The Ministry of Finance and the Bucharest Stock Exchange join a project to integrate regional capital markets

The Ministry of Finance and the Bucharest Stock Exchange (BVB) are participating in a project to integrate capital markets in the region, with a Memorandum of Understanding set to be signed early next week by a ministry representative, according to information released by the MoF.

The Ministry's Communication Service stated: "The partnership consists of supporting a regional initiative for the integration of capital markets in Central and South-Eastern Europe, launched by the Ministry of Finance of the Republic of Croatia with the support of the EBRD. This initiative was discussed during a high-level meeting held on May 14, 2025, in London, on the sidelines of the 34th Annual Meeting of the EBRD.”

According to the Ministry, the main objectives of the initiative are:

1.Creating a common framework for cooperation among regional countries for the development and integration of capital markets;

2.Strengthening the liquidity and attractiveness of regional markets;

3.Facilitating access to financing, especially for SMEs;

4.Attracting international investors and promoting multiple listings;

5.Establishing a coordinated network of stock exchanges that are technically interconnected but function as independent markets;

6.Sending a clear political signal about the commitment of regional countries to developing capital markets.

"This partnership also entails continued dialogue between public authorities, stock exchanges, and international financial institutions in order to achieve common strategic objectives,” the Ministry added.

The institution also noted that, although the Memorandum of Understanding will be signed between the finance ministries of the participating states, the initiative is directly relevant to the region's stock exchanges, which will play a technical and operational role in its implementation.

The countries involved in the signing are: Romania, Bulgaria, Croatia, Hungary, Poland, Slovakia, Slovenia, and North Macedonia.

"The Romanian Ministry of Finance plays a political representation role and promotes regional cooperation, particularly regarding regulatory harmonization, support for technical integration, and facilitating companies' access to financing. Romania supports this initiative as part of its efforts to strengthen the capital market and attract private capital,” the MoF stated.

According to the Ministry, the signing of the Memorandum is scheduled for August 25, 2025, in Zagreb, and will be carried out either by the Minister of Finance, Alexandru Nazare, or by a designated representative of the Ministry.

In November last year, representatives of the Bucharest Stock Exchange signed a Memorandum of Understanding regarding the capital markets integration project in Central and South-Eastern Europe, the MoF further noted.

Across Europe, there are several cases of cooperation and integration between capital markets. Two of the most relevant examples are Nasdaq Nordics, which operates exchanges in the Nordic and Baltic countries, and Euronext, a pan-European operator integrating seven major exchanges on the continent, including those in Paris, Amsterdam, and Milan.

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