Changing environmental standards will be some of the most important challenges to confront Romanian companies which, however, will profit as a result of the country’s accession to the EU and the implicit possibility to expand to new markets, according to a debate titled „Romania after EU accession: accomplishments and challenges”, organized by KPMG Romania.

The debate showed that because Romania obtained EU membership starting January 1, 2007, no Romanian company is able to function without an environmental authorization and without falling in line with specific norms on pollution.

These will be real challenges for Romanian firms as governmental, NGO and media interest in environmental issues is increasing steadily at international level, says Victor Kevehazi, Senior Partner KPMG Romania.

According to KPMG Romania analysts, new ruls on corporate governance will also have major implications on the Romanian business environment and local companies must adapt quickly.

Although new laws were introduced in December 2006, only a few societies understood the complexity and size of the necessary changes and even less have started to apply them, says Daniela nemoianu, Advisory Partner KPMG Romania.

But they insisted that the EU accession creates new openings for Romanian companies which now have a chance to expand on new markets.