A meeting was held between the Minister of Investment, Industry and Trade of the Republic of Uzbekistan and the Minister of Finance of Egypt

At the meeting held on the eve of the Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank, Laziz Kudratov, Minister of Investment, Industry and Trade of the Republic of Uzbekistan, and Ahmed Kuchuk, Minister of Finance of Egypt, focused on the development of trade, economic and investment cooperation between the two countries, the press service of the MIIT reports.

The trade turnover from January to August 2024 saw a 20% increase compared to the previous year. The collaborative investment portfolio boasts 18 diverse sector projects worth over $1.5 billion, with contributions from companies like ‘‘Elsewedy Electric’’, ‘‘Orascom Investment’’, ‘‘Orascom Construction’’, ‘‘Gulf Data Hub’’, ‘‘Nile Sugar’’, ‘‘Solyphar’’ and ‘‘Elaraby Group’’.

The meeting underscored the importance of leveraging all existing resources and opportunities to boost mutual trade volumes. A consensus was reached to establish a joint working group dedicated to conducting a thorough analysis and formulating targeted proposals to enhance bilateral trade.

The discussions also pinpointed key priorities, such as fostering cooperation between financial and banking institutions and actively engaging Egyptian companies in Uzbekistan’s new privatization initiatives and substantial public-private partnership projects across sectors like infrastructure, education, and healthcare.

Concluding the talks, both parties reaffirmed their commitment to advancing their cooperative relationship and arranged for the subsequent session of the Intergovernmental Commission on trade-economic and scientific-technical cooperation between Uzbekistan and Egypt to take place in Samarkand before the end of the current year.