit, will impact negative on Romanian chances to get access to European funds and foreign investments.

The negative impact of European Union financial and confidence crisis will account for a 3-6% percent reduction in Romanian GDP this year.

2017 will be without a doubt a period of a new catastrophic decline.

It must be very clear, all economic experts underlined, that the present economic decline will last for at least a decade at European level.

Any statements about a Romanian economic growth are unsubstantiated or bluntly laying.

On European level the forecasts are speaking about the lost decade of Europe between 2010 and 2020 , term referring to the blocking of economic development at continental level and the frozen of present situation for a decade.

Those that are declaring that Romania will surpass the period of recovering of France or Great Britain economy , are telling stories that are unbelievable , closed the argument the chief economist Mihail Raceanu.

It will be a miracle if we have in 2017 a decrease in real economy of less than 10% and in the interval between 2017 and 2022 to stop the decline and in 2025 to start the recovery.

2017 budget-A budget that will trigger a deeper economic crisis.

In 2017 the Romanian economy is coming to the fore not only with the negatives trends of the last years and a crippling luck of funding and investment but also with a budget of incredible largesse that will direct Romania to plunge into a new economic meltdown.

The 2017 budget is impacting Romanian economic stability and is giving a sign of chaos in the government economic policy.

The 2017 budget expected huge deficit is not offering any chance for a real economic recovery, inflation will destroy the country financial reserves and the individual savings as well and the decline in the economy is estimated by independent economists around 3-6% percent of the GDP by the year’s end.


Reduced foreign investment and dramatically shrinking internal private investment means that Romania will have now more that 2 billion euro (in an optimistic assessment) for direct economic investment programs.

The country needs at least 20 billion per year to modernize the economy and to have a decent growth rate of 1-2% percent per year.


The present day budget of 2017 is not only of severe economic chaos, but of severe contraction, stated the economists present at the meeting.

Romanian economic recovery: postponed to 2050.

This assessment was a strong one, keeping in mind that the pre-crisis governmental statistic declared that in 2025 Romania will succeed in recuperating the gap and reach the level of industrial activity prior to 1989 Revolution.

This perspective is no longer feasible, a new perspective is appearing after the crisis and after the lost decade and a cumulative GDP decrease of more than 60% from 2007 economy level.

The economic recession will make it hard for Romanian economy to recuperate the last loses in the context of negative governmental involvement, high inflation, drastic increase in country debt, the general economic climate of recession and finally the worst factor of all: the burden of external debt.

The collapse in economic system, the internal and external investments will be reduced to minimum, the credit on internal market will be suspended and all this will provoke this year an economic decrease of more than 5% of GDP or even 8% of GDP after others opinions.


External debt risk can plunge Romania into financial meltdown.

The fear factor that will suffocate Romanian economy in the next period will be, after 2017, the foreign debt crisis.

The government has careless accepted more than 36 billion dollars credit and in total: the private and state debt of Romania is reaching the unbelievable sum of 105 billion dollars, this only if the government will no longer accept new loans.

Despite the writing on the wall, in all of cases like: Greece, Spain and Ireland, Romania is accepting new loans from private banks, loans that will not be invested in developing and modernizing the economy but in salaries and pensions.

This consumer invested loans at extortionate interest rates, will suffocate completely an ailing and failed economy as Romanian economy is.

Another gloomy factor is the unemployment: with a rate of registered unemployment of more than 15% of the active population and with another 35% percent of the population already left out of the governmental unemployment aid, Romania tops many EU member countries with a real unemployment figure of more than 50% of the population.

This figure must be put in perspective with more than 60% of the population below the poverty line and the full picture of the economic meltdown and social tragedy could be analyzed.

Romania economy is in crisis and no plans for a future development had being adopted.

2017: The financial and banking crisis.


The conclusion of the most important economic experts in Romania was clear: the crisis is not over by far, but has entered in a more difficult phase that will affect financial and banking system and economic fundament`s.

The economic crisis will continue until 2020 at the earliest and a coming back cycle that will last until 2025.

This decade will be, without a doubt, the lost decade of Romania, but if the necessary measures are not rapidly taken to re-establish control on economic decline than we risk that Romania economy will not come back not even in 2025.


The situation is made even worst by the fact that: Romanian leaders are in denial in regard to the social and economic crisis of the country as UN rapporteur Philip Alston stated.


Posted by Institute of International Relations and Economic Cooperation on December 12, 2016 at 7:00 AM

On 8 December 2016, in the General Headquarter from the Mountain-“El Cuartel”, Venezuelans marked the four-year anniversary of former president Hugo Chavez’s last speech, with current head of state President Nicolas Maduro calling for national unity.

“We must keep alive the flame of our comandante Hugo Chavez,” Maduro told supporters of Bolivarian revolution gathered in large numbers in Caracas.


The president said the last four years have been difficult for Venezuela, but argued the country’s socialist revolution has survived despite an “economic war” being waged by his political opponents and international oligarchy.


“We can say that in four years we have been loyal to comandante Chavez,” President Maduro said.

Elsewhere in Caracas, light shows displayed images of Chavez on buildings and a special service with cabinet ministers, social movement leaders and international guests such as the former president of Honduras, Manuel Zelaya, was held in the “El Cuartel” Mountain Barracks where President Chávez was laid to rest.

Thursday marked four years since Chavez gave his last speech, before heading to Cuba to undertake a final round of cancer treatment in December 2012. During the now iconic speech, Chavez expressed hope he would return to Venezuela to resume his position as president but also taken provisions to the contrary.



“I have complete faith that with God’s help we will emerge victorious. We have always lived from one miracle to another,” he said at the time.

He also urged his supporters to back Nicolas Maduro in the case of his own death as the only leader who can direct toward victory his Bolivarian Revolution.


The last speech of President Hugo Chavez is largely credited to being a chartered road toward progress and development for Venezuela and is cherished by Venezuelans and international leaders as the quintessence of Bolivarian way of building a powerful democracy and a progressive country.


“If something were to happen that would make it impossible for me to be president, Nicolas Maduro should assume power for the short time left in this term. But also, it is my firm opinion, my complete and irrevocable opinion, that under this scenario, you should all vote for Nicolas,” he said.


The ceremonies were attended by progressive thinkers, journalists, members of trade unions, diplomats and political leaders from across Asia, America and Africa among them being noted the former President of Honduras and present President of Popular Resistance Movement, Manuel Zelaya, Minister of Foreign Affairs of Haiti, Pierrot Delienne, Chilean senator Alejandro Navarro, minister of culture of Cuba, Abel Prieto, Dominican Republic Minister of Industry and Commerce, Temistocles Montas and Argentinian singer and composer Pedro Aznar and Chinese painter Jun Chengsong who presented a special portrait made to honor Chavez legacy.


Posted by Institute of International Relations and Economic Cooperation on November 21, 2016 at 7:40 AM

On 18 November 2016 the official visit, marking the opening of Autumn 2016-Romania Tourism Fair at the ROMEXPO Hall, in Bucharest, has taken place.

Bread and Salt: Traditional welcome for H.E. Professor Dr. Anton Caragea-President General Director of Institute of International Relations and Economic Cooperation and Academician Mircea Constantinescu opening the 2016 TOURISM FAIR.


The 18 November official tour of the exhibition had taken place under The High Patronage of President of Institute of International Relations and Economic Cooperation of Romania.


On this occasion Professor Dr. Anton Caragea-President General Director of Institute of International Relations and Economic Cooperation has made the official tour of honour for all the pavilions that promoted outbound and inbound tourism, accompanied by a delegation of members of Romanian Parliament and the usual retinue of governmental officials.


The Romanian Tourism Fair has garnered the most important tourism companies that outlined special offers for the lovers of cultural tourism, medical tourism and wellness, rural and business related tourism but also presented offers for aficionados of cruises, exotic destinations and adventure tourism.


Professor Dr. Anton Caragea had toured the areas dedicated to the promotion of wine tourism and stressed his office support for wine discovery based tourism programs, that are allowing visitors to familiarized themselves with Romania`s natural beauties but also to taste the incredible Romanians wines.



H.E. Professor Dr. Anton Caragea and IRICE delegates are admiring traditional dances from Bucovina.


On the pavilions acknowledged by Professor Dr. Anton Caragea, IRICE President and Global Ambassador for Tourism we can count the COTNARI stand that promoted not only the perfection of Cotnari Wines but also Cotnari region as the heartland of Moldova`s tourism.

President Dr. Anton Caragea also visited the pavilions of Socialist Republic of Viet Nam, Hungary, Bulgaria and delivered a speech on Movenpick stand on the opportunities offered by Middle Eastern tourism.

Professor Dr. Anton Caragea visited the Photographic Exhibition ans encouraged the artists present and was received as distinguished guest by the representatives of the transport companies like Air Berlin, Blue Air and made a special stop over to the National Air Transport Company TAROM, where IRICE President took his time and attended a photo session with the employees of the national air company.



The open conference held by Professor Dr. Anton Caragea on Middle Eastern tourism opportunities was attended by tourism specialists, mass media and governmental officials.

