The Egyptian delegation was headed by Dr. Rania Al-Mashat, Minister of Planning and Economic Development and International Cooperation, while the Albanian side was led by Delina Ibrahimaj, Minister of Economy and Innovation.
At the conclusion of the committee's work, Dr. Al-Mashat and
her Albanian counterpart signed a Memorandum of Understanding (MoU) between
Egypt's Ministry of Planning and Economic Development and International
Cooperation and Albania's Ministry of Economy and Innovation.
The MoU aims to enhance and facilitate cooperation by
exchanging expertise in economic development policies, promoting sustainable
and inclusive economic growth, and strengthening collaboration in strategic
planning, institutional efficiency, and monitoring economic reforms.
Cooperation includes designing national and sectoral
economic policies, exchanging best practices in strategic planning and
monitoring economic reforms, and supporting sustainable development.
In a related development, the two countries also signed a
separate MoU between Egypt's General Authority for Investment and Free Zones
(GAFI) and the Albanian Investment Development Agency (AIDA). The MoU was
signed by Dr. Al-Mashat on the Egyptian side and Laura Blaku (Sarru), AIDA's
Executive Director.
This agreement seeks to promote bilateral investment by
supporting investors, exchanging business delegations, organizing joint
investment events, and facilitating the establishment of joint ventures. It
includes organizing joint conferences, exchanging technical expertise through
training programs and workshops, and exchanging experts for consultation on
specific projects.
The Co-Chairs of the Joint Committee signed the Protocol of
the First Session, where the two countries agreed to strengthen their
partnership across 25 strategic sectors. These sectors include: trade and investment,
industry, tourism and antiquities, culture, petroleum and mineral resources,
electricity and renewable Energy, water resources and irrigation, agriculture,
higher education and scientific research, health and population, medicine and
medical supplies, education and technical education, supply and internal trade,
housing, labor, endowments (Awqaf), environment, transport, Arab Organization
for Industrialization (AOI), communications and information technology, public
business sector, youth and sports, Suez Canal Economic Zone (SCZONE), Social
Solidarity, and small and medium enterprises (SMEs).
Dr. Al-Mashat affirmed that the protocol will boost trade
relations and increase trade volume through joint promotional and exploratory
missions. A joint Egyptian-Albanian Business Council will also be established
to play a pivotal role in strengthening economic ties with the private sector.
Both sides agreed to boost investment cooperation through
information exchange and exploring opportunities for joint projects, especially
in the food and engineering industries. In the sector of Tourism and antiquities,
cooperation will be increased in this sector, leveraging the comparative
advantages of both countries.
The countries will explore cooperation in water resources
management, higher education, scientific research, health, population, digital
transformation, small projects, and urban planning.
The Minister invited the Albanian private sector and
government to explore investment and manufacturing opportunities in the Suez
Canal Economic Zone (SCZONE) to enhance Albanian exports' access to African and
Middle Eastern markets.
The protocol further specifies enhanced cooperation in areas
like sustainable water resource management, climate change adaptation research,
vocational and technical education, pharmaceutical manufacturing, food
security, and collaborating with the AOI to meet Albania's industrial and spare
parts needs.
The Minister concluded by stressing that the coming period will see intensive joint work and meetings between the business communities and private sectors to forge investment partnerships of mutual interest.