Egypt, Romania to join forces for SMEs projects

Egypt and Romania will form a working group for bilateral cooperation in the micro, SMEs field according to the Minister of Industry and Trade Tare Qabil announced.

“The group of experts will work on exchanging know-hows and technical expertise for the benefit of the two countries,” Kabil added; noting that having a developed SMEs sector will help create proper jobs for youth.

This came during Kabil’s meeting with the Romanian delegation headed by the Romanian Minister for Business Environment, Commerce and Entrepreneurship Ilan Laufer in addition to a number of the country’s businessmen who are also visiting Cairo to participate in the Egyptian-Romanian Business Forum.

The meeting discussed the efforts that the Egyptian government has been exerting to develop and bolster the micro SMEs sector referring to the new entity established to administrate SMEs projects.

Egypt and Romania will form a working group for bilateral cooperation in the micro, SMEs field according to Minister of Industry and Trade Tarek Kabil.

“The strategy included in the electoral program of the Romanian president Klaus Iohannis is prominent and Egypt can benefit from it to strengthen SMEs in Egypt,” the minister said during the meeting.

Bilateral trade amounted to $487 million during the first nine months of 2017, out of which exports valued at $107 million and imports valued at $376 million.

The most important products exchanged between the two countries are agricultural produce, furniture, construction materials, engineering tools, chemical products, fertilizers, medical industries, food industry, textile, furniture, garments, and leather.

The Romanian Minister for Business Environment, Commerce and Entrepreneurship Ilan Laufer said his government is keen on deepening the bilateral economic cooperation with Egypt during the coming period.

He also pointed out that Romania is ready to exchange technical expertise with Egypt in the SMEs sector.

“Romania is working on a project that will strengthen the partnership between the public and private sectors in the fields of infrastructure, education and services,” the Romanian minister added.