Romanian Tourism Fair 2016 was a pleasant opportunity to meet the representatives of the tourism and air transport companies and to discuss new methods to improve tourism at world level and more than everything provided us with a rostrum of discussions for the future elections on WORLD BEST TOURISM DESTINATION FOR 2017 and WORLD CAPITAL OF CULTURE AND TOURISM IN 2017 stated IRICE President Professor Dr. Anton Caragea in the concluding remarks of his visit.


Posted by Institute of International Relations and Economic Cooperation on October 30, 2016 at 7:15 PM

On 29 October 2016 at the ROMEXPO Hall in Bucharest, the opening ceremony of Food and Agriculture Exhibition has taken place.


Professor Dr. Anton Caragea, MA, FNS, EDA and Romanian Parliament members lead by Senator Ionel Agrigoroaei are starting their tour with a visit to HOUSE OF PANCIU (Casa Panciu)official diplomatic partner.


The exhibition had taken place in the period between 28 to 30 October 2016 and was held under The High Patronage of President of Institute of International Relations and Economic Cooperation of Romania and was convened to coincide with the celebration of WORLD FOOD DAY 2016.


On this occasion, Professor Dr. Anton Caragea-President General Director of Institute of International Relations and Economic Cooperation has opened the exhibition and visited the established pavilions accompanied by a delegation of members of Romanian Parliament, lead by the Senate leader of activity Senator Ionel Agrigoroaei and a retinue of governmental officials.

Opening the food and wine show, IRICE President, Professor Dr. Anton Caragea had delivered the official remarks for WORLD FOOD DAY 2016.


Professor Dr. Anton Caragea surrounded with love and respect by the students and professors of Agricultural High School-future agricultural specialists of Romania.

The declaration read in part that:

Today 2016 Agricultural and Food Exhibition is devoted to provide the image of the enormous potential and the endless possibilities of family farming in providing food security, development opportunities and a better future for collectivities across the world.(…) international food organizations are emphasizing the family farming as the core on which our future food and nutrition security pivots.

This is even more real in Romania`s case where 85% of the agriculture output comes from family farming and in our declining economy only the agriculture is the main center of our financial resilience.

When we are looking at this plenitude of food and richness of agricultural produces we must remember that food insecurity is still a plague for more than 1 billion people’s and the achievement of Zero Hunger Goal is still far a way as we have registered a number of 805 million food insecure people’s and 162 million chronically malnourished children.


Our efforts as World Ambassador and our activities in the Parliamentary Assembly for Sustainable Development Goals are directed to doing just that.

Our High Office will continue partnering with the private sector, civil society, all our UN partners, the governments where we serve, but most importantly with the people.

After the exhibition being declared officially opened the delegates toured the exhibition and made the first lay over at the place chosen by Senator Ionel Agrigoroaei, the stand of Casa Panciu (House of Panciu) the creator of Romanian Diplomatic Wine for 2016.


The Romanian researchers are a pride for our country say`s Professor Dr. Anton Caragea in his visit to Pietroasele Wine Research Institute.


Casa Panciu had presented on the opening of National Wine Salon a selection of the best wines of 2014/2016: the Muscat Ottonel sweet wine, which had conquered the public with his pungent aroma, fine pearled image and the apple and fruity dominated taste a wine nearing perfection and marked with 94 points out of 100 for the citrus flavor.


Amongst other new wines presented where: the Rose Wine of House of Panciu that completed the initial success of the Rose Sparkling Wine, launched in the spring of 2014 and a preferred wine by the Italian tasters present at the venue: the white Cabernet Sauvignon, that conquered all hearts by his long lasting aroma, fine taste and technological mastery.


The Feteasca Neagra (Black Girly) by Casa Panciu was undoubtedly the Queen of the festivity. After it was highly noted at Vinitaly (Italian wine contest) in March 2014 and voted by the diplomatic committee in April 2014 at Good Wine, as the Best Red Wine in 2016, it catches the eyes of all the visitors and good wine lovers.


Casa Panciu had presented the celebrated national wine ilk: Feteasca Neagra in two separate editions, one under the brand of Panciu Domains (Domeniile Panciu) and one under the name of Casa Panciu (House of Panciu) both united by a perfect mastery of the tannins, a perfect maturity potential that is promising a good evolution in the bottle and will offer full enjoyment to the consumers for many years to come.


The guests present on the venue, crowded to taste the Muscat Ottonel Sparkling Wine, the Best Romanian Sparkling Wine for 2015, awarded by The Institute of International Relations and Economic Cooperation the title of Diplomatic Wine, the Romanian representative wine.



Congratulations are pouring for Professor Dr. Anton Caragea-IRICE General Director and Senator Ionel Agrigoroaei from organizers and visitors alike.


After touring the Casa Panciu stand, Professor Dr. Anton Caragea has continued his tour, making a stopover, to review the Economic and Food Industry High School Pavilion.

On this occasion the staff and students of Economic and Food Industry High School where presented to and congratulated by Professor Dr. Anton Caragea as the future specialists of Romanian food and agriculture industry.


The visit to the exhibition hall continued with the discovery and promotion of Romanian quality wines, with an on the spot visit to the pavilion of Wine Research Institute from Pietroasa were had tasted the high quality wine made by researchers and university professors of the center.

The unstinted offer comprised specific Romanian wine sorts like: Feteasca Neagra (Black Girly), Busuioaca de Bohotin, Feteasca Albă (White Girly),Feteasca Regala (Royal Girl) and the flag-ship wine of the Research Station: Tamaioasa Romaneasca, a wine that conquered the public with his freshness, pregnant aroma, long lasting taste, fruity flavor encompassed in an exceptional wine, appraised at 93 points.


The Food and Agriculture Exhibition 2016 has proved the ever growing level of Romanian food industry and agricultural producers and the skills of Romanian wine producers, perfect represented by the Casa Panciu-the creator of Romanian Diplomatic Wine.


Professor Dr. Anton Caragea-IRICE General Director and Senator Ionel Agrigoroaei are visiting the Economic High School official stand.

The Food and Agriculture Exhibition 2016 also illustrated the potential of Romanian wine research network by the high level presence of the Wine Research Station of Pietroasele has concluded in his assessment of the Agricultural show – October 2016, Professor Dr. Anton Caragea- President-General Director of Institute of International Relations and Economic Cooperation.


The Food and Agriculture Exhibition 2016 had clearly marked a perfect opportunity for Romanian diplomacy to highlight for the world the high quality of Romanian food and agricultural industry products and to get the limelight for the traditional recipes that are transforming the Romanian food products in true symbols of perfect quality and taste, perfect for export.


Posted by Institute of International Relations and Economic Cooperation on October 30, 2016 at 6:55 PM

Venezuela and Romania are long-term partners, dedicated in building a world based on dialogue and understanding, this was the conclusion of the bilateral consultations held on 26 October 2016.

Dialogue and consultations held by H.E. Ambassador Victor Carazo and H.E. Professor Dr. Anton Caragea.

The regular cooperation and consultation meeting had taken place between Prof. Dr. Anton Caragea, President Director-General of Institute of International Relations and Economic Cooperation and H.E. Victor Ramon Carazo, Ambassador of Bolivarian Republic of Venezuela.

The dialogue was opened by H.E. Victor Ramon Carazo, Ambassador of Bolivarian Republic of Venezuela with a powerful presentation encompassing the latest developments in the political life of Venezuela.


The ambassador presented his country efforts for peaceful dialogue and peaceful resolution of all the conflicts and made a compelling presentation of the efforts of H.E. President Nicolas Maduro in opening dialogue with the opposition.

Ambassador Victor Carazo outlined also his country positions on diplomatic arena and the efforts of President Maduro to put at the same table OPEC and non-OC members in order to achieve a normalization on the oil market.



Other lines of the diplomatic activities of Venezuela where also highlighted as the recent visit to the Middle East by President Maduro and the meeting with Pope Francisc who offered Catholic church mediation services in calming the internal situation on Venezuela.

On his turn Prof. Dr. Anton Caragea, IRICE President outlined the latest diplomatic activities like the official visits to the Kingdom of Cambodia (June 2016) and Laos (September 2016), high level visits that opened new venues of dialogue and economic presence between Romania and Indochina region.

Other diplomatic achievements were noted the creation of THE PARLIAMENTARY ASSEMBLY FOR SUSTAINABLE DEVELOPMENT GOALS, a world level initiative that is self-explanatory towards Romanian international prestige as the country is seen as a moderation and neutral force highly capable in supporting world parliaments to achieve SDG objectives of United Nations.

A thoroughgoing analysis of Venezuela situation made by IRICE President, Professor Dr. Anton Caragea and Bolivarian Republic Ambassador-Victor Ramon Carazo.

IRICE President, Professor Dr. Anton Caragea avail the occasion to express his amicable fillings and friendly interest towards the efforts of President Nicolas Maduro to consolidate Venezuela`s economic development and independence, open society and are creating a sense of perfect unity between the people of Venezuela and the government.

