In a strategic effort to enhance economic ties, a high-level Egyptian trade delegation, organized by the Egyptian Business Council for International Cooperation (EBCCI), recently visited Uzbekistan from June 3rd to 6th. The delegation included members of parliament, senators, and prominent business leaders from major Egyptian companies across various sectors.
Moataz Raslan, Chairperson of the EBCCI, highlighted the mission’s objective to explore collaborative opportunities in industry, agriculture, tourism, health, and higher education. “We aim to capitalize on the opportunities in both countries, open new markets for Egyptian products, and benefit from Uzbekistan’s industrial expertise,” Raslan stated.
This mission follows a series of high-level exchanges between the two nations, underscoring a commitment to strengthening bilateral relations. Despite a trade volume of $50 million in 2022, Raslan noted significant potential for growth.
During their visit, the Egyptian delegation met with Uzbek officials from several key ministries, including higher education, tourism, health, agriculture, transportation, electricity and energy, and investment. They also engaged with representatives from the Chamber of Commerce and Industry, the National Bank of Uzbekistan, the House of Representatives, the Prime Minister’s Office, and the Samarkand government to discuss mutual investment opportunities and potential areas for cooperation.
“The visit highlighted significant opportunities for cooperation in health, tourism, and higher education through student exchanges,” Raslan explained. “Additionally, there are prospects for agricultural collaboration, particularly in importing grains from Uzbekistan, as well as in the leather and gold mining industries.”
A key event of the mission was the Uzbek-Egyptian Business Forum, organized by the Chamber of Commerce and Industry. The forum facilitated meetings between Egyptian and Uzbek businesses, fostering potential partnerships. Raslan also encouraged Uzbek investors to explore the investment landscape in Egypt, particularly the ongoing mega projects.
In addition to official meetings, the delegation visited the historic city of Samarkand, emphasizing the importance of cultural understanding alongside business discussions.
Raslan expressed optimism about the mission’s outcomes, stating that it has paved the way for future deals, joint investments, and stronger trade relations between Egypt and Uzbekistan. This mission marks a crucial step towards realizing the untapped potential of their economic partnership.
Photo source: Google
By: Montel Kamau
Serrari Financial Analyst
24th June, 2024
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