RESPONSIBLE ENTREPRENEURSHIP VISION DEVELOPMENT AND ETHICS

The history of Turkish industry in Romania, and key milestones in its socio-economic… 449
Research domains: Business and International Business, European Studies, Political Science
and Government, Sociology.
Databases: Business Source Complete, Emerald Insight, Europa World of Learning,
FRANCIS (International Humanities and Social Sciences), National Bureau of Economic
Research (NBER) Working Papers, OECD library, Social Explorer, Web of Science (Thomson
Reuters Web of Knowledge), Wiley Online Library, World Development Indicators (WDI).
Content type: Peer reviewed journal /e-journal articles.
Content language: English.
Turkish integration into Romanian business society and culture
After briefly outlining the historical introduction of Turkish presence in Romania, it is
clear how the emergence of business trading from Turkey in this country has its roots in political
power struggles. However, in order to fully appreciate the journey Turkish businesses
have undergone in their integration into Romanian society, it is important to address several
key moments in Romania’s modern challenges that shed light on the remits of such a long
standing inter-cultural partnership. During the early 1960s, Romania’s foreign policy on importations
and cross-border trading became evermore isolated from the dictatorships of the USSR.
Towards the start of the 1970s, Romania conceived diplomatic agreements with West Germany
and political alliances with Turkey, and also cultivated civilized connections with Israel
in the aftermath of the Arab-Israeli War in 1967, while other East European communist nations
terminated diplomatic bonds. As Romania did not participate in the invasion of Czechoslovakia
(1969), this set the tone for the country being appraised as a peaceful nation with a
more intrinsic demeanour to strengthen its own economy through mutual relationships. There
was much compromising in Romania during the ambitious industrialisation of the 1970s, which
was evident in several sectors losing priority in government spending and subsidised grants
for workers such as in agricultural farms. This consequently opened the doors to foreign
involvement in boosting Romania’s economy, which helped the gradual introduction of Turkish
trading through the importation of raw resources and goods for weakened sectors (Gilberg,
1990). However, Romania’s national debt increased dramatically due in part to the significant
investment in the petrochemical industry markets, which provoked the austerity program
to reduce government spending as a method of saving money in sectors such as food and
beverage, utilities, and consumer goods in 1981. From the 1990s until the early 2000s, Romania’s
economy fell behind, an unfortunate period marked by challenges to ascend into a market-based
economy, consequently raising the merits for foreign investment and trade support
from Turkish businesses. The escalations in product prices and reduction in food supply
resulted in civil unrest across the nation, which was worsened by the barring of mines for
non-renewable resources and precious metals. This consequently led to widespread public
worker strikes and protestor campaigns organised by miners. Privatisation of state-controlled
markets continued discreetly, while Romanian native citizens were blind folded from the value
of the shares they invested in with their hard earned savings. It is clear from these key challenges
experienced in Romania that economical support from Turkey would be inevitably
encouraged, which supports the notion that the degree of needed help far exceeded the intercultural
conflicts between Turkey and Romania due to any religious based ethical differences
in how businesses should converse. Having said that, it is necessary to address the dynam-