Egypt, Romania discuss boosting economic, trade relations

CAIRO – 20 March 2018: Trade Minister Tarek Kabil discussed with his Romanian counterpart boosting cooperation between Egypt and Romania in all areas, especially in tourism, economic and commercial fields, a statement from the Trade Ministry said Tuesday.

Kabil said that Egypt seeks to benefit from the Romania’s experience in the agriculture field and to have Romania as a strategic partner in supplying wheat to Egypt, as the country imports more than one million tons of wheat annually from the European country.

Kabil met with Romania’s Minister for Business Environment, Commerce and Entrepreneurship Stefan-Radu OPREA in Brussels on the sidelines of the 10th Union for the Mediterranean Trade Ministerial Conference.

The minister stressed on the need to capitalize on the results of the joint economic committee’s meeting that took place in July in Romania’s capital Bucharest and resulted in the signing of five memoranda of understanding in the fields on agriculture, water resources and small- and medium-sized enterprises.

Kabil also stressed on the importance of enhancing trade ties between both countries, saying that trade exchange between the two sides stood at $617 million from January to November 2017.

Egypt’s exports to Romania increased to $124.3 million in the same period, up from $100.2 million in 2016, Kabil said, adding that Egypt’s most important exports to the European country include fertilizers, medications, cables, fruits, vegetables and plastic.

Kabil further said that Egypt is keen on increasing Romanian investments in Egypt, which currently stands at $18.3 million represented in 60 projects in the industry, services and information technology sectors.

Kabil stressed on the importance of operating a direct flights service between Egypt and Romania this year, to help boost tourism between both states.

On his part, the Romanian minister said that his country is keen on boosting economic and political relations with Egypt, saying that a Romanian trade delegation will visit Egypt in the next couple of months to know about Egyptian products.