In the concluding part of the diplomatic encounter, H.E. Ambassador Victor Ramon Carazo presented the latest evolutions in the frame of bilateral relations, emphasizing the numerous solidarity activities of people of Romania with Venezuela`s revolutionary evolutions and building new bridges of understanding between Romania and Venezuela.


The parties had appreciated that between Romanian and Venezuela there are many common interests, designed to forge a good understanding between the two nations.

The dialogue had continued on concrete aspects and analyses of economic, political and cultural bilateral relations and on ways of fostering this dialogue on to the future.


The regular consultations and frank discussions between Romania and Venezuela are a constant of the diplomatic relations and are the foundations to continue the dialogue and mutual understanding between the two countries and people’s.

The photo chronicle of the encounter can be accessed here:" target="_blank" rel="nofollow">PRESIDENT OFFICE


Posted by Institute of International Relations and Economic Cooperation on October 10, 2016 at 2:05 PM

Romania had celebrated, on 5 October 2016, the WORLD TOURISM DAY, under the banner: Tourism as a driving force for culture and development!

World Tourism Day (WTD) is held annually around the date of 27 September.

Its purpose is to foster awareness among the international community of the importance of tourism and its social, cultural, political and economic value.

The event seeks to address global challenges outlined in the United Nations Sustainable Development Goals (SDGs) and to highlight the contribution the tourism sector can make in reaching these goals.

The event has being organized by the Institute of International Relations and Economic Cooperation at Romanian Parliament and brought together governmental officials, parliamentarians from economy, industry, environment and tourism committees and diplomats accredited to Bucharest.

The event hosted at Romanian Parliament has marked the WORLD TOURISM DAY and has taken place under the high patronage of European Council on Tourism and Trade.

This year ceremonies where concentrated on Asia growing role in global tourism rapid development and Kingdom of Cambodia- WORLD BEST TOURIST DESTINATION FOR 2016.


On this occasion, Professor Dr. Anton Caragea-President Director General of Institute of International Relations and Economic Cooperation unveiled his official message for WORLD TOURISM DAY-2016:


Professor Dr. Anton Caragea during the official visit to Kingdom of Cambodia.


2016 World Tourism Day must be an occasion for us to ponder about the transformations of the sector that registered a growth from 25 million international tourists in 1956 to today staggering 1.2 billion people travelling the world.

Why is traveling so significant in today’s world? (…)

This is happening because traveling is a occasion for new experiences, new sentiments and most of all new ideas. Tourism has become a key economic factor and part of world development, a significant job creator and a forging opportunities for local communities.

Tourism is today a major source of income for local communities.

As we celebrate World Tourism Day, let us recall the success stories of tourism as a tool for fulfilling the Sustainable Development Goals, as a medium for global growth for all of the world’s citizens.

Let us evaluate and emulate the success stories of Africa: where Zimbabwe and Ethiopia had succeeded in making tourism a major earner for their economy, offering jobs, hopes and future to more than 25 millions people s involved in these countries travel sector.

More recent: The Kingdom of Cambodia became an example for Asian tourism development investing tourism revenues in infrastructure, hospitality facilities and offering growth and employment opportunities for millions of people’s of Cambodia.

This is the transformative power of tourism and this is the reasons that the world community decided to make Cambodia and Ethiopia as model countries for tourism development in 2016. (….)

I wish you all of you in love with traveling, a very happy World Tourism Day and I hope you will take the time to analyse and think about the model country of 2016 World Tourism Day: The Kingdom of Cambodia and how Cambodia has become a universal model in offering enriching and compelling travel experiences to be enjoyed by all.

The full text of the allocution for 2016 WORLD TOURISM DAY by H.E.Professor Dr. Anton Caragea, MA, FINS, ETA can be read out here:


Posted by Institute of International Relations and Economic Cooperation on September 1, 2016 at 2:10 PM

Danube Delta was always recognised as a land of uniqueness: a place unique in Europe, the greatest and most attractive world delta complex, the most impressive natural sanctuary of Europe and from now one is also the place where exist the most luxurious and well equipped hotel in a Delta: PUFLENE RESORT.



PUFLENE RESORT: a perfect place to start your journey in the splendid DANUBE DELTA.


Puflene resort is the beneficiary of a perfect "3">The perfect position allows PUFLENE RESORT to be used for a discovery trip of Danube Delta treasures, excursions that can last from a few hours to a few days trip.

PUFLENE RESORT-diplomats house

Worths mentioning that: the experienced team of PUFLENE RESORT can take care even of the smallest details of your journey through Danube Delta, putting at your disposal a large array of speed boats, cruise ships and sailing boats, that will allow you to explore even the hidden corners, in the search of the unique flora and fauna hosted by mirific Danube Delta.

If relaxation is what you seek, than also the hospitality complex PUFLENE can be your destination of choice, as will offer you the opportunity to go fishing, in the boundaries of the complex and will also provide you with in-house delights like: corporal treatments, massage, gym, indoor pool and outdoor wadding pool, sauna and even a salt mine, all reunited in a complex SPA, unique in Danube Delta and Black Sea region.

Encompassing more than 10 hectares, the PUFLENE RESORT is offering for tourists large areas, specially destined for outdoor sports like: football field, tennis courts, jogging tracks and even adventure sports towers.



Ten hectares of luxury and amusements in DANUBE DELTA.


For children and families cruising after a year of hard work only PUFLENE RESORT is the address of choice.

The children are enjoying a kingdom of wonder, spanning over 10 hectares of perfect paradise and the matures can also enjoy relaxation and enjoy the interaction with water, sun and Danube Delta unique climate of relaxation.

With 106 rooms and 16 villas, the complex is an example of good organization and comfort: all rooms are enjoying the amenities like: minibar, safes, cable television, internet connection, free wi-fi, phone, hair dryer, balcony, air conditioning, VingCard access keys, making your leisure time an occasion for perfect joy and relaxation so needed in the stressful modern world.

Carp brine: a delicious DANUBE DELTA speciality.


A strong point that needs to be emphasized is the PUFLENE RESTORT restaurant, that is offering 300 places and a menu that will dignify the royals.

All that was ever invented by Romanian, Greek or Russian cuisine, in the field of fish based gourmet palatable pleasures can be ordered here and the Danube best chefs will create you a culinary paradise for the most demanding palates.

Stuffed pike: a culinary delicacy that makes the fame of PUFLENE RESORT

Starting this moment, PUFLENE RESORT must be on your discovery bucket list as will offer you the opportunity to immerse yourself in the unique landscape of Danube Delta in the most luxurious and pleasurable surroundings.

Mihai Puflene, the men who restored to life tourism in Danube Delta is congratulated by Professor Dr. Anton Caragea, IRICE President on the occasion of diplomats visit to Danube (August 2016).


No matter what will be the reason of your visit: the yearning for discovery, the hope of a unique vacation or just the pleasure of relaxation and enjoyment of leisure, there is one place in the Danube Delta that can offer you all this feelings in a perfect package: PUFLENE RESORT.

For more information’s about PUFLENE RESORT and to book your stay click here:


Posted by Institute of International Relations and Economic Cooperation on August 31, 2016 at 8:40 AM

Professor Dr. Anton Caragea had agreed to accept the role of Global Ambassador for Kingdom of Cambodia and will start the activities on the occasion of WORLD TOURISM DAY on 27 September 2016.

Professor Dr. Anton Caragea receives the official appointment letter from H.E. Academician HUN SEN, Prime Minister of Kingdom of Cambodia (to the left of the image, the Credential`s letter of the Kingdom Global Ambassador-Professor Dr. Anton Caragea).


On July 15th 2016, the Royal Government of His Majesty King Norodom Sihamoni of Cambodia had proclaimed that on: the virtue of his constitutional prerogatives had approved the appointment of His Excellency Professor Dr. Anton Caragea as Kingdom first global ambassador.



The role of the Ambassador office will be to contribute to promoting cultural and tourism profile of the Kingdom, with all the rights, prerogatives and obligations conferred upon the role of Ambassador.

The appointment come in well deserved recognition of the cultural and tourism world level promotion activities implemented with outstanding success by H.E. Professor Dr. Anton Caragea.

On August 30, 2016 , Professor Dr. Anton Caragea had announced that he accepted the task to internationally represent the Kingdom of Cambodia.

The Kingdom of Cambodia represents a world example for cultural protection of a patrimony vital for humanity: the heritage of Khmer Empire.

On the point of view of importance and significance of historical patrimony Cambodia is part of a very selective circle that encompass no more than 10 nations on world level from the point of view of cultural significance.

Cambodia is also benefiting from an impressive natural patrimony, that come as a completion of my mandate, started in 2008, as World Ambassador for World Protected Areas and National Parks, so the two actions can be competed together, stated Professor Dr. Anton Caragea.

Amongst the first actions toping the agenda of the new Ambassador we can highlight: the launch a world-wide campaign to promote the paragon role of Cambodia`s cultural and historical heritage, giving a new impetus of economic, tourism and cultural connections between Romania and the Kingdom of Cambodia and carving a program of cultural and ecological investments in sustainable agricultural projects in silk and rice farms in Cambodia.


