26 September 2018 03:12 AM

Economic Relations

Thursday، 12 November 2015 12:00 AM

The trade volume between Egypt and Romania mounted to about $350 million annually, 90 millions of which are Egyptian exports, whereas 260 millions are imports to Egypt.

The most important Egyptian exports in the past years were mainly oil and its products, rice, fresh and frozen fish, medicines and pharmaceuticals, Portland Cement, textiles, fruits and vegetables.

Egyptian imports from Romania during the same period were mainly wood, chemical products, means of transport (railway carriages' parts – agricultural tractors – buses) and metals, especially iron and steel.

Egypt and Romania are linked with a number of bilateral agreements in the economic and commercial fields:

  1. An Additional Protocol to the Agreement on Encouragement and Protection of Mutual Investments, signed on February 21, 2007, within the context of updating the protocol signed between the two countries on November 24, 1994.
  2. An Agreement on Economic, Scientific and Technical Cooperation between Egypt and Romania signed on February 21, 2007 (entered into force as of 2/6/2008).
  3. An Agreement between the General Authority for Investment and Free Zones and the Romanian National Authority for Foreign Investment on cooperation in the field of direct foreign investment signed on February 21, 2007.
  4. Memorandum of Understanding between the Chamber of Commerce and Industry in Bucharest and Chamber of Commerce in Alexandria, signed on February 20, 2007.
  5. Cooperation Agreement between the Romanian Union of Industries and its Egyptian counterpart, signed on October 25, 2007.
  6. Cooperation Agreement between the Romanian Union of Industries and the Egyptian Businessmen Association signed on October 23, 2007.

Egyptian Investments in Romania

  • The total value of Egyptian investments in Romania since 1990 until the end of 2009 reached 29.13 million dollars, a large number of medium and small Egyptian companies contribute to these investments. It is noteworthy that the number of Egyptian companies registered in Romania is 1232.
  • The value of Romanian Investments in Egypt during the same period was about 87.445 million dollars.

Bilateral investments

The total Egyptian investments in Romania reached in 2009 approximately 29.13 Million Dollars. A large number of small and medium sized Egyptian companies contributed to this figure, noting that the number of Egyptian companies registered in Romania was 1232.
The Romanian investments in Egypt, during the same period, stood at approximately 445.87 Million Dollars.

Contractual Framework

  1. Agreement on Air Transport, signed in Cairo on 14/8/1998.
  2. Agreement on Cooperation in the fields of Education, Science, Culture, Technology, Arts, Media, Management and Administration, Youth and Sports, signed in Cairo on 24/6/1996.
  3. Agreement on Avoiding Double Taxation, signed in Bucharest on 07/13/1979.
  4. Agreement on Trade, signed in Cairo on 20/5/1995.
  5. Agreement on Scientific and Technological Cooperation, signed in Bucharest on 23/4/1994.
  6. Health Agreement on Medical Sciences signed in Cairo on 13/11/1995.
  7. Agreement on Cooperation in the field of Tourism signed on 2/9/1992.
  8. Agreement on Establishing a Joint Committee on Relations and Cooperation, signed in Bucharest on 24/11/1994.
  9. Agreement on Promotion and Guaranteed Protection of investments, signed in Bucharest on 24/11/1994.
  10. Agreement on Economic and Technical Cooperation, signed in Bucharest on 24/11/1994.
  11. Agreement on Navigation and Maritime Transport, signed in Cairo on 06/04/1972.
  12. Agreement on Veterinary Health, signed in Cairo on 6/4/1972 (it was suspended as of 09/11/2008)
  13. Protocol on Cooperation in the field of Labour and Social Protection, signed in 13/11/1995.
  14. Protocol on Cooperation between both Foreign Ministries, signed in Cairo on 13/11/1995.
  15. Protocol on Cooperation in the field of Combating Illicit Trafficking and Abusing the Use of Narcotic Drugs, signed in Cairo on 24/1/1993.
  16. Protocol on Technical Cooperation in the field of Public Works and Water Resources between Ministry of Public Works in Egypt and the Ministry of Public Works and Regional Planning in Romania, signed in Cairo on 17/5/1994.
  17. Memorandum of Understanding on Encouraging and Developing Economic Cooperation in the Free Zones, signed on 7/6/2000.
  18. Memorandum of Understanding on Supporting Cooperation between the Ports of Alexandria and Constansa, signed in Cairo in February 2004.
  19. Memorandum of Understanding on Supporting the Egyptian and Romanian companies willing to enter into industrial projects in both Egypt or Romania, or a third country.
  20. Cooperation Agreement on Combating Crime, signed in Bucharest on 3/12/2003.
  21. Memorandum of Understanding on Developing Cooperation with Egypt in the field of Agricultural Tractors, signed in Bucharest on 3/12/2003.
  22. Protocol on the Establishment of the Egyptian-Romanian Business Council, signed in Bucharest on 3/12/2003.
  23. The Executive Protocol on the Joint Activities between the two Fair Authorities, signed in Bucharest on 3/12/2003.
  24. Protocol on Cooperation between the Holding Company for Pharmaceuticals and the Romanian Governmental Company "Antibiotice", signed in Bucharest on 3/12/2003.
  25. Agreement on Cooperation in the field of Agriculture and Food Industries between the Ministry of Agriculture and Land Reclamation in Egypt and the Ministry of Agriculture and Forestry in Romania, signed in June 2001.
  26. Memorandum of Understanding between the Egyptian Ministry of State for Military Production and the Romanian Ministry of Industry and Resources on Cooperation in the field of Heavy Industries, signed in June 2001.
  27. Agreement on Mutual Legal Assistance on Civil and Criminal Articles and Transferring those sentenced to long imprisonment, signed on 12/5/2000.
  28. A Proposed Protocol on Cooperation between the two Institutes of Diplomatic Studies affiliate to the Foreign Ministries.
  29. An Agreement on Cooperation between the Romanian Chamber of Commerce and Industry and the Union of Egyptian Chambers of Commerce and Industry and Egyptian Businessmen Associations (1994).
  30. Agreement on Cooperation between the Romanian Fairs Authority (Rom Expo) and the Egyptian-Romanian Chamber of Commerce (1997).
  31. Agreement on Cooperation between the Romanian Businessmen's Association and the Union of Egyptian Industries, signed in 27/3/2000.
  32. Agreement on Cooperation between the Romanian Fairs Authority (Rom Expo) and the General Authority for International Fairs, signed on 10/9/2000.
  33. Agreement on Cooperation between the Egyptian Centre for Exports and the Romanian Centre for Foreign Trade, signed in September 2000.
  34. Agreement on the Establishment of the Egyptian-Romanian Business Council, signed on 29/3/2001.
  35. Agreement between the Romanian Export-Import Bank and the Authority for Guaranteeing Egyptian Exports, signed in March 1997.
  36. Agreement on Cooperation between the Chamber of Industry and Commerce in Alexandria and the Romanian Chamber of Commerce and Industry, signed in March 1996.
  37. The Convention on the Establishment of the Joint Egyptian-Romanian Chamber of Commerce, signed in November 1994.
  38. Agreement on Cooperation between the Romanian Foreign Trade Centre and the Centre for Promoting Egyptian Exports, signed in June 1997.

 

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