Tashkent, Uzbekistan (UzDaily.com) -- On 5 September 2018, the National Bank of Uzbekistan for Foreign Economic Activity (NBU) and the African Export-Import Bank (Afreximbank) signed an agreement of cooperation for US$50 million.

The document was signed in Tashkent within the framework of the state visit of the President of Egypt Abdel Fattah Saeed Hussein Khalil el-Sisi to the Republic of Uzbekistan.

The agreement envisages cooperation with Afreximbank on trade financing, as well as the opening of credit lines for financing the export of goods and services from Egypt and other African countries to the Republic of Uzbekistan.

The signed agreement will strengthen bilateral cooperation and promote development of trade and investment ties between Uzbekistan and Egypt and the countries of Africa.

The main export item from Uzbekistan is textile products, food, transport and tourism services, and from Egypt, pharmaceutical products, agricultural products, household chemicals are imported.

At the same time, trade and economic relations between the two countries have the potential for even greater expansion.