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Al-Ahram Weekly 25 - 31 May 2000 Issue No. 483 
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Published in Cairo by AL-AHRAM established in 1875 |
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Al-Ahram Weekly 25 - 31 May 2000 Issue No. 483
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| Published in Cairo by AL-AHRAM established in 1875 |
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Egypt Region International Economy Opinion Culture Focus Features Travel Living Sports Profile People Time Out Chronicles Cartoons Letters More than drugs
By Shaimaa LabibTHREE years ago, reports Shaimaa Labib, the governments of Egypt and Romania began a series of initiatives to revive bilateral economic ties. "There has been a lot of progress over the past few years," said Doru Costea, the Romanian ambassador in Cairo.
Over the past three years Egyptian exports to Romania have doubled, reaching $30 million in 1999. Although this is only a fraction of the $150 million value of Romanian exports to Egypt in the same year "it represents an improvement" said Costea.
Egyptian exports to Romania consist mainly of rice and pharmaceuticals. Romania is the second largest importer of Egyptian drugs. Romanian exports include cement, heavy machinery and petrochemicals.
"Efforts are being made to improve Egyptian exports to Romania through the organisation of business missions to and from both countries to enable Egyptian and Romanian businessmen to meet and discuss possible business opportunities," Costea said.
Reinforcing the work of delegations, the Romanian Embassy sponsors several bilateral institutions that aim at promoting trade between the two countries, including the Cairo-based Romanian Bilateral Trade Office and the Romanian Chamber of Commerce and two Romanian trade offices, one in Cairo, the second in Alexandria. But there is still no official business association linking Egyptian and Romanian businessmen.
"We are currently studying the possibility of forming such an association," said Dumitru Badica, minister counsellor for economic and commercial affairs at the Romanian Embassy in Cairo.
According to Badica "many Romanian companies are interested in Egypt due to its favorable investment climate," particularly in the iron production, technology, agricultural textile and heavy machinery industries.