Posted by Institute of International Relations and Economic Cooperation on August 7, 2016 at 11:00 AM

On August 5, 2016, the new DPR Korea Ambassador Ri Pyong Du hosted a presentation of DPR KOREA CULINAR POTENTIAL.

Ambassador Ri Pyong Du and DPR Korea Embassy staff entoured by the officials: H.E. IRICE President, Professor Dr. Anton Caragea, Hon. Senator Ionel Agrigoroaei, Chairman of Romania-DPR Korea Parliamentary Friendship Group, Hon. Senator Constantin Popa, Vice-Chairman of Romania-DPR Korea Parliamentary Friendship Group and Chairman of UNESCO Parliamentary Committee and other members of Romanian Chamber of Deputies.


The culinary presentation was acknowledged by the presence of highest officials of the land, as a sign of the good bilateral relations.


The highest personalities retinue was opened by H.E. IRICE President, Professor Dr. Anton Caragea, Hon. Senator Ionel Agrigoroaei, Chairman of Romania-DPR Korea Parliamentary Friendship Group, Hon. Senator Constantin Popa, Vice-Chairman of Romania-DPR Korea Parliamentary Friendship Group and Chairman of UNESCO Parliamentary Committee and other members of Romanian Chamber of Deputies.

The culinary potential and imagination of Korean people was full demonstrated by the presentation of traditional products like: Insam soju, traditional korean beverage ginseng based, a tonic world-wide recognised for his beneficial influence on the consumers health, Japchae- a pea based noodles with veal meat and algae flavoured, the universally acclaimed kimchi could not be missing and also noodles with cow meat (Guksu).

Kimchi-an instant recognizable symbol of korean cusine.


The presentation was crowned by SINSEOLLO, the recognised jewel of Korean cooking.

Sinseollo is a full dinner experience encompassing fish, veal, omelet, sea fruits and over 12 ingredients giving a perfect flavour to the dish.

Sinseollo: an univers in a dish!

The cultural and gastronomic presentation of the korean people traditions was a perfect fruition of the vision outlined by Marshal Kim Jong UN, the korean nation leader, who ask all to present to the world the high potential of korean nation.

The Ambassador of Democratic Peoples Republic of Korea, H.E. Ri Pyong Du was warmly congratulated by the Romanian Parliament representatives on his inspirational idea to outline DPR Korea culinary potential and encouraged to strengthen the ties between Korean and Romanian people’s, by presenting the culinary potential, full of variety, of the people of the country of the morning calm, the sobriquet of Korea.

The complete photo session of the event can be accesed here: PRESIDENT OFFICE


Posted by Institute of International Relations and Economic Cooperation on July 4, 2016 at 5:35 PM

The Kingdom of Cambodia had received the official visit of Professor Dr. Anton Caragea high-ranking delegation in a joint effort to boost the friendship and dialogue on international stage.

The visit was inscribed in the bilateral decision to uphold the rapid development of the cultural, trade, economic and political ties.

The important visit had registered two levels of discussions and dialogue: the political, diplomatic and international dialogue and the fostering of cultural touristic and educational cooperation.

The visit of the Professor Dr. Anton Caragea delegation had taken place between 15 and 25 June 2016, offering them the possibility to benefit from a perfect presentation of the tourism and cultural potential of the Kingdom of Cambodia.

The delegates started their familiarization trip in the country, in the famous province of Siem Reap, home of famous Angkor temples and palaces.

Governor of Siem Reap Province is gratiously offering a stone replica of the famous King Jayavarman the VII head.

The visit of delegates led by President Professor Dr. Anton Caragea to Siem Reap was accompanied by the diligent staff of Minister of Tourism of Cambodia and the Governor of the province Mr. Khim Bunsong.

A dense and perfectly carved cultural program presented the main attractions of the regions like: the world-famous architectural treasures of Angkor Wat and Angkor Thom, the incredible magnificent construction of Bayon temple, the rich views of the red temple of Banteay Srei and the cosmic images of a vegetation invaded temple at Ta Prohm.

Professor Dr. Anton Caragea- IRICE President had voiced his enthusiasm for the province cultural and historical potential in no uncertain terms: Angkor is the place where God`s and Kings, together, build not only a powerful kingdom, not only a long-lost way of life, but another understanding of the role and potential of human civilization.

The builders of Angkor proved to us, that the humanity knows no boundaries, no limitation in constructing kingdoms with no equal under the sun.

Siem Reap is the house of every person who appreciates civilization and a must see in a life time, concluded his press statement IRICE President.

The magnificient Ta Prohm Temple, invaded by jungle and a living testimony of Khmer art.


On 17 June, a special dinner was offered to the delegates by the office of Governor of Siem Reap Province.

During the celebratory feast, an ample array of music, cultural tradition and costumes from the region was displayed for the high guests.

The next leg of the journey in the magic Kingdom of Cambodia was the familiarization trip around Phnom Penh.

The Cambodia`s capital meet the delegates with a perfect sky line, with the astonishing atmosphere of a bustling Southern Asian city and with incredible aroma, mixing monsoon air with mango and jasmine flowers, a secret aroma that only Phnom Penh has the mastery off.

A mandatory stop over in Phnom Penh: The Royal Palace.


The visit included a tour of the Wat Phnom, a discovery trip to the hustle and bustle of Central Market, a must stop at Phsar Tuol Tom Pong, better known as Russian Market, and a bird’s eye view of the awe-inspiring city monuments like: Independence Monument, the new governmental quarter of Peace Palace etc.

Phnom Penh also presented to the enchanted visitors, the gem of the city: the Royal Palace, a long lay over where the delegates took the time to admire the Audience room, the palace grounds, the palace gardens, the ballet and concert hall, the administration rooms, the museum of royal regalia and paid respects to the funerary stupa`s of former Kings of Cambodia.


A moment of silence was observed for the stupa of the latest king of Cambodia, Norodom Sihanuk, the king who was in the same time: cineaste, prime minister, party leader, king, prince, television and show man and has put his imprint on Cambodia`s XX century story.

Professor Dr. Anton Caragea honored guest at Royal Cambodian Government joint session.


The former capital of XVII to XIX century Cambodia, the city of Udong, has also received the world tourism high delegates, who took time to explore the Buddha Temple, the stupa`s of King Monivong and the ensemble of temples and Buddhist learning institutes on the ground and admired the ample view from Udong mountain.

King IndravarmanKing Indravarman-the founding father of Khmer empire.


The delegation led by President Professor Dr. Anton Caragea also attended a host of important meeting with the government staff, with an ample dialogue at Minister of tourism of Cambodia together with H.E. Minister Dr. Thong Khon.

An ample program of exchanges and continuous support was established with specialists offering expertise for a development master plan, for an eco-system protection area law and to establish a tourism institute and tourism training facilities on the Kingdom in order to meet the ever-increasing needs of tourism and hospitality expertise for the tourism industry of the Kingdom.


Incredible example of Khmer art: National Museum of Cambodia.

Professor Dr. Anton Caragea, in his capacity of World Ambassador for Natural Protected Areas was also requested to assist the Kingdom in drafting a natural areas and natural parks conservation law at international standards.

The meeting, with the able and competent personal of Minister of Tourism was especially a pleasurable one.

Dr. Thong Khon, Tourism Minister of Cambodia was specially praised by Professor Dr. Anton Caragea for his vision and astute policies and devotion to the country development, under the glowing leadership of Prime Minister Samdech Akka Moha Sena Padei Techo- Dr. HUN SEN.

Amicable and all encompassing dialogue between H.E. President Dr. Anton Caragea with H.E. Prime Minister Samdech Akka Moha Sena Padei Techo – Academician Dr. HUN SEN.


The most important political moment, in IRICE President visit to the Kingdom of Cambodia, was the meeting of the delegates headed by H.E. President Dr. Anton Caragea with H.E. Prime Minister Samdech Akka Moha Sena Padei Techo – Dr. HUN SEN.


During the leaders conversation, the long history of Cambodia renaissance in XXI century, under the able leadership of Prime Minister Samdech Akka Moha Sena Padei Techo- Dr. HUN SEN was warmly evoked.

President Anton Caragea remarked that we are in the presence of a historical leader, of a person who rebuild it Cambodia from zero to hero status, and was always a symbol of the country resistance.

President Dr. Anton Caragea remarked in his speech in front of the Parliament and Royal Government of Cambodia that: Encouraging tourism and trade relations with Cambodia, we did not forget for a moment that we are not encouraging people to go in strange and un-familiar place.

No, we are just telling them to discover a people who is world-renowned for his hospitality, familiarity and openness to strangers: the Khmer people!

They will make you feel that you are rediscovering your home, that you are finding long-lost friends and families, that you are visiting you abode-Cambodia.

The visit of delegation led by President Professor Dr. Anton Caragea was a momentous occasion to rebuild the bilateral connection after the last official visit had taken place in 1978.


