Romanian President Ion Iliescu said here Sunday that bilateral trade between his country and Shanghai progressed well in the last three years and the two sides share great potential in economic cooperation.

Iliescu made the remarks at a luncheon for nearly 100 entrepreneurs from China and Romania. He noted Romania strived to attract foreign investment in recent years and Romanian entrepreneurs are increasingly interested in doing business with their counterparts in Shanghai.

Wu Chenglin, chairman of the China Council for the Promotion of International Trade Shanghai Sub-council said at the occasion that entrepreneurs from the two sides have had more and more contacts and exchanges.

Shanghai's imports from Romania amounted to 16.69 million US dollars its exports, 22.20 million US dollars, up 250 percent and 1000 percent year on year respectively, Wu said.

Some Shanghai enterprises have formulated strategies to invest in Romania, Wu added.

Iliescu left Shanghai Sunday afternoon for Hongkong.

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