Prime Minister Mostafa Madbouli and his Romanian counterpart Nicolae Ciucă inaugurated, on Sunday 05/02/2023, the Egyptian-Romanian Business Forum, held Sunday at the General Authority for Investment and Free Zones (GAFI).

The forum witnessed the participation of 61 representatives of Egyptian and Romanian companies, along with a host of Egyptian ministers and members of the delegation accompanying the Romanian prime minister during his current visit.

Prime Minister Mostafa Madbouli delivered a speech, in which he expressed his happiness for attending the Egyptian-Romanian Business Forum, stressing Egypt's keenness to boost relations with Romania, especially in trade and investment. He said: “I thank the "Romanian-Egyptian Business Council" for the good organization of this forum, and I also extend my thanks to the officials of the General Investment Authority for hosting this event.”

Highlighting the robust historical ties between Egypt and Romania, Madbouli said the two countries adopt convergent views on many regional as well as international issues.

He noted that the economic cooperation between Egypt and Romania dates back to 2001 when the two sides inked an agreement to establish a joint business council.

Madbouli said priority areas for the government include renewable energy, green hydrogen, sustainable transportation, water management, sustainable agriculture, and de-carbonization of the oil, gas, and cement industries.

He stressed his government commitment to provide all support needed to promote mutual cooperation, voicing optimism about the forum's outcomes.

Madbouli also hailed bilateral relations between the two countries, especially at the trade and investment levels.

He pointed out that 101 Romanian companies are operating in the Egyptian tourism, industrial, and service sectors with investments worth up $104 million.

He highlighted the two countries' agreement on many political issues, noting that the first step towards promoting their economic cooperation dates back to 2001 when the two sides inked an agreement to establish a joint business council.

Madbouli urged the Romanian business community to seek more investments in Egypt, making use of the business opportunities created by the government, especially in the healthcare, industrial, and energy sectors.

Madbouli said: "Egypt applies a multi-opportunity investment strategy, offering incentives and guarantees to lure more investments," adding "Egypt is also expecting new prospects of green projects by encouraging innovative ideas to ensure sustainable use on the country's resources."

He voiced his government's interest in benefiting from the Romanian experience on that score, saying: "Egypt adopted a sustainable development strategy for 2030, which seeks to de-carbonize some industries."

Madbouli concluded his remarks by highlighting ongoing global economic challenges as well as the government plans to overcome these unprecedented challenges to achieve economic growth.

Egypt, Romania sign 3 MoUs

Prime Minister Mostafa Madbouli and his Romanian counterpart Nicolae Ciucă attended the signing ceremony of a memorandum of understanding in the technology and scientific research fields.

The MoU aims to enhance cooperation in the field of exchanging information, skills and researchers, and to support joint science and technology research activities between Egypt and Romania.

Prime Minister Mostafa Madbouli and his Romanian counterpart Nicolae Ciucă attended the signing ceremony of a memorandum of understanding on boosting joint cooperation in the youth activities field.

The MoU will boost the exchange of visits program for distinguished pioneers in the fields of scientific, environmental and cultural activities as well as in music, choir and folk art.

Also, a friendship week will be organized to strengthen bonds of friendship between the youth of the two countries, develop their cultural and artistic skills, encourage innovation and creativity, and set up youth camps for the distinguished volunteers in environmental service from both sides.

Prime Minister Mostafa Madbouli and his Romanian counterpart Nicolae Ciucă attended the signing ceremony of a memorandum of understanding on gas transportation between the two countries.

The MoU was inked by the Egyptian Natural Gas Holding Co. (EGAS) and Romania's state-owned Transgaz firm on the sidelines of the Egyptian-Romanian Business Forum.

It aims to deepen cooperation between Egypt and Romania in projects to develop the infrastructure for transporting natural gas, as well as to exchange knowledge, skills and technical expertise.
The memorandum of understanding also offers an opportunity to forge partnerships between the two parties in projects aimed at diversifying gas supply and transport methods and enhancing energy security, to facilitate the transition to a low-carbon energy system by integrating renewable sources into the energy mix of the two countries.