<p> Round Table with</p><p>H.E. Mr. Cornel Alecse</p><p>Ambassador of Romania to Egypt</p><p>14/02/2013</p><p>EBA has organized a round table with H.E. Mr. Cornel Alecse, Ambassador of Romania to Egypt on the 14th of February 2013 to exchange points of views regarding cooperation between the two countries</p><p>The meeting was attended by Minister Counselor Mr. Anton Costescu</p><p>Head of the trade representation office and some members of the Egyptian Romanian Business Council</p><p>The meeting started by welcoming remarks from Eng. Hassan El Shafei, Chairman, of the Egypt-Romania business council affirming the excellent and historical bilateral relations between Egypt and Romania</p><p>:H.E. Mr. Cornel Alecse</p><p>:H.E. the ambassador stated the following points</p><p>This is his first meeting with an Egyptian association in Egypt </p><p>He gave an overview on the political evolution in Romania where  he described that Romania is facing warning economic situation and social dissatisfaction due to the reduction of the budget of health care and education, he also stated that the president of Romania was suspended as 7.5 million voted in favor of his dismissal in a referendum considered as a non-constitutional one</p><p>In November 2012, the parliamentary elections resulted in the  success of the social liberal union which gains 60% of the executive power, whereas a severe defeat for the democratic liberal party</p><p>Romania is a member in the EU and has accession to the Schengen  group now and in 2015, Romania will join the euro zone</p><p>With regard to the economic growth in 2008, the rate was 8% and  now the growth rate is 0%</p><p>The new government objectives mainly focusing on the following  :points</p><p>Majors of facilitating the attraction of foreign direct -1 (investments (one of which is deducting the VAT</p><p>Growing the absorption rate of EU funds for agricultural and -2 rural development</p><p>Reducing the dependence of the IMF loan that was signed in -3 2010 in the amount of 20 billion US$, the government is facing this year big challenge as it has to return 6 billion US$ to the IMF</p><p>The government is keeping the currency reserves stable -4 amounting to 36 billion euros</p><p>Regionalization policy (the establishment of 8 new -5 (administration level regions</p><p>Revising the constitution specially concerning the reduction of -6 corruption and implementation of justice</p><p>:Directions of cooperation with Egypt</p><p>Egypt needs cooperation these days, funds are being prepared by  the EU but the Egyptian priorities are not yet settled</p><p>The main domains of cooperation are human rights, education,  economy, transportation of goods on the river Nile (19% of the boats in Damietta comes from Romania), small and medium poultry farms, veterinary control, train specialists in food sanitation control, health care system, integrated mobile first aid service</p><p>Joint programs can be done between Italy, Romania and Egypt </p><p>:Remarks and proposals about Egypt</p><p>The dialogue between institutions is essential </p><p>Acknowledgment and support the goals of the 25th of January  revolution</p><p>Share experience in the transitional period </p><p>The pressing needs are technical financial assistance in parallel  with the IMF loan</p><p>The key is to have a good balance between taxes/ fees and  productivity</p><p>The joint committee on economic cooperation will be held in  Egypt soon</p><p>:Eng. Hassan El Shafie, stated on the following</p><p>There are common interest points, he stressed on the point that  Romania and Egypt share historically strong relations</p><p>The trade volume between the two countries has crossed the 500  million US$, which is considered the highest ever economic relations (the exports from Romania are 492 million US$ whereas the Egyptian exports amounted to 45 million US$ which (represents 1/10 of the trade volume The goal for the coming year that the trade volume would reach 1  $billion US</p><p>The business council will organize an official visit for the  businessmen by the end of April/ beginning of May 2013 to discover the investment climate in Romania as well as the establishment of joint ventures there</p><p>The Egyptian products that are exported to Romania are: fruits,  vegetables, potatoes, rice, pharmaceuticals</p><p>The main Egyptian imports from Romania are wheat, chemicals,  ash soda, fertilizers</p><p>Egyptian investments in Romania are mainly focusing on oil and  gas, and renewable energy</p>