Bulgarian Minister of Economy Emil Karanikolov praised the Egyptian economic reform programme, on Saturday, and the legislative measures adopted by the country, which encourages Bulgarian companies to inject new investments especially in the industry sector, as well as services, construction, tourism, communications and information technology.
Karanikolov’s statements came during the meeting with Minister of Investment and International Cooperation Sahar Nasr, on the sidelines of the first session of the Egyptian-Bulgarian joint ministerial committee for economic, scientific, and technical cooperation in the Bulgarian capital Sofia.
Nasr stressed Egypt’s aspiration to strengthen economic relations with Bulgaria, pointing out that the newly adopted Investment Law, includes guarantees and tax incentives of up to 50%, to encourage new investments.
Furthermore, she added that there are great opportunities to establish joint industries between Egypt and Bulgaria In the free and investment zones, especially in sectors where the two countries enjoy comparative advantages such as infrastructure, chemical, mineral, and food industries.
During the meeting, the two sides discussed the establishment of an Egyptian-Bulgarian investment council to increase mutual investments and economic cooperation between the two countries and agreed to encourage businesspersons in both countries to enter into joint projects.
On the other hand, Chief of the General Authority for Veterinary Services, Abdel Hakim Mahmoud, announced on Friday, on the sidelines of the visit, that it was agreed to cooperate and exchange experiences and information in the fields of poultry industry and livestock production between the two countries, as well as genetic improvement of breeds, sheep and goat husbandry, and the diagnosis of animal and poultry diseases.
The cooperation protocol also includes the production of field crops, seeds and fruits, organic agriculture and disease resistance, as well as the flow of agricultural trade exchange between the two countries and increasing the volume of Egyptian exports to Bulgaria, especially fish.