Four memoranda were signed on Wednesday at a meeting of the Romanian-Egyptian Joint Economic Committee, as well as two other contracts between electricity and gas companies, according to Economy Minister Stefan-Radu Oprea.

„Today, the fourth edition of the Romanian-Egyptian Joint Economic Committee took place. A lot of debated subjects. We have a very clear action plan, how to develop trade relations together. Today they are at a level of over 1 USD billion, balanced, USD 586 million dollars worth of exports, and USD 520 million worth of imports, but the possibilities are very high. We identified them together. We already signed four memoranda between electricity and gas companies, two other contracts. We set out to open markets. We intended, together with the Minister of Agriculture, with Minister of Planning, Economic Development and International Cooperation Rania A. Al-Mashat, to open, for example, the poultry market in Egypt or the market for live animals, to increase the exports of agricultural products, to renew the success story of the Romanian tractor U 650 on the Egyptian market. Irum today is the continuation of that tradition and we would like to see it more present,” Oprea told a news conference.

He also talked about the need to create a monitoring committee to facilitate achievements.

„Energy, green energies, hydrogen, artificial intelligence, cooperation between small and medium-sized enterprises, transport, all these areas have been touched today. We decided together, it was His Excellency’s idea, to have in time between the meetings of the joint commissions, the previous one being in 2019, a monitoring committee that would work so that all the targets we set ourselves would be much easier to achieve and facilitate dialogue (…). Their position should be expressed by us, as ministers of trade, to be able to express it in Brussels, so that cooperation between us is much easier.”

According to the minister, other possibilities of cooperation, mutual support in international bodies were identified, so that the partnership is a real one.

The fourth session of the Romanian-Egyptian Joint Committee on Economic Cooperation took place on October 7-9, 2024. The year 2024 marks 118 years of diplomatic ties between Romania and Egypt. In 2023, the total value of trade between the two countries was standing at USD 1.1 billion.

AGERPRES