Means of boosting investment and trade ties were at the core of talks held in Cairo on Sunday between Egypt’s Minister of Investment and Foreign Trade, Mohamed Farid Saleh, and Uzbekistan’s Foreign Minister Bakhtiyor Saidov.
The two ministers also sought to expand co-operation between business communities in both countries.
The meeting focused on opportunities for co-operation in a range of sectors, including textiles and garments, pharmaceuticals and medical supplies, bus and tractor manufacturing, and investment opportunities in Egypt’s capital market, according to a ministry statement.
The two sides also discussed enhancing co-operation between investment institutions and sovereign wealth funds, supporting direct communication between businesses in both countries and exploring joint investment opportunities through Egypt’s investment zones.
Farid voiced Egypt’s keenness on deepening economic relations with Uzbekistan as part of its strategy to expand co-operation with promising international markets. He also highlighted Egypt’s strategic location, investment incentives and trade agreements that provide access to regional and global markets.
The government was working to create a more attractive business environment and welcomed greater participation by Uzbek companies in the Egyptian market, saying this could help increase investment flows and trade between the two countries, he added.
For his part, Saidov described Egypt as an important regional partner and said Uzbekistan was implementing programmes aimed at attracting foreign investment, diversifying investment sources and strengthening economic co-operation with friendly nations.
He said Uzbek companies were interested in exploring opportunities in Egypt, citing the country’s competitive advantages and investment potential, and stressed the importance of closer engagement between business institutions in both countries.
The two sides agreed to maintain coordination between relevant authorities and build on the outcomes of the meeting to advance economic, trade and investment co-operation.
