Uzbekistan is negotiating with Egypt to transit its products to the markets of Africa

The Egyptian business community is conducting intensive negotiations with its Uzbek counterpart to increase bilateral trade and joint investment, as Egypt is the transit gateway for Uzbek products to the markets of Africa.

It is noteworthy that the volume of trade exchange between the two countries last year amounted to about 49.9 million dollars compared to about 46.6 million dollars, an increase of about 7%, according to the Ministry of Commerce and industry.

The ambassadors of Egypt and Uzbekistan witnessed the signing of a partnership agreement between the Egyptian Businessmen Association and the Uzbek Chamber of industry and Commerce to establish a joint business council through video conference technology.

The protocol was signed from the Egyptian side by engineer Ali Issa, Chairman of the board of Directors of the Egyptian Businessmen Association, and from the Uzbek side by Davron wahabov, chairman of the board of Directors of the Chamber of Commerce and industry of the Republic of Uzbekistan, with the participation of engineer Adel al-Lamai, member of the board of Directors of the Egyptian Businessmen Association, Dr. Mohammed Youssef, executive director of the association and a number of representatives of the Chamber of Commerce and industry of Uzbekistan.

On the sidelines of the signing of the agreement on the establishment of the Egyptian-Uzbek Business Council, mansurbek kilichev, ambassador of Uzbekistan in Cairo, said that the visit of the Uzbek president to Egypt last February and the friendly relations between the Egyptian and Uzbek leaders contributed to raising the level of economic relations by 3.5 times, as it witnessed the signing of a number of cooperation agreements for projects in various sectors of mutual interest.

He stressed that the president of Uzbekistan directed the start of negotiations between the business community of the two countries by taking serious steps towards the establishment of a joint Business Council between the Chamber of Commerce and industry of Uzbekistan and the Association of Egyptian businessmen, so that they can exploit the economic potential and available resources that characterize the two countries, through the exchange of visits and discuss opportunities for cooperation in sectors and economic fields of mutual benefit, especially the manufacture of household appliances, textiles, energy, chemicals and others.

He stressed that Uzbek businessmen are ready to establish an industrial and commercial center in Port Said and build warehouses for the distribution of goods to the African region, and the embassy is making every effort to strengthen cooperation and mutual benefit between the two countries.