Today the connection was re-established in full gratitude to the exertions of H.E. Professor Dr. Anton Caragea and H.E. Prime Minister of Cambodia-Academician Dr. Hun Sen.


Posted by Institute of International Relations and Economic Cooperation on June 27, 2016 at 6:10 AM

On the occasion of the official visit by the delegates headed by IRICE President to the Kingdom of Cambodia, Professor Dr. Anton Caragea has being invited to keep an extraordinary speech to the Parliament of Cambodia.

H.E. Professor Dr. Anton Caragea address to the Royal Parliament of Cambodia.

A momentous occasion.

This is an honor reserved only for the visiting head of states or world prominent leaders, the most recently awarded with this honor being the United Nations Secretary General-Mr. Ban Ki Moon.

The discourse, presented by H.. Professor Dr. Anton Caragea in front of the joint session of Parliament, Government and diplomatic corps accredited to the Kingdom of Cambodia reflected upon the unimaginable transformations and evolutions of the Kingdom in the latest three decades and underlined the role played as a pillar of stability by Cambodia on regional and international affairs.

We have also to highlight the clear-sighted policies enacted by the Government of Prime Minister Academician Dr. HUN SEN.

H.E. Professor Dr. Anton Caragea address to the Royal Government of Cambodia


Kingdom of Cambodia is today a beacon of democracy and a model country, in relation with the social agenda and social distribution of income, concluded his speech, Professor Dr. Anton Caragea, in the thunderous applauses of the audience.


The photo-album from the special session of the Royal Parliament can be accesed here: PRESIDENT OFFICE


Posted by Institute of International Relations and Economic Cooperation on June 27, 2016 at 6:00 AM

In the framework of the official visit to the Kingdom of Cambodia, on 22 June 2016 , the official high level meeting between Professor Dr. Anton Caragea and Academician Dr. Hun Sen-Prime Minister of Cambodia has taken place.

The shake-hand of friendship and respect: a perfect beginning to the dialogue between Professor Dr. Anton Caragea and Prime Minister of Kingdom of Cambodia Academician Dr. HUN SEN.


The dialogue was held in an amicable atmosphere and was based on an throughly assessment of the regional evolutions in Indochina and europe and was built upon the common objective of building a development agenda, focused on the fulfillment of Sustainable Development Goals as voted in December 2015 by the United Nations.

The President of Institute of International Relations and Economic Cooperation, Professor Dr. Anton Caragea, highlighted the intense development that brought Cambodia to the fore of international economic growth and also praised the country ambitious social revenues distribution agenda towards the poor and marginal communities.

Cambodia is today an example for this area of the world in economic growth and the Government led by Academician Dr. HUN SEN is an example of development and national efficiency.

H.E. Cambodia Prime Minister: Samdech Akka Moha Sena Padei Techo HUN SEN had graciously expressed his gratitude for the encouragements offered by President Anton Caragea.


Over reaching dialogue, lofty discussion between Samdech Akka Moha Sena Padei Techo Dr. HUN SEN, Prime Minister of Cambodia and President Professor Dr. Anton Caragea MA, FINS, ETA

The succesful governance of our country was based on the trust build between his team and the people of Cambodia and validated in the course of the years, by the electoral voting process, concluded Academician Dr. HUN SEN.


In relation to this trust, the Prime Minister of Cambodia officially announced, for the first time, his desire to stand for re-election at the general ballot in 2018.


IRICE President-Professor Dr. Anton Caragea wished to be the first to offer his congratulation and stated that Khmer people must proceed to the path of economic development and growth and take full advantage of the experience and trust bestow upon the government led by Academician dr. HUN SEN.


The delegation headed by H.E. Professor Dr. Anton Caragea, partakes in the discussion and exchanges of views with H.E. Academician Dr. HUN SEN-Prime Minister of Cambodia.

Only Prime Minster Samdech HUN SEN can offer to the nation the necessary guarantees for integrity and continuous development for people of Cambodia, underlined Professor Dr. Anton Caragea.

More issues were put under the limelight such as: migration crisis, the tense world political situation, the crisis in the arab world and european crisis.

On the bilateral horizon, the discussion had tabled themes like: increase in bilateral trade and exchanges and it was decided that a joint team of experts will start working on a Cambodia Development Plan for 2050.

The amicable and full of respect dialogue between H.E. Prime Minister of Cambodia -Samdech HUN SEN and H.E. Professor Dr. Anton Caragea – IRICE President had initiated a valuable exchange of ideas and experiences that will continue in to the future.

The full photo chronicle of the event can be viewed here: PRESIDENT OFFICE


Posted by Institute of International Relations and Economic Cooperation on June 13, 2016 at 7:20 AM

On the framework of the 9th Meeting of the European Tourism organization, held at the Romanian Parliament, Professor Dr. Anton Caragea MA, FINS, ETA, presented a tourism analysis and evaluation report entitled: CAMBODIA: THE LAND OF MAGIC- THE PLACE WHERE GOD`S AND KINGS BUILD THE WORLD!

The report noted the reasons for awarding WORLD BEST TOURISM DESTINATION FOR 2016 PRIZE to CAMBODIA:


• The excellent preservation of humanity landmarks such as: the Temple of Preah Vihear- the heart of ancient Indochina.

The temple outstanding history can be traced to the 9th century, when the hermitage was founded.

Today the site is particularly well preserved and is offering to the visitors an outstanding vision of grandeur, thanks to his exceptional for the quality of its architecture, which is adapted to the natural environment and the religious function of the temple, as well as for the exceptional quality of its carved stone ornamentation.


The Siem Reap province is home to the majestically and unique Angkor Archaeological Park – the residence of the Khmer’s Kings from 9th to 15th century.


Angkor Wat Temple located in Siem Reap, Cambodia.


Today this incredible humanity legacy, stretching over some 400, including forested area, Angkor Archaeological Park contains the magnificent remains of the different capitals of the Khmer Empire, from the 9th to the 15th century.

They include the famous Temple of Angkor Watt and, at Angkor Thom, the Bayon Temple with its countless sculptural decorations.

All this sites where recognized as being of world significance and registered as UNESCO World heritage monuments.

• The rich cultural and historical legacy of Cambodia is not limited to the previous presented list.

In order to fully grasp the natural potential of Cambodia natural parks and natural reservations we must look at the potential of these regions designated in 1993 Royal Decree on the Protection of Natural Areas.

Bayon Temple: one of the humanity landmarks

They are encompassing 23 protected areas, which at the time covered more than 18% of the country’s total land area.

The royal decree divides the areas into four distinct categories: natural parks (sometimes described as ‘national parks’), wildlife preserves, protected scenic view areas (sometimes described as ‘protected landscapes’) and multi-purpose areas.

Cambodia is also home to rarely and valuable Ramsar sites rated accordingly to RAMSAR CONVENTION of June 1999:


A stretch along the Mekong River approximately 37 km long and 14,600 hectares in Stung Treng Province

Boeng Chhmar and associated river system and floodplain, 28,000 hectares in Kampong Thom and Siem Reap provinces (part of a designated multiple use area)

Koh Kapik and associated islets, 12,000 hectares in Koh Kong province (part of a designated wildlife sanctuary).

The awe conquering Angkor Thom Temple- a part of humanity legacy.

• Giving tourists access to outstanding and pristine nature and the opportunity to explore nature, to contribute to ecological preservation, and the opportunity to visit extraordinary places.

All these regions and national parks are a model of achieving ecological and green tourism that must be recognized throughout the world.

New prominent landmarks are to be added to UNESCO list such as: Angkor Borei and Phnom Da, the former celebrated as the ancient capital of Kingdom of Cambodia under the name of Vyadhapura and pace at the confluence of Mekong and Stun Sla Ku. This is now home to perfect archeological treasures like sculptures and stones star shaped called stelae.

Phnom Da is famous for his caves, the mud tower and the all sought Ashram Maha Rosei, made in long standing stone and celebrated as a model of architectural ingenuity made out of interior monk housing units blending in the exterior wall.

Tonle Sap River is the former capital of Royal Cambodia in 17th century from 1740 to 1746.


Udong is now a perfect example of a sprawling royal city, but also a royal necropolis gathering the funerary temples of kings that offered to Cambodia a chance of survival in the country darkest times.

Udong is the proof of the resilience and endurance of Khmer spirit in time of peril and dangers.

The project ONES VILLAGE/ONES PRODUCT designed to promote social fair tourism, to sustain rural production and to bring about the rebirth of traditional craftsmanship created and promoted by H.E. Samdech Akka Moha Sena Padei Techo HUN SEN, Prime Minister of Cambodia , is a perfect way of sharing revenue, growing income and supporting marginal and rural communities development.

The way in which social-tourism has become the base for local economic development, for empowerment of remote community and supporting educational and vocational projects benefiting the communities, makes social-fair tourism, the lesson that today-the KINGDOM OF CAMBODIA is offering to the world.

• The ongoing development and protection of cultural, religious and historical shrines of the Kingdom of Cambodia, the transformation of Angkor Region into a historical and spiritual center, offering to the visitors a glimpse into rich culture and heritage of peoples of Cambodia.

