Dr. Rania Al-Mashat: We look forward the convening of the new session of the Egyptian-Bulgarian Joint Committee for Economic, Scientific and Technical Cooperation during the current year

During the Egyptian-Bulgarian Business Forum

 

Dr. Rania Al-Mashat: We look forward the convening of the new session of the Egyptian-Bulgarian Joint Committee for Economic, Scientific and Technical Cooperation during the current year

 

H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, participated in the Egyptian-Bulgarian Business Forum, held by the Federation of Egyptian Chambers of Commerce (FEDCOC), in the presence of Lieutenant General Engineer Kamel El-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport; Mr. Georg Georgiev, Minister of Foreign Affairs of Bulgaria; Dr. Sherif Farouk, Minister of Supply and Internal Trade; Mr. Ahmed El-Wakil, President of the Federation of Egyptian Chambers of Commerce and the Union of Mediterranean Chambers; and Dr. Veselin Todorov, President of the Bulgarian Federation of Chambers.

 

In a recorded speech, H.E. Dr. Rania Al-Mashat stated that the forum is an extremely important platform bringing together the leaders of Egypt and Bulgaria to share a unified vision towards strengthening economic cooperation and opening new avenues of partnership and integration between the two countries.

 

Al-Mashat emphasized that trade relations between Egypt and Bulgaria have witnessed remarkable development in recent years, with the volume of trade exchange increasing from $81.3 million in 2019 to more than $234 million in 2023, which reflects the strength of the economic partnership between the two countries and is a promising indicator of growing commercial relations.

 

H.E. added that the tourism sector is considered one of the main pillars of joint cooperation. In 2022, Egypt received around 41,000 Bulgarian tourists who spent nearly 290,000 tourist nights, and in 2024, the numbers leaped significantly as the number of Bulgarian tourists exceeded 177,000, and the number of tourist nights reached approximately 298,000 nights, which reflects the growing closeness between the two peoples and affirms Egypt's attractiveness as a distinguished tourist destination.

 

H.E. welcomed the strong and diverse presence of companies operating in a range of vital sectors, including: investment, food industries, energy, construction, agriculture, natural gas, technology, food, industry, trade, and manufacturing, explaining that these sectors represent key drivers for future cooperation and genuine opportunities to achieve shared prosperity.

 

During her speech, the minister pointed out that work is currently underway to prepare for the convening of the second session of the Egyptian-Bulgarian Joint Committee for Economic, Scientific and Technical Cooperation, which is expected to be held in Cairo this year, for the first time since February 2019, explaining that this committee represents a pivotal mechanism to enhance bilateral cooperation, through which we aim to sign a number of documents and agreements with the Bulgarian side across multiple fields that serve the mutual interests of the two countries. The committee is co-chaired by the Minister of Planning, Economic Development and International Cooperation and the Bulgarian Minister of Foreign Affairs.

 

H.E. Dr. Rania Al-Mashat also highlighted Bulgaria’s active role as a key member of "Team Europe", a major initiative by the European Union (EU) that aims to achieve coordination and integration in external cooperation and development investment efforts among EU institutions and its member states, including development agencies, public financial institutions, and the European Investment Bank (EIB), clarifying that “Team Europe” in Egypt plays a pivotal role in supporting sustainable development, enhancing economic resilience, accelerating green transformation, and empowering the private sector.

 

H.E. further noted that within the framework of the strategic and comprehensive partnership recently announced between Egypt and the European Union, €1.8 billion in EU investment guarantees have been allocated to Egypt under the European Fund for Sustainable Development Plus (EFSD+) mechanism. These guarantees are expected to contribute to mobilizing additional funding from European and international financing institutions, thereby enhancing the investment environment in Egypt and opening new avenues for the private sector.

 

At the conclusion of her speech, Al-Mashat affirmed that the forum represents a unique opportunity to build lasting partnerships, explore untapped areas, and align the economic visions of the two countries to build a better future.