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Egypt and Romania – trade relations dropping since 1995

Commercial relations between Romani and Egypt having been dropping of late. The value of Romanian exports to Egypt was last year 143 million euro, on the drop since 2009 – 190 million euro.

In November 2010 Romania exported overall goods of 13 million euro, most in the car, spares and farm machines, INS officials declared.Since 1995, imports have been very low. The accord signed then had boosted the import level to 30 million euro in 1995 attracting export increases.

The main products exported by Romania to Egypt are tractors and famr machines, spares for machines, equipment and spared for cement industry and the oil sector, train engines and railway cars, components for sleeping cars, wood and wood products, steel and scrap iron, electric engines, bearings, glass and glass products, chemical products, rubber products, synthetic yarn, etc.The main products imported from Egypt are: oil, cotton, leather, medicines, detergents, cosmetic products, fruit and vegetables, ceramic pots, bathroom objects, etc. About 45,000 Romanian visited Egypt according to the Egyptian Travel Agency.

In 2009, the number of Romanian tourists who chose to spend their holiday in Egypt dropped by 20%compared to 2008. That means a 10% reduction compared to the market dropping rate of international tourism, according to data of the government tourism in charge with the promotion of Egypt as travel destination in Romania.

For Romania, Egypt represents the main Afircan partner, followed by Algeria, Morocco, Tunisia. The lowest commercial exchanges with African countries are those with Guinea Bisau and Gambia.

Last summer the chairman of the Egypt-Romania Business Council, Hassan El-Shafei and Bucharest Chamber of Trade signed a bilateral accord . The even had an economic significance beyond the formal one. In 2011 it will reactivate and dynamize the Business Council, an institutional structure meant to boost bilateral economic relations, especially thought projects for private business, According to the projects discussed joint Romanian-Egyptian companies in the field of tourism will be set up in 2011 and projects will be carry out in Egypt through transfer of technology and expertise from Romania.

Sursa: http://www.actmedia.eu

Tags: egypt romania since products dropping relations euro car

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