A high-level Egyptian trade mission, organized by the Egyptian Business Council for International Cooperation (EBCCI),recently concluded a visit to Uzbekistan with the aim of bolstering economic and trade relations between the two countries. The mission, which took place from June 3rd to 6th, included members of parliament, senators, and prominent businessmen and investors representing major Egyptian companies across various sectors.
Moataz Raslan, Chairperson of the EBCCI, highlighted that discussions with Uzbek counterparts focused on potential cooperation in the industrial, agricultural, tourism, health, and higher education sectors. “We aim to capitalize on available opportunities in both countries, open new markets for Egyptian products, and leverage Uzbekistan’s extensive industrial expertise,” Raslan stated.
The trade mission comes on the heels of increased activity in Egyptian-Uzbek relations, with high-level visits between the two countries’ leaders in recent years. However, Raslan acknowledged that the current trade volume between the two nations, which reached approximately $50 million in 2022, is modest and has significant potential for growth.
During the visit, the Egyptian delegation met with Uzbek officials from various ministries, including higher education,tourism, health, agriculture, transportation, electricity and energy, and investment. They also held discussions with the Chamber of Commerce and Industry, the National Bank of Uzbekistan, the House of Representatives, the Prime Minister’s Office, and the Samarkand government. These meetings served to showcase investment opportunities in both countries and explore areas for further cooperation.
“The visit revealed tremendous opportunities for joint cooperation between the two countries in the fields of health and tourism, as well as higher education through student exchange,” Raslan explained. “Additionally, there are opportunities for agricultural cooperation through the import of grains from Uzbekistan, as well as cooperation in the leather and mining industries, particularly gold.”
A highlight of the mission was the Uzbek-Egyptian Business Forum, organized by the Chamber of Commerce and Industry, which facilitated bilateral meetings between Egyptian and Uzbek businesses with mutual interests. Raslan took the opportunity to invite Uzbek businessmen to invest in Egypt and benefit from the mega projects implemented by the Egyptian government.
In addition to the official meetings, the mission included a cultural visit to the historic city of Samarkand, underscoring the importance of building relationships and understanding the cultural context alongside business discussions.
Raslan expressed optimism about the outcomes of the trade mission, noting that it has paved the way for potential deals,joint investments, and enhanced trade relations between Egypt and Uzbekistan.