Moldovan deputy economics minister meets Egyptian ambassador

Chisinau, 16 December /MOLDPRES/ - Acting Deputy Economics Minister Octavian Calmic and Bucharest-based Ambassador of the Arab Republic of Egypt to Moldova Mohamed Aly Shawky Alaaeldin Elhadidi discussed the Moldovan-Egyptian prospects for deepening economic cooperation at a meeting on 15 December.

According to the Economics Ministry’s information and media communication service, the two officials stressed the interest in developing relations between the two countries through enhanced economic and trade cooperation.

In this context, Octavian Calmic highlighted the opportunities provided by the investment climate in Moldova, the tax and legal benefits offered to investors in the Free Economic Zones and the Industrial Parks’ advantages.

The main topics tackled by the sides were facilitating growth of exports of domestic agricultural products to Egypt, the need to establish closer cooperation between the state institutions in charge of promoting exports and attracting investments, and the possibility of for the two countries to exchange experience and best practices in legislation, policies and strategies to support small and medium enterprises sector.

The sides agreed to initiate negotiations followed by the signing of more cooperation agreements - Agreement between the Moldovan government and the Egyptian government on the Mutual Promotion and Protection of Investments, Agreement between the Moldovan and Egyptian governments on avoidance of double taxation of income and property and preventing tax evasion, as well as a memorandum of understanding and cooperation in the field of small and medium enterprises between the Moldovan Economics Ministry and the Egyptian Industry, Trade and Small and Medium-sized Enterprises Ministry.

At the same time, both sides expressed the need to organise bilateral visits of business environment representatives, discussed Egypt’s participation in  the MoldMedizin & MoldDent International Specialised Exhibition in Chisinau and possibility of organising a business forum.

Moldova's foreign trade with Egypt stood at 10.6 million dollars in January-September 2014, twice as much against the same period in 2013. The main Moldovan goods exported to Egypt are maize, wheat and dried fruits. In this context, in the above-mentioned period, domestic goods worth 2.4 million dollars were exported, which is by about 22 per cent more against January-September 2013.