Minister of Planning, Economic Development and International Cooperation and Her Albanian Counterpart Conclude the First Session of the Joint Committee for Economic Cooperation

First High-Level Ministerial Visit by an Egyptian Official to Albania in Nearly 20 Years

 

Minister of Planning, Economic Development and International Cooperation and Her Albanian Counterpart Conclude the First Session of the Joint Committee for Economic Cooperation

 

Al-Mashat signs two Memoranda of Understanding to exchange expertise in economic development policies and enhance joint investments between the two countries

 

Signing of the First Session Protocol of the Joint Committee, with both countries agreeing to explore partnership opportunities across 25 strategic sectors

 

Promotional and exploratory missions to boost investment relations and increase trade volume in line with the aspirations and potential of both countries

 

Discussion of cooperation in water resources and irrigation, higher education, scientific research, health, and population

 

Invitation extended to the Albanian side to explore investment and manufacturing opportunities in the Suez Canal Economic Zone as a gateway to African and Middle Eastern markets

 

Digital transformation, SMEs, urban planning, and food security identified as key priorities for future bilateral relations

 

Intensifying engagement between business communities and the private sector to create investment partnerships in areas of mutual interest

 

The first session of the Egyptian–Albanian Joint Committee for Economic, Scientific, and Technical Cooperation concluded its meetings in the Albanian capital, Tirana, co-chaired by H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, on the Egyptian side, and Ms. Delina Ibrahimaj, Minister of Economy and Innovation of the Republic of Albania, with the participation of relevant entities from both countries.

 

The session was convened for the first time since the signing of the Economic Cooperation Agreement between the two countries in 1993, and marks the first high-level ministerial visit by an Egyptian official to Albania in nearly 20 years.

 

 

 

Economic Development Policies

 

At the conclusion of the Committee’s meetings, H.E. Dr. Rania Al-Mashat and her Albanian counterpart signed a Memorandum of Understanding between the Ministry of Planning, Economic Development and International Cooperation and Albania’s Ministry of Economy and Innovation to exchange expertise in economic development policies.

 

The MoU aims to enhance and facilitate cooperation across various areas to advance mutual interests and shared benefits. It includes collaboration on the design and alignment of national and sectoral economic policies to promote sustainable and inclusive economic growth, exchange expertise in strategic planning at regional and sectoral levels, and strengthen cooperation in the design and development of programs that enhance institutional efficiency and sustainable economic development.

 

The MoU also targets the exchange of best practices in national monitoring mechanisms for assessing the implementation of economic reforms and the achievement of development objectives, as well as strengthening the role of joint committees and subcommittees as tools to advance economic diplomacy.

 

 

Investment Cooperation

 

In a related context, the two countries signed a Memorandum of Understanding between Egypt’s General Authority for Investment and Free Zones (GAFI) and the Albanian Investment Development Agency (AIDA). The MoU was signed on the Egyptian side by H.E. Dr. Rania Al-Mashat, and on the Albanian side by Mr. Laura Blaku (Saro), Executive Director of AIDA.

 

The agreement aims to enhance cooperation in providing mutual support to investors, exchanging business delegations and visits, and organizing matchmaking meetings to promote investment in both countries and facilitate the establishment of joint ventures. It also includes the organization of joint conferences and investor-focused seminars, as well as the exchange of technical expertise through training programs, workshops, seminars, and forums to share best practices in investment promotion, alongside the exchange of experts to provide advisory services within specific projects and programs.

 

 

 

First Session Protocol of the Joint Committee

 

The Co-Chairs of the Joint Committee also signed the Protocol of the First Session, under which both countries agreed to strengthen cooperation across 25 strategic sectors, including: trade and investment, industry, tourism and antiquities, culture, petroleum and mineral resources, electricity and renewable energy, water resources and irrigation, agriculture, higher education, health and population, pharmaceuticals and medical supplies, education and technical education, supply and internal trade, housing, labor, endowments, environment, transport, Arab Organization for Industrialization, information and communications technology, public business sector, youth and sports, the Suez Canal Economic Zone, social solidarity, and small and medium enterprises.

 

H.E. Dr. Al-Mashat affirmed that the Joint Committee Protocol will contribute to strengthening trade relations and increasing bilateral trade volume in line with mutual interests, through expanding promotional and exploratory missions between relevant entities in both countries. The two sides also agreed on the importance of establishing a joint Egyptian–Albanian Business Council to play a pivotal role in advancing economic relations and deepening engagement with the private sector.

 

Both countries further agreed to enhance cooperation in investment by exchanging information, organizing exploratory missions, and facilitating meetings between business communities, in addition to studying opportunities for joint projects in food and engineering industries. Cooperation will also be expanded in the tourism sector and in the field of antiquities, leveraging the comparative advantages of both countries.

 

 

Priority Areas for Future Cooperation

 

Dr. Al-Mashat noted that cooperation will extend to water resources and irrigation, higher education, scientific research, health and population, as well as digital transformation, SMEs, urban planning, and food security. She invited the Albanian government and private sector to explore investment and manufacturing opportunities in the Suez Canal Economic Zone, enhancing Albanian exports’ access to African and Middle Eastern markets.

 

The Protocol also covers cooperation in sustainable water resource management, research projects on climate change adaptation, mechanisms to increase crop productivity, and irrigation system development. It further addresses collaboration in higher education and scientific research, as well as health and population through partnerships aimed at developing healthcare systems and building capacities.

 

Dr. Al-Mashat emphasized that the coming period will witness intensified joint efforts and increased engagement between business communities and the private sector to establish investment partnerships in areas of shared interest.

 

The Protocol additionally includes cooperation in pharmaceutical industries and medical supplies, education and technical education, food security and strategic reserves management, development of trade infrastructure, and cooperation with the Arab Organization for Industrialization to meet Albanian needs in various industrial fields, spare parts, and vehicles.

 

Other areas addressed include urban planning, labor mobility regulation, endowments and religious affairs, environmental cooperation, aviation and maritime transport, ICT and digital transformation in line with national priorities, and public business sector partnerships and exports to the Albanian market.