Al Mashat, Romanian Minister of Entrepreneurship discuss bilateral relations, entrepreneurship, trade

Rania Al-Mashat, Minister of International Cooperation, and Stefan Radu Oprea, Romania's Minister of Economy, Entrepreneurship, and Tourism, met on Thursday to discuss ways to bolster the long-standing economic relations between their countries, particularly in light of recent regional and international economic developments that necessitate collaborative efforts.

The two ministers co-chaired the fourth session of the Egyptian-Romanian Joint Committee for Economic, Scientific, and Technical Cooperation in Bucharest, the first since 2019.

A key focus of the meeting was on entrepreneurship, with Al-Mashat introducing Egypt's new Entrepreneurship Taskforce, aimed at supporting startups and creating a favorable business environment for this dynamic sector.

She also emphasized investment opportunities for Romanian companies in Egypt, particularly in renewable energy and green hydrogen, stating the Suez Canal Economic Zone is a vital investment base for companies seeking to expand in the Middle East and Africa.

Oprea emphasized the significance of the Joint Committee as a crucial platform for fostering deeper cooperation between the two nations.

Al-Mashat also highlighted the importance of strengthening ties, stating that the Joint Committee is a vital mechanism for advancing our partnership at various levels.

The discussions also addressed cooperation under the Carbon Border Adjustment Mechanism (CBAM) to promote green transition efforts and reduce emissions.

Following the bilateral discussions, the Joint Committee convened with representatives from both countries’ ministries and agencies.

Key topics included investment, trade, small and medium-sized enterprises, agriculture, energy, and telecommunications, reflecting a comprehensive agenda aimed at expanding cooperation.

During the meeting, six cooperation agreements were signed, including a Memorandum of Understanding (MoU) on investment between the General Authority for Investment and Free Zones and the Romanian Agency for Investment and Foreign Trade, and an executive action plan for agricultural collaboration. Additional agreements focused on gas distribution infrastructure and manufacturing in the oil and gas sector.