Events in Tashkent on December 24 marked a significant step in strengthening trade and investment cooperation between Uzbekistan and Egypt. The day commenced with a bilateral meeting between Laziz Kudratov, Uzbekistan’s Minister of Investments, Industry, and Trade, and Rania Al-Mashat, Egypt’s Minister of Planning, Economic Development, and International Cooperation. Discussions centered on enhancing trade relations, bolstering investment, and advancing industrial partnerships.
The trade turnover between Uzbekistan and Egypt has shown remarkable growth, doubling last year and maintaining momentum into this year. Uzbekistan’s exports to Egypt have expanded across diverse sectors, including yarn, petroleum products, chemicals, pharmaceuticals, electrical equipment, agricultural goods, and services. Additionally, 15 Egyptian enterprises currently operate in Uzbekistan, engaging in food production, geological exploration, and infrastructure modernization.
The meeting laid the groundwork for the 7th session of the Intergovernmental Commission on Trade, Economic, and Scientific-Technical Cooperation. Officials from both nations assessed progress on bilateral agreements, resolved challenges, and outlined actionable steps to expedite project implementation. Each initiative was evaluated thoroughly, and responsibilities were clearly defined.
A business forum involving over 150 executives from prominent companies in both countries underscored the commitment to enhancing business ties. Notable Egyptian participants included El Sewedy Electric, Hassan Allam Holding, EPICO, and Nile Sugar, among others. Minister Kudratov stressed the importance of deepening trade relations and leveraging regional logistics opportunities.
The forum also highlighted Uzbekistan’s economic potential, emphasizing its initiatives in digital technology, education, pharmaceuticals, food processing, agriculture, and tourism. Participants learned about Uzbekistan’s pro-business environment, including robust legal protections and attractive investment incentives.
The event facilitated B2B and B2G meetings, fostering new business connections and advancing trade agreements. The day concluded with the signing of pivotal documents, including:
- Protocol from the 7th Uzbek-Egyptian Intergovernmental Joint Commission.
- Agreements on environmental protection and regional partnerships between Samarkand and Alexandria.
- Collaborations between Egypt’s Supreme Council of Antiquities and Uzbekistan’s Center of Islamic Civilization.
- Education Agreement between Ain Shams University and Tashkent State University of Oriental Studies.
- Memorandum of Understanding between the Agency for the Development of Pharmaceutical Industry and ACDIMA.
These agreements signify a deepened commitment to strengthening bilateral ties and enhancing trade cooperation. The initiatives reflect the shared vision of Uzbekistan and Egypt to capitalize on mutual opportunities and foster sustainable growth.
