Minister of Planning, Economic Development and International Cooperation Launches the Egyptian-Romanian Business Forum in Bucharest with the participation of 130 private sector companies

H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development and International Cooperation, launched the Egyptian-Romanian Business Forum in Bucharest, with the participation of representatives of about 130 Egyptian and Romanian companies in the fields of foreign trade, communications and information technology, tourism, industry, food and beverages, construction, consulting and marketing, health, services, agriculture, and other priority areas. This comes within the activities of the fourth session of the Egyptian-Romanian Joint Committee, where Al-Mashat chaired the Egyptian side of the committee.

At the outset, Al-Mashat emphasized the depth of the dynamic and long-term partnership between Egypt and Romania, noting the economic cooperation between the two countries in key sectors, such as: trade, investment, electricity, energy, agriculture, tourism, communications and information technology, and the importance of studying ways and mechanisms to enhance the volume of trade exchange between the two countries.

The Minister added that Romania’s accession to the European Union on January 1, 2007, has contributed to strengthening bilateral relations between the two countries consistent with the growing level of relations between Egypt and the European Union, as Egyptian-Romanian relations have diversified on a wider scale, and the scope of issues of mutual interest linking the two sides has increased, stressing the Egyptian government’s aspiration to enhance cooperation with Romania in all fields, and encourage joint investment in sectors with a competitive advantage in both Egypt and Romania. This is especially the case during this period given the Egyptian-European cooperation, which was demonstrated by upgrading of relations to a strategic partnership and signing a European package worth € 7.4 billion to support the Egyptian economy last March.

The Minister of Planning, Economic Development and International Cooperation further referred to the historical relations between the two countries, especially in light of the government’s measures to encourage investment, attract the private sector, and launch financial, tax and investment incentives, in addition to continuing to develop the Suez Canal Economic Zone, which is considered an important regional center for investments from various countries of the world, and a platform for the expansion of companies in the Middle East and Africa.

Al-Mashat pointed out cooperation in the field of energy in its various forms, in light of the two sides’ keenness to diversify and secure energy sources, especially in recent global circumstances that imposed international challenges.

H.E. Dr. Rania A. Al-Mashat affirmed that the new Egyptian government strategy focuses on investment, empowering the private sector, and building a competitive economy capable of attracting investments, as well as focusing on governance and raising the efficiency of investment spending, as part of the government’s efforts to make way for the private sector.

The Minister of Planning, Economic Development and International Cooperation highlighted the importance of the business forum that brings together representatives of Romanian and Egyptian companies, to learn about the investment opportunities available in both countries, as well as the advantages of investing in Egypt, to attract more Romanian investments to Egypt in order to ensure the opportunity for the private sector to play its assigned role in the implementation of the state’s development plan and access to promising markets.

Moreover, the Minister also added that Egypt’s presence as part of the African trade agreement may provide Romanian companies with opportunities to invest in Africa and enter the African market through this partnership. The Egyptian business sector can also invest in the European continent, which means that there are more possible opportunities that can be explored to strengthen relations with Romania. She also pointed out that Egypt launched the Hub for Advisory, Finance and Investment for Enterprises to strengthen partnerships with private sector companies. This portal aims to connect development partners with private sector institutions in various industries, and ensure access to financial and technical support.

The Minister of Planning, Economic Development and International Cooperation invited various Romanian companies to participate in the fifth session of the Joint Committee in Cairo, to learn more about investment opportunities, and to strengthen partnership with the Egyptian private sector.

Distributed by APO Group on behalf of Ministry of Planning and Economic Development – Egypt.