Egypt, Bulgaria sign joint committee protocol to expand cooperation across 19 sectors
Updated 12/4/2025 10:53:00 AM
Arab Finance: Egypt and Bulgaria inked a protocol to strengthen cooperation in 19 economic, technical, and development sectors during the meetings of the Egyptian-Bulgarian Joint Committee for Economic, Scientific, and Technical Cooperation, held in the New Capital, as per a statement.
The committee was co-chaired by Minister of Planning and Economic Development, and International Cooperation Rania Al-Mashat and Bulgaria’s Minister of Economy and Industry Petar Dilov.
Both sides said the protocol reflects their intention to advance economic dialogue and develop mutually beneficial cooperation.
They agreed to work on elevating bilateral coordination in line with the partnership between Egypt and the European Union (EU).
Al-Mashat noted that convening the joint committee ahead of the 100th anniversary of diplomatic relations provides opportunities for cooperation by drawing on the capabilities of both countries.
She said the protocol covers sectors that serve shared priorities, particularly in industry, investment, and business engagement.
The protocol aims to expand economic and trade cooperation, building on bilateral trade that reached about $1 billion in 2024.
Egypt and Bulgaria agreed to encourage business participation through forums, exhibitions, and business-to-business (B2B) meetings, and to activate cooperation between ministries, chambers of commerce and industry, and other institutions to facilitate trade, investment, and partnerships in goods and services.
The protocol invites Bulgarian companies to explore investment opportunities in the Suez Canal Economic Zone (SCZONE) as a gateway for exports and investment to African markets, and encourages joint ventures in renewable energy, engineering, electronics, and chemical industries.
The agreement includes cooperation in military production, joint investments, and small and medium-sized enterprises, as well as efforts to attract investment in sectors such as technology, automotive manufacturing, electronics, pharmaceuticals, and renewable energy.
Both sides discussed expanding cooperation in petroleum, mineral resources, electricity, and renewable energy, noting Egypt’s plans related to green economy efforts.
They also emphasized the role of the private sector and addressed collaboration in agricultural research, genetic engineering, organic farming, and livestock and fisheries.
The joint committee also addressed cooperation in transportation, communications, information technology, cybersecurity, environmental protection, climate action, and tourism.
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