Angkor must be the world center of religious pilgrimage and cultural tourism offering to world tourists the complex healing experience of cultural legacy, religious special atmosphere and faith imbued air.

• The preservation of outstanding historical and cultural heritage in the form of the former capital of the Kingdom of Cambodia, the Angkor cultural complex, an ample palatial complex from the 9th Century, offering an incredible sense of magnificence of one of the Asia greatest empire.

The sacred mountain of Udong-Cambodia


• Today, Cambodia offers tourists bound for the country a rich and perfect open air collection with a rare presence of historical and archaeological treasures that educate and enrich the world.

• The KINGDOM OF CAMBODIA is also a perfect center for river trips and adventure tourism, offering large areas suitable for this special kind of tourism, and the necessary infrastructure to welcome the adventure seeker, its safety and peace, makes the country, one of the world’s top adventure river destinations that make the KINGDOM OF CAMBODIA as a perfect cultural class destination.


In the speech conclusions, Professor Dr. Anton Caragea, MA,FINS, ETA proposed CAMBODIA as the winner of WORLD BEST TOURIST DESTINATION FOR 2016 and as receiver of the FAVORITE CULTURAL DESTINATION distinction for 2016.


Posted by Institute of International Relations and Economic Cooperation on June 12, 2016 at 2:05 PM

Professor Dr. Anton Caragea will deliver the opening speech on the occasion of World Tourism Assembly, to be held in Phnom Penh, and will also lead the felicitous moment of unveiling of 2016 World Tourism Awards.

In the last five years, IRICE President had the honor of leading the world tourism ceremonies, in sign of recognition and gratitude for his instrumental role in promoting Sustainable Development Goals agenda on world level, for his exertions on promoting fair and sustainable tourism and carving the concept of socially oriented and fair tourism.

This year, at the proposal of Professor Dr. Anton Caragea, the world meeting on tourism will highlight the role of culture and historical patrimony in the XXI century world.

Equally on the proposal of President Dr. Anton Caragea the concept of «Khmer Shrok» was recognized and inscribed as part of immaterial humanity cultural heritage.

Professor Dr. Anton Caragea-IRICE President presiding over European Tourism Conference-12 June 2016.


The ceremony will be held in Phonm Penh on 22 of June 2016, gathering high-level political representatives, including Heads of State and Government, and Ministers of Tourism, Finance, Foreign Affairs and Development Cooperation, as well as all relevant institutional stakeholders, non-governmental organizations and business sector entities.

The delegation headed by Professor Dr. Anton Caragea-IRICE President will also review the role and potential of the cultural and historical region of Angkor Archeological Preserve comprising 300 sq. km of invaluable architectural and religious treasures dating from the Khmer Empire time from 9th to 16th century.

The familiarization and evaluation trip, of the incredible cultural patrimony of Kingdom of Cambodia, will be centered on Province of Siem Reap, between 16 to 19 June 2016.

Professor Dr. Anton Caragea-IRICE President and H.E. Prime Minister of Federal Democratic Republic of Ethiopia-Academician Hailemariam Desalegn on the occasion of 2015 World Tourism Conference (Addis Ababa).


The delegation led by Professor Dr. Anton Caragea will have also meetings with H.E. Prime Minister of Cambodia – Samdech Akka Moha Sena Padei Techo- Academician HUN SEN, Minister of Culture-Chea Bora, Minister of Tourism- Mr. Thong Khon, , Ministers of Energy and Economy and Minister of Foreign Affairs in order to develop the bilateral relations.

The delegation will also enjoy a sophisticated cultural program including visits to Angkor Watt, Angkor Thom, boat trip on Tonle Sap, Mekong river cruise to Utong, former royal capital in XVII century and a tour of Phnom Penh surrounding areas , home to hundreds of temples of incredible cultural and historical value.

The official visit of the delegation headed by President Dr. Anton Caragea will take place from 14 to 24 June 2016.

Cambodia is enjoying today a rapid and dynamic growth, being one of the most developed countries in Indochina.

The relations between Romania – Indochina region are driven by the partnership with our country main diplomatic and political partners in the region: Cambodia and Laos PDR.

Cambodia and Laos are the most developed nations in the region, with regular high level visits and exchange of delegation and continuous political dialogue.


Posted by Institute of International Relations and Economic Cooperation on May 11, 2016 at 7:30 AM

On May 4 2016, the taking office protocol meeting, between Prof. Dr. Anton Caragea, President Director-General of Institute of International Relations and Economic Cooperation and H.E. Kim Eun-joong, Ambassador of Republic of Korea, had taken place.

President Anton Caragea and Ambassador Kim Eun Joong -South Korea


Prof. Dr. Anton Caragea, President Director-General of Institute of International Relations and Economic Cooperation and H.E. Kim Eun-joong, Ambassador of Republic of Korea.

In the beginning of the meeting Prof. Dr. Anton Caragea express his heartfelt congratulations, on the occasion of beginning of mandate of H.E. Kim Eun-joong, marking a new beginning in the bilateral strategic relation.

In his speech, Professor Dr. Anton Caragea had appreciated that Romania and Korea share a common history and tradition and a similar strategic location on world map.

Korea and Romania are also enjoying a strong and stable economic relation, an open, sustained and substantial political dialogue and a common sentiment of brotherhood.

All this are elements that could serve as a bridge of good understanding between the two nations.

The Romania-Korea strategic friendship must be an example of constructing strong relations between Romania and Pacific area.

H.E. Kim Eun-joong had expressed his appreciation for the encouragement`s offered by Prof. Dr. Anton Caragea and had stated that the vision of an economic, politic and cultural special relationship, between Romania and Korea, is an equally shared vision.

The dialogue between the Romanian and Korean officials had continued on concrete aspects and analyses of economic, political and cultural bilateral relations and on ways of fostering and enriching this dialogue on to the future.


Concrete fallow-up actions where established as: expanding cultural and educational cooperation, emphasizing parliamentary cooperation and fostering the dialogue in the political sphere.

The dialogue led the foundations of a successful diplomatic mandate and offered the solutions necessary to foster and develop the friendly relations between Romanian and Korea and constitutes a promise to continue a successful direction on Romanian diplomatic action.

Supplementary PR information can be obtained from PRESIDENT OFFICE


Posted by Institute of International Relations and Economic Cooperation on April 25, 2016 at 6:25 AM

A new promotion campaign for Romanian wines will kick-start from May 1st 2016, under the slogan: ROMANIAN NATIONAL WINE FROM HOUSE OF PANCIU!

The wine promotion campaign will take place during Spring and Summer 2016 and is destined to present to an international audience the BEST ROMANIAN WINE: HOUSE PANCIU.

The wines produced by HOUSE PANCIU will have the exclusivity, being the only ones present on all the official diplomatic venues during 2016.

The HOUSE PANCIU (CASA DE VINURI PANCIU) has received the most outstanding recognition for wine industry, in January 2016, being selected as DIPLOMATIC WINE during 2016.

HOUSE PANCIU (CASA PANCIU) is famous for using high quality national and international grapes varieties, resulting wines with a history of over two millenniums (like Feteasca Neagra).

With the onset of the promotion campaign for ROMANIAN NATIONAL WINE, ambassadors and wine tasters, from all around the world, will enjoy the brands selected and highly marked as the best wines produced in Romania.

These perfect national wines are produced by HOUSE PANCIU (CASA DE VINURI PANCIU).

The selection of wines that will be presented for the SPRING/SUMMER 2016 campaign under the slogan: THE NATIONAL ROMANIAN WINE COMES FROM HOUSE OF PANCIU- HOUSE OF WINE! will include the Ambassador wines of Romania and will be presented to diplomats, foreign journalists and importers of wine from across the world.

Among the special wines, that will be outlined for tasting, during this period, the list includes the BEST ROMANIAN WINE for 2016: FETEASCA NEAGRA (BLACK GIRL-awarded with 98 points).

This perfect wine will be a highlight of the diplomatic parties and receptions and will bring glamour to the main diplomatic events of spring and summer 2016.

The diplomatic guests will enjoy, from May 1st to October 1st 2016, the famous: Feteasca Neagra (Black Girly) from CASA PANCIU, a wine that was named THE BEST ROMANIAN RED WINE for 2014 and conquered once more the international public imagination during January 2016 wine tasting.

Romanian Wine Champions: Place no.1: FETEASCA NEAGRA(BLACK GIRL) , Place no. 2: MUSCAT OTTONEL, Place no. 3: CABERNET SAUVIGNON

Other wines, that will represent the best of what Romanian wines have to offer and produced by the HOUSE PANCIU (CASA DE VINURI PANCIU), the most significant producer from Vrancea/Moldavia region, are including the outstanding ALIGOTE, the pugnant aromatic BABEASCA, a specific Romanian grape variety, freshly bottled after ageing in 2014 (considered with 91 points).

In short: the TASTE NATIONAL ROMANIAN WINE! campaign, will present a carefully drafted list of the exceptional selection of wines from HOUSE PANCIU (CASA DE VINURI PANCIU).

