Egypt, Romania ink 4 MoUs for joint economic cooperation

CAIRO – 28 July 2017: The Minister of Investment Sahar Nasr signed four memoranda of understandings (MoU) and protocols with Romania for joint economic cooperation Friday.

The minister noted that the MoUs were in the fields of agriculture, small and medium enterprises (SMEs), irrigation and water resources, and business entrepreneurship.

Additionally, there is another cooperation MoU between the Romanian Port of Constanta and the Alexandria Port Authority, the statement said.

During the second session of the Egyptian-Romanian Joint Committee for Economic, Scientific and Technical Cooperation, Nasr stressed the importance of the Egyptian-Romanian relationship, highlighting the possibility of establishing a number of Romanian projects in the Suez Canal Axis Development Project.

Egypt is looking to increase Romanian investments, where the current volume amounts to $88.32 million in 60 companies, distributed over several fields, including tourism, industry, services, information technology, building, agriculture and banking, the minister said.

She noted that Egyptian investments in Romania have reached $100 million, as an unofficial statistics.

The ministry expressed its full readiness to set up a joint industrial project, where Romania owns a unique industrial base and has wide experience in the various fields.