Commodity Exchange between Bulgaria and Egypt holds much greater potential

“11-year intervals for holding sessions of the Bulgarian-Egyptian Joint Intergovernmental Committee are unduly long. I believe that the Joint Committee for Economic Cooperation is an important platform and instrument for developing and expanding the cooperation between Bulgaria and Egypt in any field.” This is what the Bulgarian Minister of Agriculture, Food and Forestry, Rumen Porodzanov said at the First session of the Committee held in Sofia. He is the Co-chairman of the Committee from the Bulgarian side.

Despite the constant increase in the commodity exchange between Bulgaria and Egypt, the exchange does not correspond to the potential and opportunities of both countries, said also Mr. Porodzanov. By the end of 2017, main products of the Bulgarian export to Egypt are petroleum oils, refined copper and alloys, wheat, corn, raw and processed tobacco, etc. Import includes raw petroleum oils, mineral and chemical nitrogen fertilizers, salt, polymers, etc.

Currently, transport, communications, food industry, agriculture and tourism are seen as the most resourceful areas of economic cooperation, said in turn Dr. Sahar Nasr, Minister of Investment and International Cooperation of Egypt. She recalled the visit of the Bulgarian Prime Minister Boyko Borisov on 22-23 October 2018 and his meetings with the Egyptian President Abdel Fatahel-Sisi and the Prime Minister Mostafa Madbouly, when agreements were reached for future common actions to expand and deepen the bilateral cooperation in areas of common interest.

Upon the bilateral meeting they held, Minister Porodzanov and Minister Nasr signed a protocol of the first session of the Joint Committee. They also endorsed a Memorandum of Understanding for scientific and technical cooperation between the Agricultural Academy and the Agricultural Research Center in Egypt.