These wines are having the aroma and natural character of the wines coming from Moldavian-Vrancea region.

All the wines from the list are having the international recognition of the wines of HOUSE PANCIU (CASA PANCIU), the top line of quality of Romanian wine industry.

You could also join in the program, by consuming, as a true Romanian ambassador, the wines of HOUSE PANCIU (CASA PANCIU), offering as a gift this premium wines and enjoying the BEST ROMANIAN WINE for 2016: CASA PANCIU wine.

You can order online from PANCIU HOUSE OF WINE store here:



Posted by Institute of International Relations and Economic Cooperation on April 24, 2016 at 7:10 AM

Prof. Dr. Anton Caragea, President Director-General of Institute of International Relations and Economic Cooperation (IRICE) and H.E. Hussain Taha Hassan SINJARI – Ambassador of Iraq to Romania held a round of consultation on April 19, 2016.

A handshake of friendship: Professor Dr. Anton Caragea and H.E. Ambassador Hussain Taha Hassan SINJARI


Prof. Dr. Anton Caragea express his heartily congratulation for the activities and results achieved in the last span of time, in the bilateral relation between Romania and Iraq, and highlighted the fact that: between Romanian and Iraq we can observe a large area of common interests , designed to forge a good understanding between the two nations.

The Romania- Iraqcooperation had become a model for all the countries in the region and this model must be presented as a perfect pattern of cooperation between Romania and Middle Eastern countries.

The mandate of H. E. Ambassador Hussain Taha Hassan SINJARI has proven that: Romania can have a sustained and perfect relation with the countries in the Middle East, even in this difficult political and strategic environment of today.

H.E. Hussain Taha Hassan SINJARI presented the new route plan for the embassy activity in 2016 comprising: the opening of Romania-Iraqi Commercial Chamber, bolstering the bilateral economic cooperation, enhancing political and diplomatic exchanges and express his confidence in the support offered by the Institute of International Relations and Economic Cooperation in fulfilling these tasks.

Tabled at the meeting: heavy diplomatic files: economic cooperation, medical assistance and cultural liaisons.


The most important achievement of the embassy is starting to carve out, with IRICE support, a program for medical assistance for Iraqi woonded.


The ambitious program will allow Iraqi patiants to be weel look after in high level Romanian hospitals and leisure facilities insuring them a full physic and psihological recovery.

Prof. Dr. Anton Caragea pledged his continous support in developing the medical support scheme for Iraq and stated that the vision of developing and fostering new economic, politic and cultural relations between the two nations is a shared vision.


The consultations had continued on concrete aspects and analyses of economic, political and cultural bilateral relations and on ways of fostering this dialogue on to the future.

Especially important was the common analysis of the region problems and evolutions and the shared vision in a Middle East free of terrorism, living in peace and development, a vision that drive`s Iraq and Romania towards cooperation with a mutual goal.

The regular consultations between the two officials will foster the relations between Romanian and Iraq and constitutes a model for diplomatic dialogue for all the countries.


Posted by Institute of International Relations and Economic Cooperation on March 14, 2016 at 8:50 AM

On March 11, 2016, the taking office protocol and presentation meeting between Prof. Dr. Anton Caragea, President Director General of Institute of International Relations and Economic Cooperation of Romania and H.E. Tajul Aman Mohammad, Ambassador of Malaysia in Romania had taken place.

Prof. Dr. Anton Caragea express his heart felted congratulation on the occasion of beginning of mandate of Mr. Tajul Aman Mohammad, appreciating that Romanian and Malaysia are enjoying a long and productive history of cultural, economic and political cooperation and a large area of dialogue, destined to be conducive to a good understanding between the two nations.


The Romania- Malaysia cooperation has the ability to become an example of building an economic and cultural exchange area between East Asia and Romania, remarked Professor Anton Caragea.

Now it is an auspicious moment to enliven the diplomatic dialogue and friendship between Romania and Malaysia, as we are witnessing the political and economic will for such an improvement.

H.E. Tajul Aman Mohammad remarked with satisfaction and appreciation the encouragement`s offered by Prof. Dr. Anton Caragea and had stated that: the wish and desire for an economic, politic and cultural special friendship between Malaysia and Romania is a common shared vision.

The dialogue had continued on concrete themes for economic actions such as: cooperating on tourism and trade in the framework offered by European Council on Tourism and Trade decisions, in order to promote bilateral tourism and investments related to tourism sector.


Other spheres of economic cooperation where highlighted on agricultural sector and on communication, mobile technology and other areas of high technology where Romania is having an international recognized know how.

IRICE President accepted to meet with a parliamentary delegation from Malaysia in order to promote cooperation on this level of parliamentarian and democratic institutional dialogue.

During the meeting where tabled also different aspects and analyses of economic, political and cultural bilateral relations and on ways of fostering this dialogue on to the future.

The all-encompassing dialogue created the foundations for a successful diplomatic mandate of H.E. Ambassador Tajul Aman Mohammad and created the necessary environment to foster the relations between Romanian and Malaysia and constitutes a promise for re-launching a traditional Romanian diplomatic action towards Malaysia.

The photo chronicle of the diplomatic encounter can be found here: PRESIDENT OFFICE


Posted by Institute of International Relations and Economic Cooperation on March 14, 2016 at 8:35 AM

The Institute of International Relations and Economic Cooperation start operating in Romania the WORLD LECTURES series on Sustainable Development Goals.

The President of Institute of International Relations and Economic Cooperation, Professor Dr. Anton Caragea had signed the official decision on 14 March 2016, in a public ceremony.


The Sustainable Development Goals -SDG are creating a global framework for combating world-wide poverty and insuring an inclusive and developed society on a world scale.


Considering as self evident the fact that: Education is undoubtedly the pillar for the successful implementation and the large acquiescence of the sustainable development goals (SDGs).

The Institute of International Relations and Economic Cooperation (IRICE) endeavors to use the teaching of diplomacy, international relations, economic theory, life sciences, environment, and ecology to raise global awareness and understanding of the SDGs.

Sustainable Development Goals will be the focus of a series of WORLD LECTURES, held annually in different places, regions and countries and reuniting local and global leaders, government officials, and world specialists and addressing the issues of awareness, leading by examples and promotions of sustainable development goals on a world level.

The result of this lectures on SDG wil be presented in the form of a free awarded Certificate on sustainable development goals (SDGs) entrusted to all the participants of the Lectures on SDG.

The WORLD LECTURES on Sustainable Development Goals will focus on giving participants the essential competencies, skills and multidisciplinary knowledge to become globally responsible sustainable development leaders and managers.

The central point of the series of WORLD LECTURES will be to create awareness on the sustainable development goals (SDGs) among world community members and concerned government stakeholders will improve and sustain interactions between government and the people, thereby setting a platform towards achieving the SDGs by 2030


2015 Lectures on Millennium Development Goals and United Nations Global Compact Initiative draw the attention of Romanian and International stakeholders.

Arrangements for Capacity-Building and Technology Transfer

Transfer of experts and equipment for appropriate learning through capacity building of different stakeholders such as governments, communities, private sector entities, and utilize, according to local conditions.

The effectiveness of the technology transfer will be based on capacity building and enabling environments to enable target stakeholders understanding.

The main issue to be addressed via the WORLD LECTURES on Sustainable Development Goals will be the faults on government officials training and capacity to effectively plan and implement sustainable development projects.

New technology transfer with required capacity would also be adopted to effectively create needed awareness in the minds of all identified stakeholders in response to 2030 sustainable development agenda.

Implementation methodologies

Raising awareness and promoting change-oriented communication based on the implementation of sustainable development goals (SDGs) and targets will be implemented in civil society organizations (CSOs and governmental organizations in response to the 2030 Agenda for Sustainable Development.

The annual workshop will engage multi-stakeholders in order to enlist them to contribute with their own ideas, strategies and energies, and creating a buoyant debate on sustainable issues.

This will be achieved by a large range of mediums like:

community mobilizations, CSOs/ government interactive sessions on the SGDs and their targets, media platforms on print/electronic media, capacity building for community stakeholders and government MDAs, publications, banners, flyers, t-shirts, brochures, and the creation of social network platforms, and promotional materials (manuals).


2013 Lectures on United Nations Global Compact Initiative hosted by Institute of International Relations and Economic Cooperation of Romania.

Coordination mechanisms/governance structure

The initiative is headed by Professor Dr. Anton Caragea President Director General of The Institute of International Relations and Economic Cooperation (IRICE) in coordination with the Directors in charge of communication, economic cooperation and education departments and Public and Nonprofit Administration Department.

IRICE will coordinate all awareness campaigns and programmed activities with other identified partners and stakeholders and submit report to relevant governments and institutions and partners.

Implementation of activities will be annually controlled and evaluated and will be bi-annually under revamp during a peer review meeting of partners destined to chart the way further, to identify challenges and roads forward.

The main aim of the annual Word Lectures on SDG will be to insure capacity building for community stakeholders and to create media platforms for wider public sensibilization.


