Tashkent, Uzbekistan (UzDaily.com) — On 24 December 2024, Tashkent hosted events aimed at strengthening Uzbek-Egyptian trade, economic, and investment cooperation.

The agenda opened with a bilateral meeting between the heads of the two delegations: Laziz Kudratov, the Minister of Investments, Industry, and Trade of Uzbekistan, and Rania al-Mashat, Egypt’s Minister of Planning, Economic Development, and International Cooperation.

During the meeting, the current state and prospects for developing the partnership were thoroughly discussed, including target goals for mutual trade, investment attraction, and industrial cooperation.

A significant increase in trade turnover between Uzbekistan and Egypt was highlighted, which doubled last year. The positive trend continues this year, with nearly a twofold growth in the supply of yarn, petroleum products, chemicals, pharmaceuticals, electrical equipment, and agricultural products and services.

There are currently 15 enterprises with Egyptian capital operating in Uzbekistan. Egyptian companies are involved in projects in areas such as food production, geological exploration, and modernization of water supply and wastewater systems in various regions of Uzbekistan.

The parties continued their work within the framework of the 7th session of the Intergovernmental Commission on Trade, Economic, and Scientific-Technical Cooperation between the Republic of Uzbekistan and the Arab Republic of Egypt. Reports from leaders of relevant ministries, agencies, and industry associations responsible for implementing existing agreements were presented at the session. Each project stage was thoroughly analyzed, and effective solutions for their successful implementation were developed, with deadlines and responsible persons assigned.

The day’s program continued with a business forum featuring over 150 heads of large companies from both countries. The Egyptian side was represented by companies such as El Sewedy Electric, Hassan Allam Holding, ACDIMA, EPICO, Nile Sugar, Badawy Group, Masriya Machine, Ebtkarat Smart Systems, Solyphar, Al Farouk For Import & Export, and others.

Minister Laziz Kudratov emphasized the importance of enhancing business interaction and achieving breakthrough growth in trade relations, based on an analysis of regional market potential and transport-logistics opportunities.

During the forum, Uzbekistan’s economic potential was presented, alongside investment initiatives and project proposals in areas such as digital technologies, education, pharmaceuticals, food industry, agriculture, and tourism. Business conditions in Uzbekistan were also outlined, ensuring protection of entrepreneurs’ rights, as well as key aspects of the country’s investment and industrial potential.

B2B and B2G meetings took place, where entrepreneurs discussed joint implementation of mutually beneficial projects and trade agreements.

As a result of the events, the Protocol of the 7th session of the Uzbek-Egyptian Intergovernmental Commission and several bilateral agreements were signed, including agreements on technical cooperation in environmental protection, regional cooperation between Samarkand region and Alexandria province, and cooperation in education between Ain Shams University and Tashkent State Institute of Oriental Studies.

A Memorandum of Understanding was also signed between the Pharmaceutical Industry Development Agency and ACDIMA.