Dr. Ahmed Al-Sukari, Vice Chairman of the Egyptian-Romanian Business Council said that the council aims to increase Egyptian investments to Romania to reach about $ 5 billion over the next five years, while it has declined by 70% during the current period. Alsukari added that, the council will discuss removing any export obstacles between the two countries during the Egyptian-Romanian Business Forum and the joint ministerial committee between the two countries, to be held July 28 in the Romanian capital Bucharest. The council seeks to attract Romanian investors to invest in the Egyptian market, Backed by a new investment law that provides facilities to investors.
What about the meeting of the joint business committee between Egypt and Romania?
The Egyptian-Romanian Joint Committee of Ministers will be held in Bucharest in the presence of Dr. Sahar Nasr, Minister of Investment and International Cooperation, Egypt’s Ambassador to Romania and members of the Business Council. The Egyptian-Romanian Business Forum will also be held during the Investment Minister’s visit to Bucharest.
What about the Egyptian and Romanian delegations participating in the Business Forum?
The Egyptian-Romanian Business Council will meet with members of the Chamber of Commerce in Bucharest during the forum. The Egyptian delegation consists of 8 companies, including various sectors ; fertilisers, contracting, agriculture and medicine. The Romanian side also informed us of the participation of 12 companies from Bucharest Chamber of Commerce in various fields.
What is the main objective of the Egyptian-Romanian Business Council at this period of time?
The aim of the Egyptian-Romanian Business Council is to increase Egyptian exports to Romania, particularly after a decline of about 70%. The Council also seeks to attract Romanian investors to invest in the Egyptian market backed up by the new investment law which guarantees more facilities to investors.
Will you sign any memorandums of understanding during the Joint Committee meeting?
It is expected that six memorandums of understanding will be signed during the meeting of the joint committee in the fields of small and medium enterprises, investment, water resources, irrigation and agriculture, in addition to the fields of gas and oil, as well as an agreement between the ports of Alexandria and Woconstiz and an agreement between Egyptian-Romanian chambers of commerce.
What about the trade volume exchange between Egypt and Romania?
Trade volume between Egypt and Romania amounts to an average of 600 million dollars in 2016, which is a sluggish volume and does not reflect the strong relations between the two countries.
How much is the value of Egyptian exports to Romania?
Egypt’s exports to Romania amount to a half billion dollars and are expected to reach 5 billion dollars over the next five years. The number of Romanian companies in Egypt is about 1500 Romanian companies working in gas, petrol, electricity, Agriculture, information technology, building materials, transportation, energy, car manufacturing, petrochemicals, chemicals, medicines and tourism.
What about Romania’s industries that Egypt can benefit from?
Romania is the best European country in the field of agricultural tractors; which was difficult to import during the last period, and Egyptian farmers have long been fond of these tractors and testify to their efficiency over the long run.
Along with Hungary and some Eastern European countries, Romania is the best country to manufacture agricultural tractors in the world.
What about railway spare parts and fertilizers cooperation?
It is not the first time that the two sides strike a deal in railway spare parts. Romania will recommence exportation once more after an interruption of nearly 20 years.
On the other hand, currently there is cooperation between Egypt and Romania in the fertilisers and phosphate industries, and it is worth noting that Egyptian fertilisers and phosphates enjoy high demand in European markets.