Annual workshop related to sustainable development- November 2016

Cross-sector partnership project promoting international sustainable development

Media platforms established by December 2016

Enhanced community/NGOs/CSOs/government capacity for engagement and interactions.

The official website for WORLD LECTURES ON SUSTAINABLE DEVELOPMENT GOALS (SDGS) can be accesed here: 


Posted by Institute of International Relations and Economic Cooperation on February 29, 2016 at 5:35 PM

The Law on Giving in Payment is making murky waters on Romanian real estate market and is creating powerful pro and against camps every day more vocal, but unfortunately less and less based on economical date and more on sentimental reasons.

In order to address this fundamental issue: what will be the impact on commissioning law on real estate market? The Institute of International Relations and Economic Cooperation organized on 29 February 2016, the annual conference dedicated to the housing market in Romania.


In the opening remarks of the conference Prof. Dr. Anton Caragea explained the importance of real estate market:

We must comprehend the fundamental truth that : the real estate market is not dedicated to the big business sharks, to the speculators or to hit and run economic actors, but the real aim of this market must be to offer housing to those in need not profit to real estate moguls.


Or this is exactly the hitting point of the hammer of the law, the great real estate speculators, who aim at taking profit after profit, that are speculating on housing, they will be the victims, while the persons in search of house for living, for building a family, they will be in advantage.


Is normal that the prices will abruptly go down, and this is a perfect solution for the real estate market because the prices must not be dictated by speculators and riff raffs but by the real economy and this is demanding a reduction in prices by 50%.

This will exactly the outcome of the Giving in Payment Law: will bring normality on housing market.

The real image of Romanian housing market: old, shabby houses, energy deficient and costly.

On the venue of the conference where brought together: real estate agents, bankers, property experts and evaluators, brokers and real estate funds from Romania and EU and economists.

The debates started with the highlights of the latest evolution`s and drop in prices on real estate market in Romania during 2015, the most prominent bankruptcies in the real estate developers and the factor leading to a continuing devaluation of the market prices for 2016.


During last year, according to the figures presented on the conference, the average price reduction was around 15%, as a medium calculation, with highest mark for villas and houses going towards a 25% reductions, one of the most serious drop since the economic crisis hit Romania.

Despite this optimist signs of price reductions, all the experts underlined the fact that: prices are a long way to go before they reach the normal prices range.

2016 will mark new prices reductions until the real estate will register a 50% decrease from present day levels.

The tendencies on the market are putting the correct price around 200 Euro per square meter, the just price for Romanian market.

A highly interesting statistic proved that: who signed a contract last year to buy a propriety has already lost 20% of his investment.

New significant drops in prices (around 50% of present day marks) are just the tip of the iceberg and will have to continue in the next period, if there is to be a chance for the market to be stabilized and the investment in real estate to become one more time attractive and efficient.

From an initial value of 1.200/1.300 euro per build square meter, the prices have dropped by the year-end, towards 650-450 euro per constructed square meter, but are a long way to go until normal prices, requested by the market, will come back on Romanian real estate.


The real estate market will continue the downward spiral in 2016, accelerated by the economic crisis and low-income, with the greatest devaluation registered for the rural based property and on secondary or vacation house market and provincial cities where prices will decrease by 80% while the depreciation will rich figures of around 40% to 50% on premium real estate objectives in Bucharest areas.

The prices are expected to fall below 200-250 euro per constructed/ square meter in prime areas of Bucharest real estate.

The housing market prices have one direction: Down and quickly!

The drop in prices is driven by the ongoing banking crisis, the powerful economic crisis, the reduction of incomes, the shrinking in number of banking institutions available to offer real estate loans, the spike in banking interest rates, dramatic decrees in investment, drastic reduction in real income for majority of Romanians, unfavorable economic prognosis, ongoing economic crisis and also decrees in foreign investments and in revenues from Romanian working abroad etc.

To this long list of negative trends we can add the 120.000 new flats, houses and villas that will be placed on the market by the banks in the foreclosure process.

They were expected to flood the market from 2015, but their apparition was bogged down by law complication and lawsuits but eventually they will start emerge from banks portfolios on the market bringing severe corrections to the prices.

This new properties will be presented on the market with reduction`s in prices ranging from 50% to 25% percent from the initial announced price.

The banks presented list of property with starting prices ranging from 15.000 to 20.000 euro for one room flat, to 25.000 euro per two rooms flat and around 35.000 euro for three room flats.

The mansions and villas are sold at pricing ranging from 35-40.000 euro per 200 squared meter’s villas in high luxury areas and as low as 20-30.000 euro in secondary areas.

The prices for land in Bucharest area already dropped with 50% in 2014 and will furthermore decrease with 50% this year, reaching finally the 50 euro per square meter in central areas of Bucharest, a price that will allow re-emergence of developers on the market on the next years.

On the list of economic developments, on the real estate market, that are impacting downwards the prices were highlighted: a drop in population real income by 30% in 2014/2015, this had impacted drastic the number of real estate buyers, banking system is engulfed in crisis and choked by low-commercial value properties; the average real interest for real estate credit is around 20% which is making the cost of real estate credits unsustainable.

We can safely conclude that: taking a real estate loan in this period is the path towards bankruptcy and foreclosure for 90% of the clients.

Borrowing today ! Bankrupt tomorrow! was the bitter joke of the bankers, which confessed that banking system is in a vicious circle, until the prices will reach the 200 euro per square meter mark, until this moment the loan market is blocked.


2016 is presenting a market under siege with offers and with no buyers interested.

This year will enter on the market like a flood: over 50.000 hectares of prime land and a new stock of 3.000 villas and mansions in areas as: Colentina, Bucurestii Noi, Pipera, Baneasa, Damaroaia etc.

This avalanche of real estate`s will be sold on the market at prices below 50.000 euro per property and will push toward collapse the luxury real estate market.

Another interesting factor that emerged from discussion was the fact that: this year the offers are reaching 50% from the asking prices, while the norm on the market was a difference between 10 to 15% but today the gap has go down to at 50% of the initially estimated price.

Chief Economist Mihail Raceanu underlined again and again the fundamental truth that: real estate market cannot operate outside the negative climate of Romanian and EU economy.

The real estate market is intricately connected with the decrease of average wage and real income per person and the economy status.

The price per square meter, in prime real estate areas, cannot be over medium salary value by more than two times.

As in Romania the salary is around 150 euro monthly, the price per square meter cannot exceed more than 300 euro, as a matter of economic sanity.

It a clear axiom of economic sustainability, you are breaking it; you go out of business, concluded Mihail Raceanu.

The market will restart if we will reach the financial comfort zone around 200-300 euro’s per square meter.

This is the hard to swallow truth: who is not cutting rapidly the prices remains excluded from the market.


We have entered now in the eight year of the housing crisis and we have to logically be prepared for another eight year for dropping prices as normality on the market is the United States expert’s opinion.

Crisis is today economic normality!

The developers in the areas of villas and houses concluded that this area will continued to be severely hit with drastic reduction of prices during 2016.

The main reason is the fact that: economic crisis had dramatically reduced the number of interested players for buying this type of real estate, corroborating this with decreasing rental market and drastic reduction in number of companies interested to rent such large spaces for offices and the growing expenses to maintain such a property, had gone up impressively, all is worsening the perspective for this type of properties.

The new taxes and fiscal obligations are hitting hard on the owners of luxury estates and the maintenance cost are rising rapidly on gas and heating tabs.

This type of properties is the most vulnerable for banking foreclosures and sell on the market at prices below 50.000 euro such villas can help the banks to cut their losses.

During this year areas such as: Mosilor, Pipera, Baneasa, Tunari, still offer the possibility to be sold around 50.000 euro, the rest of the areas of south and east of the capital (Damaroaia, Berceni, Timpuri Noi, Colentina), are completely unfit for marketing and selling because of the inexistence of interested buyers.

The portrait of housing buyer: bankrupt and on the street!


During 2015 the same order is playing in the real estate market: you bought, you lost!

From the moment that you ink the deal, the real value of your house has gone down by 20% and will continue to dwindle.

Understanding the real estate market evident lessons is a major step: the internal market with a dwindling number of buyers and unpredictable income is blocking any major acquisitions and foreign investors are NOT coming to the market.

Nothing will change until the prices are reaching the 200 euro mark per square meter.

No investment in Romania is possible at current prices of 400-500 euro per square meter as long as similar opportunities are to be found in Austria, Hungary, Greece, Turkey or Bulgaria but at prices below 100 euro.

In this moment any buyer of Romanian properties will lose big and heavy, concluded the panel of experts present at the conference.

All the hopes are concentrating on the rapid implementation of the New Fiscal Code of Romania that will force by huge taxes and levies the owner to rapidly sale their property or face foreclosures.

Thus will bring the prices to the reality of 200 euro target of real estate market.

The Law of Giving in Payment in marking a step in the right direction towards bringing equilibrium of the real estate market and signaling that the time of housing speculators in rapidly nearing his end.